Policy

 Assessment of income from real estate

The current net income from real estate is treated as income for DVA purposes.

Last amended: 9 October 2006

Business structures

[glossary:Income:31] and [glossary:assets:296] are assessed differently for business structures, depending on the nature of the business structure. The three main categories of business structure are:

• sole traders    
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Calculating the asset value

This table shows how to calculate the asset value of an Asset-tested Long Term Income Stream where the superannuation agreement or court order specifies that payments from the original Family Law Affected income stream owned by the member are to be a split with the former partner (non-member) on a percentage basis.

For Asset-test Exempt Income Streams, Allocated or Account-based Income Streams, Defined Benefit Income Streams or Lifetime Income Streams, see the relevant pages under 10.5.6 Family Law Affected Income Streams.

Distribution paid to a non-attributable stakeholder before 1 July 2000

Last amended: 13 May 2008

Asset value of 100% asset test exempt income streams

Regardless of whether an income stream is a 100% [glossary:asset test exempt income stream:236] or a [glossary:defined benefit income stream:96], no asset value is held in the assessment.

VEA

This section contains information on the concept of assets value and assessing th — e market value of assets.

Summary of attribution percentage

Attribution of the [glossary:assets:296] and [glossary:income:31] of [glossary:controlled private trusts:86] and [glossary:controlled private companies:72] should be determined with reference to the individual(s), or [glossary:members of a couple:84] who [glossary:control:461] the structure.