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Duties: land-owning unit trusts

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Published on 01 Dec 22 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The stamp duty implications of acquiring ownership interests in a unit trust which owns land is a complex subject. Different rules in each Australian state and territory can lead to varying and, at times, materially adverse outcomes, especially for the unwary. This article explores the various widely held and wholesale unit trust stamp duty concessions that are available to land-owning unit trusts in each relevant state and territory, with a particular focus on the rules in Victoria and Queensland where the basic thresholds for dutiable relevant acquisitions are lower than the 50% threshold in other jurisdictions. The benefits of obtaining these concessions, the criteria that must be satisfied to qualify for these concessions, and some common issues in practice are explained. This article also includes summary tables for ease of identifying key criteria and issues in each relevant state and territory.

Author profiles

Craig Milner CTA
Photo of author, Craig MILNER Craig is a Partner in the Allens Tax group, with more than 20 years of experience in providing tax advice. He is a lead taxation lawyer in transactions and projects for clients including in the funds, real estate, finance and energy sectors. He advises on mergers and acquisitions, group restructures, inbound and outbound investment and exit tax issues, fund creation and managed funds structures, property development structures, workouts and insolvency transactions, securitisation programmes and associated note issues, financing arrangements and general corporate tax issues. - Current at 15 August 2022
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Tom Tian ATI
Tom is a Senior Associate in the Allens Tax group with over 10 years of experience advising on a wide range of direct and indirect tax matters. He has advised clients in a wide range of industries, primarily in the real estate, funds, finance and resources sectors. - Current at 15 August 2022
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