Astakhov v Commissioner of State Revenue (Review and Regulation) [2018] VCAT 1363
Background
The taxpayer, as trustee of a family trust, transferred the beneficial interest in the residential property to himself. He claimed that the transfer was exempt under s36A of the Duties Act 2000 on the basis that he received it as a beneficiary of the trust. The Commissioner held that the transfer was not exempt on the basis that it had been made for consideration and did not meet the criteria in sub-section (1)(e) of the exemption.
Decision
On 4 September 2018, the tribunal decided in favour of the Commissioner, holding the exemption did not apply as there was consideration for the transfer in the form of waiver, by conduct, of the loans owing by the trust to the beneficiaries. The tribunal alternatively found that given the taxpayer chose not to provide any financial statement or other information relating to the winding up of the trust, the taxpayer had failed to discharge its onus to show that there was no such consideration.
