4Definitions

4 Definitions

4 Definitions

In this Part—

estate includes trust or fund.

GST has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth.

trustee includes an administrator or executor or any other person acting in a similar fiduciary capacity.

value means—

(a) in relation to a managed person’s estate (other than a managed missing person), the gross amount of the value of the assets (whether real or personal) of the estate without deduction of debts or liabilities secured or unsecured, but does not include the value of the person’s principal place of residence, or

(b) in relation to a managed missing person’s estate, the gross amount of the value of the assets (whether real or personal) of the estate without deduction of debts or liabilities secured or unsecured, but does not include the value of the person’s last known principal place of residence.

Note.

Costs is defined in the Act to include fees, charges, commission, disbursements, expenses and remuneration.