Trustee to notify of beneficial interests/unitholdings in land or changes to beneficial interests/unitholdings
A trustee of a trust may choose to notify us of the:
- unit holders, or a change in the unitholder(s) in a unit trust scheme, or
- beneficial interest or a change of the beneficial interest in a fixed trust.
If you choose to notify us of the unitholders or beneficiaries of a unit or fixed trust, the land held under the trust will be assessed at the general rate of land tax.
However, each unitholder or beneficiary may receive an assessment including their beneficial interest in the land with land they hold in their own right. A trust deduction will be provided for their share of the tax paid under the trust.
A notification takes effect for the tax year following the year in which the notification is lodged.
Where a notification has previously been made, the trustee is required to notify us of any changes to the beneficial interest or unitholdings within one month of the change being effected.
You can notify us of the beneficial interest/unitholdings or the relevant changes by lodging a Nomination of PPR/Subsequent PPR Beneficiary and Notification or Change of Beneficial Interests/Unit Holdings in Land (LTX-Trust-19) form.
Before you can lodge LTX-Trust-19, the trustee of the trust must have also lodged a Notice of Trust Acquisition of an Interest in Land (LTX-Trust-08) and a Notice of Acquisition of an Interest in Land (LTX-Form-01) form.
Please refer to our information on trusts and land tax for further details.
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Gather required information
You need the following information to complete Nomination of PPR/Subsequent PPR Beneficiary and Notification or Change of Beneficial Interests/Unit Holdings in Land (LTX-Trust-19), but refer to the form for specific instructions:
- details of the trust, including ACN/ABN number
- the purpose of the notification or change
- details of the beneficiary or unitholder.
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Complete the notification
The notification can be completed and lodged online.
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Lodge your notification
When you have completed all relevant and mandatory information, select submit to lodge your notification.
Next Steps
The details will be updated based on the information provided. We will contact you if any further information is required.
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