Duties Act 2001

This section applies for imposing transfer duty on majority trust acquisitions.

An indirect trust interest in a land holding trust being acquired by a person is taken to be a trust interest in the trust.

Also, an indirect trust interest in a land holding trust already held by an acquirer or related person of the acquirer is taken to be a trust interest in the trust.

For an indirect trust interest in a land holding trust taken to be a trust interest under subsection (2) or (3), the acquirer and any related persons of the acquirer are taken to be beneficiaries.

An indirect trust acquisition is taken to be a trust acquisition in the land holding trust in which the indirect trust interest is acquired.