External
Policy
Determining a designated private trust
A trust is a designated private trust unless:
- all three of the following sub-conditions are satisfied:
- the trust is a fixed trust,
- the units in the trust are held by 50 or more persons, and
- the trust was not created or operated under a scheme that was entered into to gain a Veterans' Affairs or Social Security advantage, or
- the trust is a complying superannuation fund, or
- the trust is an excluded trust.
More →More → (go back)
Legislation Library – Commission Determinations
Means Means Test Treatment of Private Companies – Excluded Companies – Declaration 2001
Once it has been determined that the trust is a designated private trust, then the issue of who controls the assets and income of the trust and the percentage of control to be attributed to the individual(s) can be decided