Document ID: chunk:federal_register_of_legislation:F2015L00068:front:0:p20
Version: federal_register_of_legislation:F2015L00068
Segment Type: other
Provision Reference: 
Character Range: 52346–55127

or both, of the trust.

19 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.

20 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 18 or 19) 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.

21 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.

22 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.

Part 4 Determination of income attribution percentage

23 Purpose

  This Part sets out decision-making principles with which the Commission must comply in making a determination, under subparagraph 52ZZJ (1) (c) (ii) or (2) (e) (ii) of the Act, that an attributable stakeholder's income attribution percentage, in relation to a company or trust, is a specified percentage lower than 100%.

24 Application

 (1) This Part applies if, but for a determination by the Commission, the income attribution percentage of the attributable stakeholder, in relation to the company or trust, would be 100%.

 (2) The Commission must consider the relationship between the individual and the company or trust, having regard to the circumstances mentioned in this Part.

 (3) In particular, the