DUTIES ACT 2008 - SECT 67
DUTIES ACT 2008 - SECT 67
67 . Share disposition taken to be agreement for transfer of trust property
(1) A disposition of a
share in a corporate trustee is taken to be an agreement for the transfer of
dutiable property and is liable to duty accordingly if it is a transaction, or
part of a transaction, that is a scheme or arrangement, or part of a scheme or
arrangement, that results, or will or may result, in a change in any
beneficial interest, whether vested or contingent, in dutiable property held
directly or indirectly by the corporate trustee of a discretionary trust.
(2) Subsection (1)
does not apply to the disposition of a share by which the personal
representative of a deceased person disposes of a share to a beneficiary in
the administration of the estate of the deceased.
[Section 67 amended: No. 12 of 2019 s. 23.]