Centrelink have assessed the gift, including deeming, apparently. I’m unsure about the control test side of things though.

She hasn’t gifted all her money away, she just doesn’t own property anymore. We did get advice, although seemingly it wasn’t great advice after getting more information from you in this thread. We’ll find a new solicitor I…[Read more]

Centrelink have assessed the gift, including deeming, apparently. I’m unsure about the control test side of things though.

She hasn’t gifted all her money away, she just doesn’t own property anymore. We did get advice, although seemingly not great after getting more information from you in this thread. We’ll find a new solicitor I think, and work…[Read more]

Sorry, forgot to answer your last question. Mum doesn’t want to own property in her own name now as she ages, as she has been scammed and lost money, and also had a new “partner” take advantage of her after her husband died.

Yes, Mum contributed to the first trust. She gifted money to the trust, which she declared to Centrelink and it has been assessed in her pension. This first trust just holds cash. The second trust was established to buy the property.

By the sound of it, as you suggested at the beginning, it would be best to have her pay market rate rent, then…[Read more]

I am appointor/director/beneficiary of the trust that made the gift. My solicitor told me that we could do it this way, or make it a loan from one trust to the other. The money was gifted expressly to purchase the property. Neither my solicitor or accountant mentioned anything about perpetuities! The vesting date of the second trust is more than…[Read more]

Hi Terry,

Thanks for your reply.

The trust deed refers to many eligible beneficiaries, including “the parents of a named beneficiary”. The deed doesn’t refer to the property specifically, or anyone living in a trust asset. I imagine though, based on the above, that Mum living in the property would be seen as her receiving a benefit, is that…[Read more]