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  • Compensation and Support Policy Library
  • Part 10 Types of Income and Assets
  • 10.3 Business Structures and Trusts
  • 10.3.4 Assessing the Income & Assets from Trusts pre 01/01/2002

10.3.4 Assessing the Income & Assets from Trusts pre 01/01/2002

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In this section

  • General Provisions for Trusts pre 01/01/2002
  • Assessable Income from Discretionary Trusts pre 01/01/2002
  • Assessable Assets from Discretionary Trusts pre 01/01/2002
  • Assessable Income from Non-discretionary Trusts pre 01/01/2002
  • Assessable Assets from Non-discretionary Trusts pre 01/01/2002
  • Summary of Assessable Income from Trusts pre 01/01/2002
  • Assessable Income and Assets from Statutory Trusts pre 01/01/2002
  • Other Trust Matters pre 01/01/2002

This section provides information on assessing the income and assets from trusts not covered under the new 01/01/2002 private trusts and private companies' rules.


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10.3 Business Structures and Trusts

  • 10.3.4 Assessing the Income & Assets from Trusts pre 01/01/2002
    • General Provisions for Trusts pre 01/01/2002
    • Assessable Income from Discretionary Trusts pre 01/01/2002
    • Assessable Assets from Discretionary Trusts pre 01/01/2002
    • Assessable Income from Non-discretionary Trusts pre 01/01/2002
    • Assessable Assets from Non-discretionary Trusts pre 01/01/2002
    • Summary of Assessable Income from Trusts pre 01/01/2002
    • Assessable Income and Assets from Statutory Trusts pre 01/01/2002
    • Other Trust Matters pre 01/01/2002
  • 10.3.1 Overview of Business Structures and Trusts
  • 10.3.2 Assessing the Income and Assets of Sole Traders and Partnerships
    • General Provisions for Sole Traders and Partnerships
    • Assessment of Income for Sole Traders and Partnerships
    • Allowable Deductions for Sole Traders and Partnerships
    • Assessment of Business Losses for Sole Traders and Partnerships
    • Assessable Income for Partnerships Only
    • Summary of Assessable Income for Sole Traders and Partnerships
    • Assessment of Assets for Sole Traders
    • Assessment of Assets for Partnerships
    • Summary of Assessable Assets of Sole Traders and Partnerships
    • Summary of Assessable Assets of Sole Traders Only
    • Summary of Assessable Assets of Partnerships Only
  • 10.3.3 Assessing the Income & Assets from Private Companies pre 01/01/2002
    • Assessable Income from Private Companies pre 01/01/2002
    • Assessable Assets from Private Companies & Unlisted Public Companies
    • Treatment of Assessable Assets - Private & Unlisted Public Companies - Not Assessed under New T & C Rules
  • 10.3.5 Assessing the Income & Assets from Primary Production
    • Assessable Income & Assets from Primary Production
    • Primary Production Aggregation Assessment for Sole Traders & Partnerships
    • Primary Production Aggregation Assessment for Companies & Trusts
  • 10.3.6 Attribution Guidelines for Private Trusts & Private Companies - From 01/01/2002
    • Designated Private Company
    • Designated private trust
    • Controlled Private Company
    • Controlled Private Trust
    • The Source Test
    • Associate Rule
  • 10.3.7 Attribution Percentage & Derivation and Attribution Period - From 01/01/2002
    • Attribution Percentage
    • Derivation & Attribution Period
  • 10.3.8 Other Trust Matters - From 01/01/2002
    • Discretionary Trust, Rural Succession Trust, and Fixed Unit Trust
    • Testamentary Trust
    • Life Interest and Remainder Interest
    • Protective Trust
    • Constructive Trust and Implied Trust
    • Excluded Trust
    • Assessable Income & Assets from a Court-Ordered (Statutory) Trust
  • 10.3.9 Assessing the Assets of a Private Trust or Company - From 01/01/2002
    • Valuation of the Assets of a Designated Private Trust & Company
    • An Excluded Asset of a Controlled Private Trust or Company
    • Security of Tenure - Home owned by a Private Company or Trust
    • Homeowner & Non-Homeowner where Home is owned by a Private Company or Trust
  • 10.3.10 Liabilities of a Private Trust or Company - From 01/01/2002
