Veterans' Entitlements (Attribution of Assets) Principles 2025 (Cth)

Veterans' Entitlements (Attribution of Assets) Principles 2025 The Repatriation Commission makes the following instrument. Dated 19 February 2025

The Seal of the Repatriation Commission was affixed to this instrument in the presence of: Alison Frame Mark Brewer AM CSC and Bar President Deputy President

Gwen Cherne Kahlil Fegan DSC AM Commissioner Commissioner

Part 1 Preliminary

1 Name This instrument is the Veterans' Entitlements (Attribution of Assets) Principles 2025.

2 Commencement This instrument commences on the day after the day it is registered.

3 Authority This instrument is made under section 52ZZZQ of the Veterans' Entitlements Act 1986.

3A Repeal Schedule 3 to the Veterans' Affairs (Legislative Instrument Re-making Exercise) Instrument 2014 is repealed.

4 Definitions Note: A number of expressions used in this instrument are defined in the Act, including the following: 1. arm's length amount (see section 52ZO); 2. attributable stakeholder – of a company or trust (see section 52ZZJ); 3. Commission (see section 5Q); 4. company (see section 52ZO); 5. trust (see section 52ZO of the Act). In this instrument, unless the contrary intention appears: Act means the Veterans' Entitlements Act 1986. social security entitlement has the same meaning it has in the Social Security Act 1991.

Part 2 Excluded assets

5 Purpose of Part 2 The purpose of this Part is to set out decision-making principles with which the Commission must comply for the purposes of making a determination under subsection 52ZZR(2) of the Act. 6 Excluded asset — capital transfer by genuine investor

(1) This section applies if an individual (the investor), who is not an attributable stakeholder of a company, makes a genuine transfer of capital to the company for shares in the company. 1. This section also applies if an individual (the investor), who is not an attributable stakeholder of a trust, makes a genuine transfer of capital to the trust for units in the trust. (3) For subsections (1) and (2), a transfer of capital is a genuine transfer of capital if: (a) the investor is over 18 years; and (b) the investor receives, as consideration for the transfer, shares in the company, or units in the trust, of a value that is equivalent to the value of the capital transferred; and (c) the investor has a legal or equitable right to a share of the capital on the winding-up of the company or trust; and (d) the investor has a legal or equitable right to receive dividends or distributions under the constituent documents of the company or the terms of the trust. 1. The Commission must consider the extent to which capital transferred in accordance with subsection (3) should be determined to be an excluded asset in relation to an attributable stakeholder of the company or trust, having regard to: (a) the value of the capital transferred to the company or trust; and (b) the value of shares or units received by the investor; and (c) the extent, if any, to which the value of the capital would not be required to be disregarded by any express provision of the Act.