Victorian Consolidated Legislation

Land Tax Act 2005 - SECT 46A

General land tax surcharge for trusts

46A. General land tax surcharge for trusts



(1) A person who is the owner of land as trustee of a trust is liable for land
tax on the land at the applicable rate set out in Part 3 of Schedule 1.

(2) The trustee is to be assessed for land tax on the whole of the land
subject to the trust as if the land were the only land owned by the trustee.

(3) This section does not apply to-

   (a)  land subject to a unit trust scheme if an appointment of a nominated
        PPR beneficiary for the scheme is in force and the land is used and
        occupied as the principal place of residence of the nominated PPR
        beneficiary; or

   (b)  land subject to a discretionary trust if-

   (i)  an appointment of a nominated beneficiary for the trust is in force;
        or

   (ii) an appointment of a nominated PPR beneficiary for the trust is in
        force and the land is used and occupied as the principal place of
        residence of the nominated PPR beneficiary; or

   (c)  land subject to an excluded trust; or





   (d)  land subject to an administration trust.





(4) This section is subject to sections 46B and 46C.

(5) A trustee of child maintenance land who would be liable to land tax in
accordance with subsection (1) but for this subsection is liable for land tax
at the applicable rate set out in Part 1 of Schedule 1, and is to be assessed
for that tax as if the child maintenance land were the only land owned by the
trustee.