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Wardle Partners

People with a Disability

There are special rules and various financial benefits to be considered when planning the financial outcomes for persons with a disability.

Company Director Graham McIntyre knows first hand the special needs associated with disabled persons, having been involved in planning the financial well being of his Niece with cerebral palsy.

Compass Financial Solutions specialise in assisting disabled persons and their family plan the best financial outcomes taking into account Centrelink, superannuation, taxation, estate planning and where possible, special disability trusts.


Centrelink provide a wide range of benefits to assist those with a disability:
  • Disability Employment Services
  • Child Disability Assistance Payment
  • Continence Aids Payment Scheme
  • Disability Support Pension
  • Mobility Allowance
  • Rent Assistance
  • Sickness Allowance
  • Telephone Allowance
  • Youth Disability Supplement
  • Education Supplement
For further details visit here.

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Disability Superannuation Benefits

Planning the structure and form of disability superannuation benefits can result in significant tax savings.

A disability superannuation benefit is a benefit that is paid to a person because:
  • He or she suffers from ill-health (whether physical or mental), and
  • Two legally qualified medical practitioners have certified that, because of the ill-health, it is unlikely that the person can ever be gainfully employed in a capacity for which he or she is reasonably qualified because of education, experience or training.
A disability superannuation benefit may be paid as either an income stream benefit or a lump sum benefit.

A disability benefit payment may consist of:
  • A tax-free component; and,
  • A taxable component which includes an element;
    • Taxed in the fund; and/or
    • Untaxed in the fund.
Funds will need to calculate these components for each benefit that is paid. The proportioning rule is generally used to calculate the tax-free and taxable components of a benefit.

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Together with Wardle Partners accountants, Compass Financial Solutions ensure the best tax planning outcomes are achieved.

Wardle Partners located in the same office can take care of your taxation planning and lodgement requirements, whether it be your personal return, self managed superannuation supporting a disability pension, or special disability trust.

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Estate Planning

It is important for everyone to ensure that their estate plan (Will) has been considered and carefully prepared. A person with beneficiaries to their Will, that include disabled persons, should seek specialist estate planning advice to ensure their Will is tailored around the various possible asset protection, and taxation outcomes available to those with a disability receiving an inheritance.

A special disability trust can be established via a will - see below.

If your lawyer does not specialise in estate planning, we are able to make an appropriate recommendation.

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Special Disability Trust

Since 20 September 2006, families have been able to establish a Special Disability Trust, which attracts social security means test concessions for the beneficiary and eligible contributors. The purpose of the trust is to assist immediate family members and carers who have the financial means to do so, to make private financial provision for the current and future care and accommodation needs of a family member with severe disability and receive means test concessions.

It is necessary that, before a Special Disability Trust is established, the prospective trust beneficiary be assessed as severely disabled under the legislation for this type of trust.

Concessions available include:
  • Allow capital gains tax exemption for any asset donated to a Special Disability Trust;
  • Allow capital gains tax main residence exemption for Special Disability Trusts;
  • Allow capital gains tax exemption for the recipient of the beneficiary's main residence, if disposed of within two years of the beneficiary's death;
  • Ensure that equivalent taxation treatment amongst Special Disability Trusts established under different Acts;
  • Unexpended income of a Special Disability Trust is taxed at the beneficiary's personal income tax rates, rather than the highest marginal tax rate;
  • A beneficiary of a Special Disability Trust can work up to seven hours a week at or above the relevant minimum wage;
  • The Trust can pay for the beneficiary's medical expenses, including private health fund membership, and the maintenance expenses of the Trust's property; and,
  • The Trust can spend up to $10,000 in a financial year on discretionary items not related to the care and accommodation needs of the beneficiary of the trust, ie for items relating to a beneficiary's health, well being, recreation, independence and social inclusion.
Means test concessions:
  • A Special Disability Trust can have assets worth up to $596,500 (indexed annually and current as at 1 July 2012) without these assets impacting on the trust beneficiary's income support payment (such as Disability Support Pension).
  • Where immediate family members contributing to the trust are in receipt of a social security or veterans' entitlement payment and are within five years of Age Pension age or older, they may be eligible to receive a concession from the usual social security or veterans' entitlement rules relating to making gifts (disposal of assets).
  • For the purposes of this concession, 'immediate family members' include natural parents, legal guardians, adoptive parents, step parents, grandparents and siblings.

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Compass Financial Solutions ABN 51 109 740 409 is a Corporate Authorised Representative 278272 (CAR) of Professional Investment Services Pty Ltd,
ABN 11 074 608 558 | AFS Licence Number 234951 and provides financial planning services through its Sub Authorised Representatives.

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