Duties: land-owning unit trusts
Source: Taxation In Australia Journal Article
Published Date: 1 Dec 2022
The stamp duty implications of acquiring ownership interests in a unit trust which owns land is a complex subject. Different rules in each Australian state and territory can lead to varying and, at times, materially adverse outcomes, especially for the unwary. This article explores the various widely held and wholesale unit trust stamp duty concessions that are available to land-owning unit trusts in each relevant state and territory, with a particular focus on the rules in Victoria and Queensland where the basic thresholds for dutiable relevant acquisitions are lower than the 50% threshold in other jurisdictions. The benefits of obtaining these concessions, the criteria that must be satisfied to qualify for these concessions, and some common issues in practice are explained. This article also includes summary tables for ease of identifying key criteria and issues in each relevant state and territory.
Sorry, this is subscriber only content.
To gain access to this material and much more - Subscribe Now.
(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).
Already a Subscriber? Login now
Details
- Published By: Craig Milner CTA, Tom Tian ATI
- Published On:1 Dec 2022
The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.
The Tax Institute
(ABN 45 008 392 372 (PRV14016))
("TTI")
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
Copyright Statement
All materials provided on this site are protected by copyright and are owned by or licensed to TTI.
Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.
Tags
Share this page