Social Security Act 1991

For the purposes of this Part, if a company is a controlled private company in relation to an individual:

the individual is an attributable stakeholder of the company unless the Secretary otherwise determines; and

if the individual is an attributable stakeholder of the company—the individual’s asset attribution percentage in relation to the company is:

100%; or

if the Secretary determines a lower percentage in relation to the individual and the company—that lower percentage; and

if the individual is an attributable stakeholder of the company—the individual’s income attribution percentage in relation to the company is:

100%; or

if the Secretary determines a lower percentage in relation to the individual and the company—that lower percentage.

For the purposes of this Part, if:

a trust is a controlled private trust in relation to an individual; and

the trust is not a concessional primary production trust in relation to the individual (see section 1208U);

the individual is an attributable stakeholder of the trust unless the Secretary otherwise determines; and

if the individual is an attributable stakeholder of the trust—the individual’s asset attribution percentage in relation to the trust is:

100%; or

if the Secretary determines a lower percentage in relation to the individual and the trust—that lower percentage; and

if the individual is an attributable stakeholder of the trust—the individual’s income attribution percentage in relation to the trust is:

100%; or

if the Secretary determines a lower percentage in relation to the individual and the trust—that lower percentage.

The only attributable stakeholder of a special disability trust is the principal beneficiary of the trust.

For special disability trust, see section 1209L.

For principal beneficiary of a special disability trust, see subsection 1209M(1).

A determination under this section is to be in writing.

A determination under this section has effect accordingly.

In making a determination under this section, the Secretary must comply with any relevant decision‑making principles.