Policy

This topic reserved pending gazettal of its relative disallowable instrument.

Last amended: 13 May 2008

Description of pension valuation factors

The [glossary:pension valuation factor:587] used depends on the:

• indexation rate of the [glossary:defined benefit income stream:96], and
• age of the pensioner.

The indexation rates range from less than 1% to 8%. The pension valuation factors reduce as the age of the pensioner increases. Each factor covers an age range of 5 years:

This section contains information on when a reassessment of a controlled private trust or controlled private company is appropriate. It also contains information on overpayments of a pension or allowance in respect to a private trust or private company.

Last amended: 2 July 2013

This section contains information on the assessment of income and assets from private companies prior to 1 January 2002.

This section contains information on the assessment of the [glossary:assets:296] of [glossary:Controlled Private Trusts:86] and [glossary:Controlled Private Companies:72].

This section contains information on what details can and cannot be released to persons who are involved in private trusts and private companies.

Overview

Apart from the exceptions in this section, self managed superannuation funds (SMSFs) and Small APRA Funds (SAFs) are assessed in the same manner as other income streams.

This section contains

Possible cause for reassessment

When a pensioner requests a reassessment of an entity's circumstances s/he must show just cause as to why this should occur. The following outlines a number of circumstances that may warrant a reassessment. However, this is not a definitive list. Each case will need to be examined on its merits.

Some of the circumstances that may warrant a reassessment are: