A corporate trustee that is the registered proprietor of land remains the 'owner' for land tax purposes under s3(1) of the Land Tax Management Act 1956 (NSW), whether the trust is bare or active. The recognition of a trust does not detract from the estate in possession enjoyed by the trustee at common law. A resolution purporting to appoint as the Vesting Day the very date on which the resolution is passed is self-defeating and ineffective where the trust deed contemplates the appointment operating prospectively.
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