This page contains an example of the effect of the transitional gifting rules.
Examples
Transitional gifting rules example
This table describes an example of the effect of the transitional gifting rules.
|
Item |
Example |
|
1 |
Melanie and Charlie are a partnered couple. As a partnered couple they are considered to be one unit. They have gifted assets to an organisation sometime between 1 January 1997 and 31 December 2001. The three possible effects on amounts currently held as deprived assets as at 1 January 2002 are:
-
If Melanie and Charlie are attributed with all the assets of the organisation then deprivation ceases to apply for Melanie and Charlie from 1 January 2002, the date of the attribution determination
-
If Melanie or Charlie is attributed with all the assets of the organisation then deprivation for Melanie and Charlie ceases to apply from 1 January 2002, the date of the attribution determination
-
If Melanie and Charlie are together attributed with less than 100 percent of the assets of the organisation at 1 January 2002, or Melanie or Charlie are attributed with less than 100 percent of the organisation, then the original deprivation amount is reduced by the total percentage attribution of Melanie and Charlie at 1 January 2002. Original deprivation amount - (Melanie and Charlie's attribution percentage x original deprivation amount) for example, $100,000 - ((25+25)% x $100,000) = $50,000
|
Expand all