Special Disability Trust (SDT) – 2024-25 Key Figures and Compliance Guide

by | Oct 6, 2025 | Special Disability Trust | 0 comments

Key Thresholds and Limits (Effective 1 July 2024)

Category 2024–25 Figure Description
Assets Test Limit $781,250 Amount exempt from Centrelink/DVA assets test for the principal beneficiary. Indexed annually on 1 July.
Annual Discretionary Spending Limit $14,000 Maximum amount that can be used each financial year for discretionary (non-care/non-accommodation) expenses such as clothing, recreation, and utilities. Indexed annually.
Gifting Concession (Combined for Eligible Immediate Family) $500,000 Lifetime limit for eligible immediate family members contributing to the trust without affecting their own Centrelink/DVA entitlements.

Compliance and Lodgement Requirements (FY 2024–25)

Obligation Requirement / Deadline
Financial Year Covered 1 July 2024 – 30 June 2025
Financial Statements Due By 31 March 2026
Who Can Prepare the Statements Must be prepared by a qualified accountant — a member of CPA Australia, CA ANZ, or IPA — who is not an immediate family member of the beneficiary or trustee.
Documents Required Financial statements (prepared to Australian Accounting Standards) and a Statutory Declaration from all trustees confirming accuracy and compliance with SDT rules.
Record Keeping Maintain all invoices, bank statements, receipts, investment records, and evidence of allowable expenditure.
Audit Requests DSS/DVA may request an audit (covering up to the past 5 years). The audit must be performed by an approved independent professional.

Trustee Checklist (Annual Tasks)

  1. Maintain full transaction records for the year ending 30 June 2025.
  2. Engage a qualified preparer early (before December 2025).
  3. Ensure total discretionary spending does not exceed $14,000.
  4. Review investments and distributions for compliance with SDT purposes (care, accommodation, and ancillary needs).
  5. Complete the Statutory Declaration confirming compliance.
  6. Lodge financial statements and declaration by 31 March 2026 to Services Australia or DVA.

Common Pitfalls to Avoid

  • Missing the 31 March 2026 lodgement deadline.
  • Using an unqualified or related person to prepare statements.
  • Spending above the discretionary limit or on non-permitted items.
  • Failing to retain proper supporting documents.

Make Compliance Simple

Managing a Special Disability Trust can be complex — but it doesn’t have to be.
Contact us today and we’ll help you:

  • Prepare your trust’s annual financial statements correctly
  • Meet all reporting and audit requirements on time
  • Keep your trust fully compliant with Centrelink and DVA rules

Make time to talk to us.Click Here

📞 Phone: 1300 133 135
📧 Email: sol.forman@formanfinanialserivces.com.au
🌐 Website: https://www.sdtservices.com.au/services/special-disability-trust-compliance-services/

Disclaimer and Warning

The information above is of a general nature only. It should not be used as a source to make financial decisions. It’s also important to note that the legislation and figures related to this topic tend to change regularly and therefore the information above may