Land Tax Act 2004

In this part, a trust is a foreign trust if—

for a trust with fixed beneficial interests—taking their interests together, a beneficial interest of 50% or more of the capital of the trust estate is held by—

1 or more foreign people; or

an associated person of the foreign person; or

for a discretionary trust—a foreign person is named in the trust deed who, under the terms of the trust, takes the capital of the trust estate if—

there is an exercise of a power or discretion in favour of the person; or

a power or discretion is not exercised.

In this section: