Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of this Division, if a company is a controlled private company in relation to an individual:
(a) the individual is an attributable stakeholder of the company unless the Commission otherwise determines; and
(b) if the individual is an attributable stakeholder of the company--the individual's asset attribution percentage in relation to the company is:
(i) 100%; or
(ii) if the Commission determines a lower percentage in relation to the individual and the company--that lower percentage; and
(c) if the individual is an attributable stakeholder of the company--the individual's income attribution percentage in relation to the company is:
(i) 100%; or
(ii) if the Commission determines a lower percentage in relation to the individual and the company--that lower percentage.
(2) For the purposes of this Division, if:
(a) a trust is a controlled private trust in relation to an individual; and
(b) the trust is not a concessional primary production trust in relation to the individual (see section 52ZZZF);
then:
(c) the individual is an attributable stakeholder of the trust unless the Commission otherwise determines; and
(d) if the individual is an attributable stakeholder of the trust--the individual's asset attribution percentage in relation to the trust is:
(i) 100%; or
(ii) if the Commission determines a lower percentage in relation to the individual and the trust--that lower percentage; and
(e) if the individual is an attributable stakeholder of the trust--the individual's income attribution percentage in relation to the trust is:
(i) 100%; or
(ii) if the Commission determines a lower percentage in relation to the individual and the trust--that lower percentage.
(2A) The only attributable stakeholder of a special disability trust is the principal beneficiary of the trust.
Note 1: For special disability trust , see section 52ZZZW.
Note 2: For principal beneficiary of a special disability trust, see subsection 52ZZZWA(1).
Determinations
(3) A determination under this section is to be in writing.
(4) A determination under this section has effect accordingly.
(5) In making a determination under this section, the Commission must comply with any relevant decision - making principles.