Trustee to notify of a trust acquisition of an interest in land

Background information

If you are a trustee and acquire Victorian land on trust, you must notify us within one month of acquiring the land. This includes if you acquire land on trust and, immediately prior to that acquisition, you held the same land as trustee for a different trust. 

As well as notifying us, you also need to lodge a notice of acquisition with Land Use Victoria.

You can include multiple trusts as parties to one transaction. If more than one transaction is involved, lodge a separate notification for each transaction. 

If you do not lodge within one month, penalties may apply. 

Some trust arrangements do not show the trustee’s name on title, such as bare trusts, custodial arrangements and instalment warrants. In these cases, you must ensure the correct entities are recorded when you lodge your notification: 

the legal entity whose name is on title under 'Add Trustee/Bare Trustee/Custodian' 

the trustee of the trust under 'Trustee 1' 

the name of the trust whose beneficiaries have ultimate beneficial interest in the land under 'Name of trust'. 

Find out more about trusts and land tax. 

If you are a personal representative commencing the administration of a deceased estate, do not follow the steps below. Instead, notify us of the commencement of administration of a deceased estate. 

Step 1: Gather required information

You need the following information to complete the notification (refer to the form for specific instructions):

• details of the transferee (buyer), including:
  • name of trustee
  • name listed on title (if different from the trustee)
  • name of trust, and
  • the current mailing address for the trust
• Australian Business Number (ABN) of the trust
• if there is more than one transferee (buyer), details of each transferee
• what share of the land was acquired (as a percentage)
• details of the transferor (seller)
• details of the land acquired, including volume, folio, lot and plan numbers
• the actual transfer/settlement date.

Step 2: Complete and lodge the notice

Complete and lodge the form online.

When you have completed all relevant and mandatory information, select submit to lodge your notice.

Complete the form (LTX-Trust-08)

Next steps

Depending on the value of your land and the rate of land tax your trust will be assessed under, you may receive a land tax assessment.