Assessing and coding the Private Company details from the MOD PC 043-04010040

Policy

Social Security Guide, 4.1, Deprivation of Income & Assets

Social Security Guide, 4.7 Assessing the income & Assets from Trust pre-01/01/2002

Social Security Guide, 4.12, Means Test Treatment of Private Trusts & Private Companies from 01/01/2002

Legislation

Links to the Federal Register of Legislation site go to a 'Series' page. Select the 'Latest' version.

Income

Social Security Act 1991

• section 8(2), Income amount earned, derived and received
• section 1073, Certain amounts taken to be received over 12 months

Assets

Social Security Act 1991

• section 9(1), Deprived assets
• section 1123(1), disposal of assets

Deemed income from financial assets

Social Security Act 1991

• section 1076(1), Deemed income from financial assets - person other than members of couples
• section 1077(1), Deemed income from financial assets - members of pensioner couples

Loans

Social Security Act 1991, section 1122, Loans

Simplified outline of means test treatment of private companies and trusts

Social Security Act 1991, section 1207, Simplified outline

Definitions relating to private trusts and companies

Social Security Act 1991

• section 1207A, Definitions
• section 1207N, Designated private companies
• section 1208E, Attribution of assets