Social Security (Special Disability Trust —Trust Deed, Reporting and Audit Requirements) Determination 2023 (Cth)

Social Security (Special Disability Trust —Trust Deed, Reporting and Audit Requirements) Determination 2023

I, Matt Flavel, acting Secretary of the Department of Social Services, make the following determination.

Dated 22 September 2023

Matt Flavel Acting Secretary Department of Social Services

Contents Part 1—Preliminary

1 Name 2 Commencement 3 Authority 4 Definitions............................................1

Part 2—Trust Deed Requirements 2 5 Form of the trust deed......................................2 6 Provisions which must be included in the trust deed and the form of those provisions 2 7 Provisions which cannot be included in the trust deed...................3

Part 3—Reporting Requirements 3 8 Qualifications of persons preparing financial statements..................3 9 Information that must be included in financial statements.................4 10 Income tax returns........................................5 11 Statutory declaration......................................5

Part 4—Auditing Requirements 5 12 Audit period...........................................5 13 Qualification of persons preparing audit...........................5 14 Information that must be included in audit..........................6

Part 1–Preliminary

1 Name This instrument is the Social Security (Special Disability Trust —Trust Deed, Reporting and Audit Requirements) Determination 2023.

2 Commencement This instrument commences on 1 October 2023.

3 Authority This instrument is made under subsections 1209P(2), 1209S(4) and 1209T(7) of the Social Security Act 1991.

4 Definitions In this instrument: Act means the Social Security Act 1991. Australian Accounting Standards means the accounting standards issued by the Australian Accounting Standards Board. Australian Auditing Standards means the auditing and assurance standards issued by the Auditing and Assurance Standards Board. model trust deed means the document titled 'Model Trust Deed for Special Disability Trusts' published by the Department of Social Services, as existing on 1 October 2023. Note The 'Model Trust Deed for Special Disability Trusts' is available on the Internet — see www.dss.gov.au. relevant financial year means: (a) in relation to a reporting requirement – the financial year about which the trustees are required to give financial statements under subsection 1209S(1) of the Act; or (b) in relation to an audit requirement — the financial year for which a person has requested an audit. trustee corporation means each of the bodies corporate listed in Schedule 9 to the Corporations Regulations 2001.