MGS NSW Land Tax Unit Trust

[MattR]

Has anyone used one of these Deeds. I've left a call with MGS to ask if there is any problem with a Unit holder being a Discretionary Trust but an answer has not been forthcoming.

Just worried that a transfer from an individual to say their family trust may somehow affect the land tax threshold exemption.

 

[coastymike]

Has anyone used one of these Deeds. I've left a call with MGS to ask if there is any problem with a Unit holder being a Discretionary Trust but an answer has not been forthcoming.

Just worried that a transfer from an individual to say their family trust may somehow affect the land tax threshold exemption.

Matt

We have used the deeds. The land tax flows down ultimately to the unitholder so if the unit holder is a discretionary trust then the discretionary trust will be assessed and will not receive the exemption.

If the unitholder is an individual or super fund then they will receive the exemption.

 

[MattR]

Matt

so if the unit holder is a discretionary trust then the discretionary trust will be assessed and will not receive the exemption.

Bu99er