Duties Act 1999

This section applies if, under a scheme between an individual and a financial institution—

a person transfers land in the ACT to the individual (the first transfer); and

at the time of the first transfer—

the individual declares a trust in favour of the financial institution in relation to the individual’s beneficial interest in the land; and

the financial institution leases the beneficial interest to the individual for a fixed period; and

at the end of the fixed period or another period agreed by the individual and the financial institution, the beneficial interest is transferred to the individual (the second transfer).

Duty under this chapter is not payable in relation to—

the declaration of trust; or

the second transfer.