Commissioner for State Revenue v Victoria Gardens Developments Pty Ltd

[2000] VSCA 233

Victorian Court of Appeal

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For Australian Law.

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Interrogate

Catchwords

1. Stamp Duty
2. › Transfers of land
3. › Exemptions from duty
4. › Transfer to trustee to be held solely as trustee for transferor
5. › Whether land transferred for joint venture development held solely as trustee for transferor
6. › Whether change in beneficial ownership
7. › Stamps Act 1958 (Vic), Third Schedule, Heading VI, sub-heading (B), exemption (18)
1. Stamp Duty
2. › Transfers of land
3. › Exemptions from duty
4. › Instrument made solely in consequence of appointment of trustee
5. › Whether appointment of trustee to new trust within exemption
6. › Whether transfers made solely in consequence of appointment
7. › Stamps Act 1958 (Vic), Third Schedule, Heading VI, sub-heading (B), exemption (23)
1. Stamp Duty
2. › Transfers of land
3. › Value for duty
4. › Whether conveyance on sale
5. › Transfer to trustee under joint venture agreement
6. › Whether transferee took beneficially
7. › Stamps Act 1958 (Vic), Third Schedule, Heading VI, introductory portion

Quick Take

Transfers of land to a trustee for the purposes of a joint venture development and sale do not qualify for exemption (18) under the Stamps Act 1958 (Vic), because the trust is not one to hold the property for the transferor but to develop and sell it, and because the joint venture arrangements result in all transferors having a collective interest in all the land. Such transfers are not conveyances on sale where the transferee takes as trustee rather than beneficially.