(3A) The commissioner must make a
reassessment as if the contracted property or indirect interest were never
held by the trust.
(4) For the reassessment, the parties liable to pay
transfer duty on the trust creation, trust termination, trust acquisition or
trust surrender must lodge the instruments required for the original
assessment.
(5) In this section—
"purchase agreement" includes an uncompleted agreement, whether or not
conditional, for the acquisition of a trust interest through which the trust
would have, if the agreement were completed, an indirect interest in
dutiable property (the
"trust-related dutiable property" ).
"sale agreement" includes an uncompleted agreement, whether or not
conditional, for the disposal of a trust interest through which the trust has
an indirect interest in dutiable property (also the
"trust-related dutiable property" ).