Published on 19 Aug 04
by VICTORIAN DIVISION, THE TAX INSTITUTE
This paper covers the following topics:
- changes to land rich test provisions:
-- land proportion test for companies and trusts
-- acquisition test for a private company and a wholesale unit trust
-- acquisition test for private unit trust
-- indirect ownership of property test through subsidiaries
- what still qualifies for a land rich duty exemption
- joint & several liability for land rich duty
- the new anti-avoidance provision
- new provisions regarding the capacity to 'control' over a land-rich landholder entity
- registration provisions.
Zoe Chung FTIA is a Director in the Specialist Transaction Taxes
group at PricewaterhouseCoopers. Her main areas of practice includes
stamp duty issues relating to wholesale property trusts, land rich
and funds management and income tax issues relating to trusts, and
revenue litigation, with a special focus on all imposts in relation to real
property transactions. Current at 9 October 2008
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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