Section 54AB(1)(a) of the Stamp Act 1894 (Qld) is directed at transactions resulting in a person obtaining an additional estate or interest in land, not transactions which result in that person's existing interest being reduced. Where an absolute owner impresses a trust upon its own property, thereby reducing its interest from full ownership to an equitable interest as majority unitholder, it does not 'obtain' an estate or interest within the meaning of the section. Under s 54AB(1A)(a), the trustee must own the relevant property in its capacity as trustee before the acquisition of units in the trust; the deeming provision does not apply where units are issued before the trustee acquires the property.
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