10.3.7 Attribution Percentage & Derivation and Attribution Period - From 01/01/2002
This section contains information on determining attribution percentages from 1 January 2002 for individuals who control private trusts or private companies. It also contains information on derivation and attribution periods.
10.3.14 Resignation from a Private Trust or Company
This section contains information on the resignation of an attributable stakeholder from a controlled private trust or controlled private company both before and after 1 January 2002.
Concessions for a Pensioner Surrendering Control of a Private Company or Trust before 1 April 2002
Controller of an entity who surrenders control between 01/01/2002 and 31/03/2002
If a pensioner who is a controller of a private trust or private company wishes to surrender [glossary:control:461] of the trust or company, they may do so prior to 1 April 2002 and have any possible deprivation assessed under the rules in force prior to 1 January 2002. This concession was announced by the Government on 20 December 2001.
10.3.10 Liabilities of a Private Trust or Company - From 01/01/2002
This section contains information on the treatment of liabilities of [glossary:controlled private trusts:86] and [glossary:controlled private companies:72]. It discusses how to determine a genuine liability and the method of apportioning an entity's liability.
Table of Life Expectancy for Income Streams with a Commencement Day on or after 01/05/93 to 31/12/95
Last amended: 13 May 2008
How to use life expectancy tables
The following table shows how to select and use the appropriate [glossary:life expectancy:348] table in the assessment of an [glossary:income stream:406].
|
Step |
Action |
|
1 |
Determine the commencement day of the income stream to be assessed and ensure that the correct table is used. |
10.3.4 Assessing the Income & Assets from Trusts pre 01/01/2002
This section provides information on assessing the income and assets from trusts not covered under the new 01/01/2002 private trusts and private companies' rules.
Value of Assets not Readily Accessible and Asset-tested Income Streams
Last amended 17 June 2009
Value of assets not readily accessible
If an asset is unrealisable the value of the asset can be assessed as being less than the face value. If financial hardship is involved, the hardship provisions may apply.