This form must be lodged with the State Revenue Office when a trustee acquires land in Victoria on trust (section 46K of the Land Tax Act 2005). This notification must be made within one month of the acquisition.
This form has been replaced with an online SmartForm. Old PDF versions of these forms will not be accepted beyond 30 September 2017.
Provisions within the Land Tax Act 2005 allow for some types of trusts to avoid the trust surcharge rate of tax if they notify the State Revenue Office of:
- their exclusion status, or
- the unit holdings of unit holders, or
- the beneficial interest of beneficiaries.
In addition, if the land acquired is used by a beneficiary as his/her principal place of residence (PPR), trustees of some types of trusts may elect to nominate a ‘PPR Beneficiary’. This will impact the way in which the trust is assessed for land tax.
For further information regarding the exclusion status and the notification/nomination options for trusts, please consult the SRO website.