Document ID: chunk:federal_register_of_legislation:F2015L00068:front:0:p16
Version: federal_register_of_legislation:F2015L00068
Segment Type: other
Provision Reference: 
Character Range: 41987–44990

company or trust

 18Past benefit from distributions by company or trust

 19Future benefit from distributions by company or trust

 20Benefit from assets and income of company or trust

 21Existing attribution to individual

 22Other circumstances

Part 4 Determination of income attribution percentage

 23 Purpose

 24Application

 25Circumstances affecting relationship with company or trust

 26Contribution to company or trust

 27Past benefit from distributions by company or trust

 28Future benefit from distributions by company or trust

 29Benefit from assets and income of company or trust

 30Existing attribution to individual

 31Other circumstances

Part 1 Preliminary

1 Name of Principles

  These Principles are the:

Veterans' Entitlements (Attributable Stakeholders and Attribution Percentages) Principles 2001.

2 Commencement

  These Principles commence when the Veterans' Affairs (Legislative Instrument Re-making Exercise) Instrument 2014 commences.

3 Definitions

  In these Principles:
Act means the Veterans' Entitlements Act 1986.
Commission means the Repatriation Commission continued in existence by section 179 of the Act.
company means a controlled private company.
contribution means:
 (a) a transfer of property or services, to a company or trust, at any time, whether before or after 7.30 pm, by standard time in the Australian Capital Territory, on 9 May 2000; and
 (b) any other kind of contribution:
 (i) in the case of a company — to either the capital or income of the company; and
 (ii) in the case of a trust — to either the corpus or income of the trust.
trust means a controlled private trust.

4 Purpose

  These Principles set out decision-making principles with which the Commission must comply in making a determination, under section 52ZZJ of the Act, that:
 (a) an individual is not an attributable stakeholder of a company or trust; or
 (b) a specified percentage, lower than 100%, is the asset attribution percentage, or income attribution percentage, of an attributable stakeholder of a company or trust.

Part 2 Determination that individual is not attributable stakeholder

5 Purpose

  This Part sets out decision-making principles with which the Commission must comply in making a determination, under paragraph 52ZZJ (1) (a) or (2) (c) of the Act, that an individual is not an attributable stakeholder of a company or trust.

6 Application

 (1) This Part applies if, but for a determination by the Commission, the individual would be an attributable stakeholder of the company or trust.

 (2) The Commission must consider the relationship between the individual and the company or trust having regard to:
 (a) the reason why, but for a determination, the individual would be an attributable stakeholder; and
 (b) the circumstances mentioned in this Part.

 (3) In particular, the Commission must consider whether the effect of one or more of the circumstances mentioned in this Part, in relation to the individual and the company or