10.1.3 Income Exempt from Assessment
This section contains information on income that is exempt from assessment.
10.3.6 Attribution Guidelines for Private Trusts & Private Companies - From 01/01/2002
This section contains information on the general guidelines for the attribution of income and assets of private trusts and private companies from 1 January 2002.
Table of Life Expectancy for Income Streams with a Commencement Day on or after 01/01/2000 to 31/12/2004
Last amended: 13 May 2008
DVA Income Exempt from Assessment
Last amended: 14 July 2022
Exempt income for service pension, veteran payment and income support supplement
Protective Trust
Protective trust definition
A protective trust is a trust established for a person who is unable to manage their own affairs.
Fixed protective trust established before 9 May 2000
If the trust is a fixed trust established before 9 May 2000, attribution should be determined according to an assessment of the trust assets or income, or both, under provisions outlined in the trust deed.
Changes made after 9 May 2000 to a fixed protective trust established before 9 May 2000
However, if after 9 May 2000:
Assessment where Fund Closes or is in Financial Difficulty
Last amended: 10 March 2011
Closure of fund
Where a self managed superannuation fund (SMSF) or small APRA fund (SAF) is wound up, the income ceases to be paid on the date that the fund is wound up. Any remaining assets in the fund are assessable in the same manner as superannuation from that date.
10.5 Income Streams
This chapter contains information on the various [glossary:income streams:406] that affect a pensioner's payments and the assessment of [glossary:income:31] and [glossary:assets:296] from an income stream.
See Also