The trustee of a unit trust scheme can apply to register the scheme as a declared public unit trust scheme to gain concessionary treatment under the landholder provisions of the Duties Act 2000.
Generally, the Commissioner will register a unit trust scheme as a declared public unit trust scheme where the scheme does not quite meet the criteria of a public unit trust scheme (a listed trust or widely held trust) but is considered to be public in its nature and purpose.
Determine your eligibility
The Commissioner has issued pubic rulings relating to trust schemes. One provides guidance on issues relating to trust registration applications. Another outlines the factors taken into account when determining whether a scheme should be registered as a declared public unit trust scheme.
Before seeking registration you should review these rulings and the relevant factors, which include:
- whether the scheme was established for a particular investor or group of investors
- whether units in the scheme were issued to the public or an appreciable section of the public
- the degree of ownership and/or control a particular investor or group of investors has over the scheme
- the total number of unit holders in the scheme and whether units are widely held by persons who are not associated with each other
- whether the purpose and nature of the scheme is effectively public, and the reasons it fails to meet the criteria of a listed trust or a widely held trust.
Complete your application form
If the scheme is eligible to be registered as a declared public unit trust scheme, the online Duties Form 60 SmartForm must be completed by the trustee of the scheme.
The form must be signed by or on behalf of the trustee prior to lodgement.
If you need assistance, please contact the Landholder Acquisitions Branch on 03 9628 0123.
Gather supporting documents
You need to send the following supporting documents with your application:
- a copy of the trust deed for the unit trust scheme, including all schedules and amending deeds
- all documentation identifying the nature and purpose of the unit trust scheme and who could and has applied for units in the scheme (i.e. prospectus, product disclosure statement or information memorandum)
- a copy of the unit trust scheme’s profit and loss statement and balance sheet for the last three financial years
- a copy of the unit trust scheme’s register of unit holders at the application date
- 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.
Lodge your application
The SmartForm should be completed and lodged with the Landholder Acquisitions Branch together with any supporting documentation via email or mail marked to the attention of the Manager, Landholder Acquisitions Branch.
State Revenue Office
GPO Box 1641
Melbourne VIC 3001
We will acknowledge your application in writing when we receive it and contact you if we need more information.