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Stamp Duty: Trusts and Real Property

Published on 01 Mar 2007 | Took place at Holiday Inn Adelaide , SA

There are stamp duty issues with any transactions involving the conveyance or transfer of property. In the context of any dealing in real property or any transaction to which a trust is a party, it is likely that an instrument will be brought into existence which may give rise to a duty liability.

This session focused on practical issues to assist all practitioners whose clients are regularly involved in commercial and/or family trust dealings. It not only focussed on common real property and trust issues but also included detailed comment on the various concessions available under the legislation.

The session was highly relevant and instructive in relation to a broad range of frequently encountered scenarios.

Get a 20% discount when you buy all the items from this event.

Individual sessions

Stamp duty and real property

Author(s):  Fabrizio PORCARO

Dealings in real property invariably result in legal documentation being brought into existence between the parties. This documentation extends far beyond formal LTO transfers but nevertheless is likely to raise stamp duty issues. Awareness of the stamp duty rules in advance is a must for advisors in the planning of these transactions and associated documentation. Every day transactions can have undesired and unexpected stamp duty ramifications. This paper provides information about the concessions which are available and what planning should be undertaken before a transaction proceeds. Topics covered include:

  • transactions relating to real property which typically give rise to dutiable instruments
  • concessions for transactions between spouses and for primary production land
  • real property transfers in connection with a business/business assets
  • declarations of trust and nominee contracts
  • “off the plan” acquisitions
  • issues with real property partitions and aggregation of connected transactions.
Materials from this session:

Stamp duty and trusts

Author(s):  Paul TANTI

This presentation focusses on common transactions involving real property and trusts. A case study approach is adopted and concentrates on discretionary trusts and unit trusts as well as the concessions which frequently apply to trusts. Confusion often arises where related parties seek to contribute to or to access value from a trust. There can also be tensions with income tax issues and effective advice requires attention to all issues. The presentation addresses the following matters specifically:

  • capitalising and redeeming interests in unit trusts
  • how to introduce and remove beneficiaries
  • deed amendments and trust resettlements
  • current status of trust cloning and splitting
  • practical issues with accessing concessions for distributions from family trusts
  • concession for change of trustee
  • jurisdictional issues (eg. when is your trust not subject to duty in SA).
Materials from this session: