Families, Community Services and Indigenous Affairs and Other Legislation (2006 Budget and Other Measures) Act 2006
1209RTrust property requirements
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1209R Trust property requirements
(1) The assets of the trust must not include any asset transferred to the trust by the principal beneficiary of the trust, or the principal beneficiary’s partner, unless:
(a) the transferred asset is all or part of a bequest, or of a superannuation death benefit; and
(b) the transferor received the bequest or superannuation death benefit not more than 3 years before transferring the transferred asset.
(2) The assets of the trust must not include any compensation received by or on behalf of the principal beneficiary.
(3) The trust must not be used to pay an immediate family member, or a child, of the principal beneficiary for the provision to the beneficiary of:
(a) care services; or
(b) services for the repair or maintenance of the beneficiary’s accommodation.
(4) The trust must not be used to purchase or lease property from an immediate family member, or a child, of the principal beneficiary, even if the property is to be used for the beneficiary’s accommodation.
(5) In this section:
child, of a principal beneficiary, means the natural child, adopted child or step‑child of the beneficiary (no matter how old the child or step‑child is).
property includes:
(a) a right to accommodation for life in a residence; and
(b) a life interest in a residence.