Queensland Consolidated Acts Queensland Consolidated Acts(1) A trust of dutiable property is created if a person, who has acquired property other than as trustee, starts to hold the property as trustee.
(2) Also, a trust of dutiable property is created if all the following apply--
(a) a person holds dutiable property on trust (trust 1);
(b) the person is also trustee of another trust (trust 2);
(c) the person ceases to hold the dutiable property as trustee of trust 1 and starts to hold the dutiable property as trustee for trust 2;
(d) when the person starts to hold the dutiable property as trustee for trust 2--
(i) a person who has a trust interest for the dutiable property under trust 2 did not have a trust interest for that property when it was held for trust 1; or
(ii) a person who has a trust interest for the dutiable property under trust 2 had a trust interest for that property when it was held for trust 1 and that person's trust interest increases.
Note--
Section 498 includes provision about references to dutiable property.