    • Non-Recognised Liabilities of a Controlled Private Company or Trust
    • Recognised Liabilities of a Controlled Private Company or Trust
    • Apportioning a Liability of a Controlled Private Company or Trust
  • 10.3.11 Assessment of Capital Injection to a Private Trust or Company - From 01/01/2002
    • Capital Injection in Return for Equity in a Private Trust or Company
    • Gifting to a Private Trust or Company
    • Gifting private trust units where the only trust asset is the pensioner's principal home
  • 10.3.12 Assessing the Income of & Distributions from a Private Trust or Company - From 01/01/2002
    • Income Attribution
    • Allowable & Non-allowable Income Deductions
    • Distribution of the Capital of a Private Trust or Company
    • Distribution of capital on wind-up of a private trust or company
    • Distribution of the Income of a Private Trust or Company to an Attributable Stakeholder
    • Retained Profits and Adjustments for Non-Allowable Deductions
    • Distribution of the Income of a Private Trust or Company to a Non-attributable Stakeholder
  • 10.3.13 Reassessment & Overpayments for a Private Trust or Company - From 01/01/2002
    • Reassessment of a Controlled Private Trust or Company
    • Examples of Possible Reasons for a Reassessment
    • Overpayment relating to a Controlled Private Trust or Company
  • 10.3.14 Resignation from a Private Trust or Company
    • Resignation from a Controlled Private Trust or Company on or after 1 January 2002
    • Resignation from a Controlled Private Trust or Company before 1 January 2002
  • 10.3.15 Deprivation Provisions for Private Trusts or Companies
    • Disposal of Assets to a Private Trust or Company before 1 January 2002
    • Disposal of Assets to a Private Trust or Company on or after 1 January 2002
    • Disposal of the Assets of a Private Trust or Company on or after 1 January 2002
    • Concessions for a Pensioner Surrendering Control of a Private Company or Trust before 1 April 2002
  • 10.3.16 Primary Production Private Trust & Company Issues - From 01/01/2002
    • Aggregation Assessment of a Controlled Primary Production Private Trust & Company
    • Qualification Provisions for the Primary Production Concession
    • Example of Primary Production Concession & other Related Issues
    • Other Primary Production Issues
  • 10.3.17 Additional Privacy Guidelines for a Private Trust or Company
  • 10.3.18 Assessment - Special Disability Trusts
    • Overview of Assessment - Special Disability Trusts
    • Eligibility of the Principal Beneficiary
    • Trust Purpose
    • Assessment of Income and Assets for SDT
    • Gifting to Special Disability Trusts
  • 10.3.19 Rules and Requirements - Special Disability Trusts
    • Overview of Rules and Requirements - Special Disability Trusts
    • Trustee Requirements
    • Transitional Trusts
    • Reporting Requirements
    • Non-complying SDT
    • Waiver
    • Investment Rules
    • Expenditure Rules
    • Audit Requirements
    • Obligations in Relation to Special Disability Trusts

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Important legislative change

Note that the Safety, Rehabilitation and Compensation (Defence-related Claims) Act 1988 (DRCA) commenced on 12 October 2017.

As a result of this legislative change, the Department is updating its published information, including hardcopy and website content, as well as CLIK. While this process is well underway, it will take some time before all changes are complete. In the meantime, references within CLIK to the Safety, Rehabilitation and Compensation Act 1988 or SRCA should now generally be understood to be references to the new DRCA (with the exception of intended historical references to SRCA). It is important to note that the same provision references (i.e., sections, subsections and paragraphs) from the SRCA have been retained in the DRCA.

We appreciate your patience during this change process.

Accessed: 24 September 2023
URL: https://clik.dva.gov.au/compensation-and-support-policy-library/part-10-types-income-and-assets/103-business-structures-and-trusts/1034-assessing-income-assets-trusts-pre-01012002