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DUTIES ACT 2001 - SECT 55 What is a trust acquisition

DUTIES ACT 2001 - SECT 55

What is a trust acquisition

55 What is a trust acquisition

A person makes a
"trust acquisition" if the person acquires a trust interest in a trust that—

(a) holds dutiable property; or
(b) has an indirect interest in dutiable property.
Note—
Under section 81 , an indirect trust acquisition in a land holding trust is taken to be a trust acquisition. An indirect trust acquisition is the acquisition of an interest in a land holding trust through 1 or more corporations, partnerships or trusts, or a combination of any of them. See definitions
"indirect trust acquisition" and
"indirect trust interest" in the dictionary.