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Stamp duty issues affecting private trusts paper


All state and territory jurisdictions seek to levy transfer duty on changes in beneficial interests in dutiable property, particularly changes in participation as beneficiaries of private trusts. This paper considers how the relevant provisions and case law affect the following issues involving trusts:

  • Taxation by tracing to underlying property
  • When are non-land assets taxed?
  • The different types of trusts: unit trusts, discretionary trusts, hybrid trusts, bare trusts
  • What transactions are dutiable:
    • creation of trusts
    • allotments/redemptions
    • variations of rights
    • settlements and resettlements
  • What transactions are not dutiable:
    • settlements and resettlements
    • "unintentional" creation of a trust
    • "restatement" of an existing trust
    • no change in ownership of property.

Author profile:

Campbell RANKINE
Campbell has practised law for the past 40 years, specialising in revenue law, with an emphasis on taxation of cross-border transactions, stamp duty, superannuation, capital gains taxes and similar advices, often advising other law firms and accountants. Prior to his admission he practised for 14 years as a Chartered Accountant. Campbell is currently undertaking his PhD thesis on taxation of trusts and their beneficiaries. He is a Member of many Taxation Institute Committees.
Current at 16 October 2007 Current at 22 October 2007 Click here to expand/collapse more articles by Campbell RANKINE.


This was presented at 12th Annual States' Taxation Conference .

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Individual sessions

State taxes update

Author(s):  Sue BOSCH

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The state tax cases 'essential toolbox'.

Author(s):  The Hon. Justice Ian GZELL

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Corporate 'recombinations'

Author(s):  Costa KOUTSIS

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