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Assessing Unit Trusts as 'Special Trusts' - CPT Custodians & NSW Land Tax

Published on 21 Sep 2006 | Took place at The Illawarra Catholic Club, Hurstville, and The Chatswood Club, Chatswood, NSW

This seminar series was held on:
- 19 September 2006 at The Illawarra Catholic Club, Hurstville
- 21 September 2006 at The Chatswood Club, Chatswood.

After the High Court’s recent decision in CPT Custodians, the NSW Office of State Revenue has decided to assess unit trusts that hold land in NSW as ‘special trusts’ for land tax purposes. As a result, unit trusts have been subject to a higher rate of NSW land tax in the 2006 year, on the basis that they have not been eligible for the land tax-free threshold. This seminar considered the application of the High Court’s decision in CPT Custodians in the context of the NSW land tax provisions. The OSR’s practice, the impact of the recent NSW Budget announcements and possible solutions were also addressed.

Individual sessions

Assessing unit trusts as 'special trusts' - CPT Custodians & NSW Land Tax

Author(s):  Denis BARLIN

Topics covered in this seminar presentation include:

  • overview of the NSW land tax provisions
  • the application of CPT Custodians in the NSW land tax context
  • the widened definition of 'owner' for NSW land tax purposes and its implcations; and
  • reviewing and objecting to land tax assessments, and possible strategies for taxpayers caught by the new practice
This was also presented at the 'Assessing Unit Trusts and 'Special Trusts' - CPT Custodians & NSW Land Tax' seminar held in Hurstville on 19 September 2006 and in Chatswood on 21 September 2006.
Materials from this session: