Financial Planning --- Page: 26-28 : December 2006 Original article by Michael Hallinan
ABIX Summary
Special Disability Trusts were introduced in Australia on 20 September 2006. People with severely disabled children or grandchildren can place assets in the trusts without negative repercussions from Centrelink. Gifts allocated to a special disability trust are not treated as an asset deprivation under the five-year gifting rules, unless immediate family members contribute over $A500,000. The trusts are classed as private trusts for stamp duty purposes. Special disability status is foregone if the principal beneficiary dies.
