Queensland Consolidated Acts

LAND TAX ACT 2010 - SECT 43

43 Provision for particular family trusts

(1) Land that is trust property of a trust (
"trust 1" ) is not exempt land under this division if—

(a) either—

(i) land that is trust property of another trust (
"trust 2" ) is exempt land under this division; or

(ii) a home unit that is trust property of another trust (also
"trust 2" ) is taken into account under section 27 ; and

(b) a beneficiary of trust 1 is a prescribed relative of a beneficiary of trust 2.

(2) However, subsection (1) does not apply, and the land is exempt land, if the commissioner is satisfied trust 1 and trust 2 were not established by or on the instructions of the same person.

(3) In this section—

"home unit" see section 26 .

"owner" , of a home unit, see section 25 .