The trustee of a unit trust scheme can apply to register the scheme as an imminent wholesale unit trust scheme, to gain start up concessionary treatment under the landholder provisions of the Duties Act 2000 (the Act).

1

Determine your eligibility

The Commissioner has issued general guidelines relating to trust registrations. Regard should be had to this ruling and the criteria set out in s89T of the Act before seeking registration as an imminent wholesale unit trust scheme.

In order for a unit trust scheme to be registered as an imminent wholesale unit trust scheme, we must be satisfied that:

  • The unit trust scheme will meet the criteria for registration as a wholesale unit trust scheme within 12 months after the day on which the first units in the scheme were issued to a qualified investor,
  • Units issued in the scheme, before the scheme meets the criteria for registration as a wholesale unit trust scheme, have been and will be issued only for the purpose of the scheme meeting those criteria, and
  • Registration is not being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty otherwise chargeable under Part 2 of Chapter 3 of the Act
2

Complete your application form

If the scheme is eligible to be registered as an imminent wholesale unit trust scheme, the relevant parts of this Application Form 59 must be completed by the trustee of the unit trust scheme seeking the registration:

  • On screen, printed and signed, or
  • Downloaded as a PDF, printed, completed and signed

Either way, the form must be signed by or on behalf of the trustee of the scheme prior to lodgement. If you need assistance, please contact the Landholder Acquisitions Branch on 03 9628 0123.

3

Gather your supporting documents

You need to send the following supporting documents with your application form:

  • A copy of the trust deed for the unit trust scheme, including all schedules and amending deeds,
  • All documentation evidencing the scheme’s intention to become a wholesale unit trust scheme within 12 months of the first issues of units to a qualified investor (i.e. prospectus, product disclosure statement or information memorandum),
  • A copy of the unit trust scheme’s statement of financial performance (profit and loss statement) and statement of financial position (balance sheet) for the last three financial years,
  • A copy of the unit trust scheme’s register of unit holders as at the application date, and
  • If registration is being sought from a date prior to the date of application, a copy of the scheme’s register of unit holders as at that earlier date and full and precise details of all acquisitions of units in the scheme from that date
4

Lodge your application

The application form and supporting documents should be marked to the attention of The Manager, Landholder Acquisitions Branch and can be lodged by either by mail or email to:

Email

landholder@sro.vic.gov.au

Mail

State Revenue Office
GPO Box 1641
MELBOURNE
VIC 3001

or

State Revenue Office
DX 260090
MELBOURNE

Next steps

We will send a written acknowledgement when we receive your application form and supporting documents. We will notify you if we require further information.