Social Security (Means Test Treatment of Private Trusts Excluded Trusts) (DEEWR) Declaration 2008 (Cth)

Social Security (Means Test Treatment of Private Trusts – Excluded Trusts) (DEEWR) Declaration 2008

Social Security Act 1991

I, LISA MARIAN PAUL, Secretary of the Department of Education, Employment and Workplace Relations, make this instrument under subsection 1207P(4) of the Social Security Act 1991.

Dated      14 June   2008

Lisa Marian Paul

Secretary

Department of Education, Employment and Workplace Relations

1              Name of Declaration

   This Declaration is the Social Security (Means Test Treatment of Private Trusts – Excluded Trusts) (DEEWR) Declaration 2008.

2              Commencement

This Declaration commences on the day after it is registered.

3              Revocation

The following declarations are revoked:

Social Security (Means Test Treatment of Private Trusts – Excluded Trusts) Declaration 2005 signed by Bill Burmester acting Secretary of the Department of Education, Science and Training on 17 May 2005; and

Social Security (Means Test Treatment of Private Trusts – Excluded Trusts) Declaration 2007 (DEWR).

4              Definitions

In this Declaration:

Act means the Social Security Act 1991.

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 1207P(7) of the Act.

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.

5              Community trusts are excluded trusts

(1) Each trust that is a community trust is an excluded trust for the purposes of section 1207P of the Act.

(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.

6              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 the purposes of section 1207P 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.