Last amended: 27 August 2008
Examples of regular earnings include:
which is continuing, and which provides a regular and relatively unchanging rate of income.
Last amended: 13 May 2008
Jack, a 62 year old [glossary:service pensioner:245], did not notify of the [glossary:deductible amount:468] for his [glossary:income stream:406] prior to 1 July 2007. The income stream commenced prior to 1 July 2007. Because no deductible amount was recorded under the pre 1 July 2007 rules method, Jack is not covered by the saving provision. From 1 July 2007, the new 1 July 2007 rules method will apply.
While the new rules for trusts and companies have largely replaced methods of valuing shares, an acceptable method is still required where:
This section contains information on the treatment of various types of controlled private trusts such as protective, testamentary and fixed (non-discretionary) trusts from 1 January 2002. It also includes information on trusts that are excluded under Part IIIB, Division 11A of the VEA.
Income from [glossary:financial investments:437] including cash, deposits accounts, managed investments, listed securities, loans, unlisted securities, gold, silver, platinum bullion, and asset-tested short term income streams is assessed using the [glossary:deeming provisions:256].
The effect of a trust on a person's payment under the income and assets tests depends on whether they:
A [glossary:company:602] is a [glossary:designated private company:420] if:
Last amended: 20 June 2022
This topic provides information on the following:
Last amended: 29 January 2014
