Duties Act 2001

The conditions applying to a dutiable transaction mentioned in section 97(1)(a) are as follows—

the transferor or person directing the transfer is—

if the business property is used to carry on a business of primary production—a defined relative of the transferee; or

otherwise—an ancestor of the transferee;

the transferee does not acquire the business property as—

trustee, other than as trustee of a trust for the beneficiaries mentioned in subsection (2); or

agent or nominee of another person;

the business for which the business property is used is carried on by the defined relative or ancestor, whether alone or with others;

the business is intended to be carried on by the transferee, whether alone or with others.

For subsection (1)(b)(i)—

the beneficiary of the trust is a minor, and—

if the business property is used to carry on a business of primary production—the minor is a defined relative of the person creating the trust; or

otherwise—the minor is a descendant of the person creating the trust; and

there are no other beneficiaries of the trust, other than a person who would become a beneficiary of the trust on the death of the beneficiary mentioned in paragraph (a).