Policy

Explanation of capitalised maintenance

Capitalised maintenance income is income provided by a:

Principles for assessing superannuation assets

DVA's assessment of a pensioner's superannuation assets depends on:

• whether the superannuation assets are in the [glossary:accumulation phase:138] or [glossary:draw down phase:552], and
• the pensioner's age.

Assessment in the accumulation phase

VEA →

What is a controlled private company?

A [glossary:company:602] is a [glossary:controlled private company:72] in relation to an individual if:

• the company is a [glossary:designated private company:420], and
• the individual passes the private companies [glossary:control test:198], or
• the individual passes the [glossary:source test:186].

When deciding whether an individual passes the [glossary:control:461] or source tests reference must be had to the [glossary:associates:491] of the individual.    

Last amended: 9 December 2008

War widow/widower definition

Under the VEA, the definition of war widow/widower includes a person who is receiving a pension payable under the law of a foreign country, that is similar in character to an Australian war widow's/widower's pension.    

This section contains information on the assessment of [glossary:income:31] and [glossary:assets:296] of [glossary:sole traders:700] and [glossary:partnerships:513].

Last amended: 18 June 2010

Assessment of maintenance

When a pensioner is receiving maintenance, the delegate of the [glossary:Commission:545] must determine:

Last amended: 12 July 2005

Last updated 22 December 2010

Assessable income

The following table summarises the assessable income, and its treatment, for pensioners from a sole trader's business or a [glossary:partnership:513].

This section contains information about the assessable income and assets from primary production.

Last amended: 9 October 2006

Non-complying use of capital/income

If the income or capital of the [glossary:special disability trust:293] (SDT) is used for purposes which make it a non-complying trust, then the trust will be assessed under the normal trust and company rules from the date the trust was deemed by a delegate to be non-complying. Any gifts will lose their concessional treatment from the date that the trust becomes non-complying.

Non-compliance events

Events which could result in the trust being non-complying include: