10.2.2 Determining the Value of an Asset
This section contains information on the concept of assets value and assessing th — e market value of assets.
Attribution Percentage
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.
Income Assessment of Purchased Income Streams
Part IIIB, Division 4 VEA – Income from income streams
Distribution of the Income of a Private Trust or Company to an Attributable Stakeholder
VEA →
Disposal of income by company or trust
Section 52ZZZC VEA
Disposal of ordinary income
Section 48 VEA
Treatment of Assessable Assets - Private & Unlisted Public Companies - Not Assessed under New T & C Rules
Treatment of assessable assets
The following table describes the treatment of assessable assets and provides references to further information, if appropriate.
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Policy Library - Assets
Assessable Income & Assets from Primary Production
Last updated 5 January 2007
Assessment for primary production
Rate of Income - Couples, Blind Pensioners and Children
Couples
Being a [glossary:member of a couple:84] affects treatment of income. It is important to verify a pensioner's status as a [glossary:member of a couple:84] before determining their rate.
Assessable Income and Assets from Statutory Trusts pre 01/01/2002
Assessment of income
The following table describes the assessment of income from [glossary:statutory trusts:49].
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If money is held by a public trustee or similar body... |
Then... |
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on behalf of an individual person |
the interest generated by its investment is the person's income. This is regardless of whether individual investment accounts are maintained or whether the property is held in a 'common fund'. |