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Veterans' Entitlements (Means Test Treatment of Private Trusts — Excluded Trusts) Declaration 2015

Instrument 2015 No. R10

The REPATRIATION COMMISSION makes this Declaration under subsection 52ZZB (4) of the Veterans' Entitlements Act 1986 (VEA).

Dated this 6th day of  August  2015

Simon Lewis                                               Craig Orme
……………………………………………………………………………
SIMON LEWIS                                                                       CRAIG ORME
                                                                                                   AM CSC
   PRESIDENT                                                                  DEPUTY PRESIDENT

Part 1: Preliminary

    1.1  Name of declaration

  This Declaration is the Veterans' Entitlements (Means Test Treatment

  of Private Trusts – Excluded Trusts) Declaration 2015.

    1.2 Commencement

  This Declaration commences on the day after registration.

    1.3 Revocation

  The Veterans' Entitlements (Means Test Treatment of Private Trusts –

  Excluded Trusts) Declaration 2005 (Instrument 2005 No.6) is revoked.

    1.4 Purpose

 This purpose of this Declaration is to specify classes of trusts that are               excluded trusts for section 52ZZB of the VEA.

    1.5 Definitions

  In this Declaration:

 community purpose means a purpose that is intended to benefit  primarily the members of a particular community or group.

 government body includes the following kinds of body:

   (a)a department or agency of the Commonwealth;
   (b)a department or agency of a State or Territory;
   (c)a municipal corporation or other local government body;
   (d)a body corporate in which the Commonwealth, a State or a                              Territory body holds a controlling interest.

 income has the same meaning as in subsection 52ZZB (7) of the VEA.

 indigenous-held land has the same meaning as in section 4B of the               Aboriginal and Torres Strait Islander Act 2005.

 reference time means 7.30 pm, standard time in the Australian Capital               Territory, on 9 May 2000.

Part 2: Specified classes of trusts

    2.1  Community trusts are excluded trusts

 (1) Each trust that is a community trust is an excluded trust for                                                          section 52ZZB of the VEA.

 (2) A community trust is a trust that has the sole or dominant                                                          purpose of:

   (a) receiving, managing or distributing property transferred                                                         directly to it, or through an interposed entity, by a                                                                       government body for a community purpose; or

   (b) holding, managing or disposing of indigenous-held land,                                                         for a community purpose; or

   (c) receiving, managing or distributing income that:

     (i) has been generated from indigenous-held land;                                                                                     and
     (ii) is applied for a community purpose.

    2.2  Fixed trusts created before reference time are excluded trusts

 (1) Each trust that is a fixed trust created before the reference time                                                         is an excluded trust for section 52ZZB of the Act.

 (2) However, a trust referred to in subsection (1) is not an excluded                                                         trust, if after the reference time:

   (a) the trust has been varied under the trust deed; or

   (b) there has been a transfer of property (other than income                                                         generated by the trust) to the trust.