Individual ceases to be an attributable stakeholder of a company or trust
Section 52ZZY VEA
Part IIIB, Division 4, Subdivision C VEA – Family law affected income streams
The value of any life interest of a person is a disregarded asset unless it was created:
A court may decide that a trust exists due to the conduct of the relevant parties, although no action has been taken to declare a trust in writing.
Example: These trusts include:
The primary purpose of a superannuation scheme is to provide its beneficiaries with financial resources and other benefits during their retirement. Other benefits in some schemes include death benefits for surviving dependants and disability benefits. The Australian superannuation system is intended to fund higher standards of retirement living than continuing reliance on [glossary:income support pensions :79] as the primary source of retirement income.
This section contains information on the types of assessable income from property.
Amounts in [glossary:superannuation funds:257] owned by a non-pensioner [glossary:partner:370] are exempt from assessment for the pensioner's [glossary:income support pension:79] until the non-pensioner partner reaches [glossary:pension age:316], regardless of whether or not the non-pensioner partner claims pension. When the non-pensioner partner reaches pension age their superannuation affects the pensioner's entitlements as follows:
This section contains information on the assessment of income from overseas, including pension, war pension, war widow/er's pension and restitution payments.
