Queensland Numbered Acts

LAND TAX ACT 2010 No. 15 - SECT 43

(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.