Completing the Private Trust details in the MOD PT 043-04020030

The information collected in conjunction with the MOD PT enables Services Australia to assess income and assets from a private trust.

The MOD PT provides the following details:

• all parties acting as appointers and trustees
• all unit holders and the nature and extent of their unit holding
• contributors and the extent of their contribution
• genuine investors and the extent of their investment (equity contribution)
• customer's loans to the trust and the extent of those loans (loan contribution)
• customers who have made gifts and the extent of their gifts (gift contribution)
• the relationship of the parties to each other
• percentage of income from personal exertion for Work Bonus eligible customers

All private trusts require the completion of a MOD PT

As much of the information required on the MOD PT is only available from those who know the details of the trust, staff will not be able to help the customer complete the form. Services Australia suggests the customer talks to the trust tax agent or accountant and considers having them complete the form on their behalf. However, it is still the responsibility of the customer to ensure the form is completed and returned. If a customer (or their partner) requires an accountant or tax agent to assist in completing the form, the department will not reimburse any fees charged.

The MOD PT requires customers (and/or their partners) to attach documents such as taxation returns, profit and loss statements, balance sheets, depreciation schedules, trust deeds, etc. When the MOD PT is returned, Service Officers should ensure that all questions on the form have been completed and that all appropriate documents have been attached. See Documents required to assess a private trust for guidance.

Scan all documents provided and then record a referral to the Complex Assessment Officer (CAO).

If the customer (or their partner) is involved in more than one private trust a separate MOD PT is required for each private trust. Customers (or their partners) who indicate they are involved in a business as a sole trader or are a member of a partnership need to complete a Module F (Business). If they are involved in a private company, they will need to complete a Module PC (Private Company).