Document ID: chunk:federal_register_of_legislation:F2015L00068:front:0:p22
Version: federal_register_of_legislation:F2015L00068
Segment Type: other
Provision Reference: 
Character Range: 57438–60199

the case of a distribution by a trust — of the corpus or income, or both, of the trust.

28 Future benefit from distributions by company or trust

 (1) The Commission must consider whether it is reasonably foreseeable that the individual may receive a benefit from a future distribution by the company or trust.

 (2) If subsection (1) applies, the Commission must also consider the likely value of the benefit.

 (3) For this section, the Commission must have regard to:
 (a) the constituent documents of the company; or
 (b) documents, if any, establishing the terms of the trust.

 (4) For this section, a distribution includes distributions:
 (a) in the case of a distribution by a company — of the capital or income, or both, of the company; and
 (b) in the case of a distribution by a trust — of the corpus or income, or both, of the trust.

29 Benefit from assets and income of company or trust

 (1) The Commission must consider whether the individual receives or derives any kind of benefit (other than a benefit mentioned in section 27 or 28) from the assets or income, or both, of the company or trust.

 (2) For this section, benefit:
 (a) is not limited to a benefit to which the individual has a legal or equitable entitlement; and
 (b) includes benefits received or derived in the form of property or services.

30 Existing attribution to individual

 (1) The Commission must consider whether the individual is:
 (a) under the Act — an attributable stakeholder of any other company or trust; or
 (b) under the Social Security Act 1991 — an attributable stakeholder of the company or trust, or of any other company or trust.

 (2) If subsection (1) applies, the Commission must also consider:
 (a) the asset attribution percentage attributed to the individual, if any; and
 (b) the income attribution percentage attributed to the individual, if any.

31 Other circumstances

  The Commission must consider any other circumstance that affects the involvement of the individual with the activities or the administration of the company or trust.

Schedule 3
Note: the reference to Schedule 3 is not part of the instrument in Schedule 3.

Instrument 2014 No. R68

Veterans' Entitlements (Attribution of Assets) Principles 2001

Contents

Page
Part 1 Preliminary

 1Name of Principles

 2Commencement

 3Definition

 4 Purpose

Part 2 Excluded assets

 5Purpose of Part 2

 6Excluded asset — capital transfer by genuine investor

Part 3 Excluded charge or encumbrance

 7Purpose of Part 3

 8Determination that charge or encumbrance is excluded

 9Criteria for arm's length transaction

 10Other matters

Part 4 Effect of loan not secured by charge or encumbrance over asset of company or trust

 11Purpose of Part 4

 12Effect of unsecured loan