Section 52ZZZD — Veterans' Entitlements Act 1986: Individual disposes of income to company or trust before 1 January 2002—individual is attributable stakeholder

(1) If: (a) an individual has transferred property to a company or trust before 1 January 2002; and (b) the transfer amounts to a disposal by the individual of ordinary income of the individual; and (c) apart from this section, under Division 7, as a result of the disposition referred to in paragraph (b), a particular amount is included in the individual’s ordinary income; and (d) the individual is an attributable stakeholder of the company or trust on 1 January 2002; the Commission may, by writing, determine that: (e) in a case where the individual’s income attribution percentage is 100%—Division 7 has effect on or after 1 January 2002, in relation to the disposal of the income referred to in paragraph (b), as if the amount of the disposition were nil; or (f) in a case where the individual’s income attribution percentage is less than 100%—Division 7 has effect on and after 1 January 2002, in relation to the disposal of the income referred to in paragraph (b), as if the amount of the disposition were reduced by: (i) the individual’s income attribution percentage as at 1 January 2002; or (ii) if a higher percentage is specified in the determination—that higher percentage. (2) A determination under subsection (1) has effect accordingly. (3) In making a determination under subsection (1), the Commission must comply with any relevant decision-making principles.