Veterans' Entitlements (Means Test Treatment of Private Trusts — Excluded Trusts) Declaration 2001 (Cth)

Veterans' Entitlements (Means Test Treatment of Private Trusts — Excluded Trusts) Declaration 2001

The Repatriation Commission makes this Declaration under subsection 52ZZB (4) of the Veterans' Entitlements Act 1986.

Dated 10 August  2001

NEIL JOHNSTON PRESIDENT IAN CAMPBELL DEPUTY PRESIDENT PAUL STEVENS
COMMISSIONER

Repatriation Commission

Part 1  Preliminary

1. Name of Declaration

This Declaration is the Veterans' Entitlements (Means Test Treatment of Private Trusts — Excluded Trusts) Declaration 2001.

1. Commencement

This Declaration commences on gazettal.

1. Purpose

This Declaration specifies classes of trusts that are excluded trusts for section 52ZZB of the Act.

1. Definitions

In this Declaration:

Act means the Veterans' Entitlements Act 1986.

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

court, in relation to a matter, means:

(a)a court exercising federal jurisdiction in relation to the matter, other than a court exercising jurisdiction in proceedings under the Family Law Act 1975; or

(b)a court of a State or Territory, including a court of summary jurisdiction, exercising jurisdiction in relation to the matter.

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 Act.

indigenous-held land has the same meaning as in section 4B of the Aboriginal and Torres Strait Islander Commission Act 1989.

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

Part 2  Specified classes of trusts

1. Community trusts are excluded trusts

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

(2)A community trust is a trust that has the sole or dominant purpose of receiving, managing and distributing:

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

(b)income generated from the use of indigenous-held land.

1. Court-ordered trusts are excluded trusts

(1)Each trust that is a court-ordered trust is an excluded trust for section 52ZZB of the Act.

(2)A court-ordered trust is a trust created by an order of a court that:

(a)relates to a personal injury matter; and

(b)provides for some or all of the proceeds of the judgment of the court, or of a settlement between parties, to be held in trust for the benefit of the person in whose favour the judgment or settlement was made.

1. 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.