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Published on 03 May 07
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
Land is commonly held in both discretionary trusts and unit trusts. There are many federal and state tax issues that are unique to such ownership through both types of trusts. The tax implications can vary greatly depending on the type of trust used and the way in which the property is used. This paper explores important issues of land ownership through these trusts, including:
practical implications on ‘absolute entitlement’ and the implications of the CPT Custodian case
gearing property acquisitions through trusts
land tax issues for trusts
cloning and splitting trusts with property
in specie distributions and vesting of trusts:
stamp duty implications
capital gains tax implications
special types of land in trusts:
Michael Butler FTIA is a Partner at Finlaysons' Tax & Revenue Group. Michael advises both domestic
and foreign clients on federal, international and state tax matters, and has a special interest in property tax
issues. Michael is the author of the book "Australian Federal Company Taxation" and a regular contributor to Taxation
Institute of Australia events. Current at 23 March 2009
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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