Part Part 2 - Veterans’ Entitlements (Modification of Asset Deprivation Rules) Principles 2025 - Disposal of asset (on or after 1 January 2002) by individual

Part 2 Disposal of asset (on or after 1 January 2002) by individual

5 Purpose of Part 2

This Part sets out decision-making principles with which the Commission must comply in making a determination for subsection 52ZZW(1) of the Act.

6 Definitions

In this Part:

individual means an individual who transfers property to a company or trust in accordance with subsection 52ZZWB(1) of the Act.

transfer of property means a transfer of property by way of capital contribution.

7 Transferor as sole attributable stakeholder

This section applies to an individual who is not a member of a couple.
The Commission must take into account whether the individual was the only attributable stakeholder of the company or trust, either before or after the transfer.

8 Transferor as member of couple

This section applies to an individual who is a member of a couple.
The Commission must take into account whether:
the individual was the only attributable stakeholder of the company or trust, either before or after the transfer; or
both members of the couple were the only attributable stakeholders of the company or trust, either before or after the transfer.

9 Transfer to company or trust with 2 or more attributable stakeholders

This section applies if, in relation to a transfer of property to a company or trust:
the transfer is made by an attributable stakeholder of the company or trust; and
before the transfer, there were 2 or more attributable stakeholders of the company or trust.
This section also applies if, in relation to a transfer of property to a company or trust:
the transfer is made by an attributable stakeholder of the company or trust; and
after the transfer, there were 2 or more attributable stakeholders of the company or trust.
The Commission must take into account the income attribution percentage of each attributable stakeholder of the company or trust, before and after the transfer of the property.

10 Transfer to company or trust by individual who becomes attributable stakeholder

This section applies if, in relation to a transfer of property to a company or a trust: