Search results

  1. Terry_w

    Beware! SRO (Victoria) are on a warpath! Just got a land tax bill of 12k!

    You are lucky in that it should qualify as a discretioanry trust for the purposes of the land tax act. You are probably not the nominated beneficiary for land this purposes. This is a separate nomination the trustee must make with you accepting in writing. s46F(3)(a)(iii)
  2. Terry_w

    Beware! SRO (Victoria) are on a warpath! Just got a land tax bill of 12k!

    SRO doesn't have the power to backdate a main residence nomination. Under S. 46F(5)(a)(ii) a nomination takes effect from the tax year it is lodged.
  3. Terry_w

    Beware! SRO (Victoria) are on a warpath! Just got a land tax bill of 12k!

    What did you contract with the conveyancer/lawyer to do? Transfer title probably. The trustee is responsible. The lawyer wouldn't review the trust deed to see if you are a nominated beneficiary unless you requested this - a covneyancer couldn't do this work. Its like getting insurance. The...
  4. Terry_w

    Beware! SRO (Victoria) are on a warpath! Just got a land tax bill of 12k!

    1. The trustee must register with the OSR. OSR would not know the trustee is owner as trustee or in their own right so trusts must register - s46K Land tax act vic 2. Not sure they aer right on their reasons here. Is it a pre 2006 trust? and are you the nominated beneficiary?
Back
Top