126.96.36.199 Overpayments Relating to Controlled Private Trusts & Controlled Private Companies
Date of effect
This topic has effect to controlled private trusts and controlled private companies from 1 January 2002.
This topic contains the following information:
- policy provisions for overpayments relating to private trusts and private companies on or after 1 January 2002.
The requirement that income support recipients adhere to their responsibilities to notify Centrelink in the event of substantial changes to their circumstances will not change for recipients with involvement in controlled private trusts and private companies.
All income support recipients, including those with involvement in a private trust or private company, will be expected to inform Centrelink in the event of changes in their circumstances, (i.e. a 'notifiable event') in the same way as recipients who are sole traders or involved in a partnership.
Income support recipients who fail to notify of a change in circumstances or who withhold information from Centrelink may need to be investigated to see whether an overpayment should be raised against them.