Queensland Consolidated Acts Queensland Consolidated Acts(1) A person acquires a trust interest if--
(a) the person becomes a beneficiary of a trust, whether on creation of the trust or otherwise; or
(b) being a beneficiary of a trust, the person's trust interest increases, other than because of the surrender of another person's trust interest in the trust for which transfer duty has been paid.
(2) If a beneficiary's trust interest is subject to a prior life interest, the interest does not increase merely because the life tenant dies or, over time, the extent of the life interest reduces.