Special Disability Trust Webinar

Special Disability Trust Webinar recording is now available! Explore the nuances of Special Disability Trusts and how they influence financial planning.

 

Thank you so much for joining our webinar! If you missed our live session or if you want to watch the recording again, here is where you can access the video.

 

Disclaimer: The information provided in this webinar is intended for educational purposes only. It does not constitute financial advice, legal guidance, or any form of professional recommendation. We encourage you to seek personalised advice from qualified professionals regarding your specific circumstances.

Click the video bellow to watch the Special Disability Trust Webinar

Key Topics from the Webinar:

• Special Disability Trusts (SDTs): Luke explained the purpose, benefits, eligibility, rules, taxation, reporting and compliance of SDTs for people with severe disabilities and their families.
• SDT deed and clauses: Luke highlighted some common errors and updates in the SDT deed and clauses and advised to use the model deed provided by Services Australia.
• SDT means testing: Luke clarified how the assets and income of the SDT are assessed for the beneficiary and the donor, and the exemptions and concessions available.
• SDT taxation: Luke outlined the tax treatment of the SDT income and assets, and the capital gains tax exemption for assets donated to the SDT.
• SDT reporting and auditing: Luke emphasised the importance of lodging the tax return and financial statements to Centrelink by 31 March each year, and the possibility of audits being requested by various parties.
• SDT state concessions: Luke briefly mentioned the state concessions for stamp duty and rates for SDT assets and advised to check with the local state or territory revenue office.
• SDT reasonable care and accommodation costs: Luke discussed the criteria and examples of reasonable care and accommodation costs for the SDT beneficiary, and the limit on discretionary spending.
• SDT related party rules: Luke explained the restrictions on transactions and services between the SDT and related parties, and the need to maintain an arm’s length relationship.
• SDT termination: Luke described what happens when the SDT beneficiary dies, and the potential impact on the donor’s gifting concession.
• SDT ideal clients: Luke suggested some indicators of ideal clients for SDT advice, such as age pension eligibility, disability support pension receipt, and care allowance receipt.

Useful link:

* Planning for the future: People with disability

* Special Disability Trust: Getting things sorted 

 

If you have any questions or need guidance, don’t hesitate to reach out to our team at 1300 731 372 or book an appointment  Or send us an email to [email protected]