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Stamp duty issues affecting private trusts paper

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Published on 26 Jul 12 by NATIONAL DIVISION, THE TAX INSTITUTE

All state and territory jurisdictions seek to levy transfer duty on changes in beneficial interests in dutiable property, particularly changes in participation as beneficiaries of private trusts. This paper considers how the relevant provisions and case law affect the following issues involving trusts:

  • Taxation by tracing to underlying property
  • When are non-land assets taxed?
  • The different types of trusts: unit trusts, discretionary trusts, hybrid trusts, bare trusts
  • What transactions are dutiable:
    • creation of trusts
    • allotments/redemptions
    • variations of rights
    • settlements and resettlements
  • What transactions are not dutiable:
    • settlements and resettlements
    • "unintentional" creation of a trust
    • "restatement" of an existing trust
    • no change in ownership of property.

Author profile

Dr Campbell Rankine
Campbell is a Chartered Accountant and Barrister and Solicitor who specialises in complex taxation and trust issues. The taxation issues extend to income tax (including CGT, and the Australian attribution on foreign income), as well as stamp duties and other indirect taxes. He is a regular presenter to specialist taxation groups in South Australia and nationally. - Current at 21 June 2012
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This was presented at 12th Annual States' Taxation Conference .

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Stamp duty issues affecting private trusts

Author(s):  Campbell RANKINE

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