This may sound like a stupid question, but say for example 3 people were to hold real estate in their names personally in equal ownership, would the land tax threshold be $406k per person? Meaning if the land was worth $300k, then $100k would be apportioned to each of the 3 people's threshold?
What about if the property were owned in the 3 personal names as trustee for a "Fixed" Unit Trust, would the $406k threshold be applied to the trust, or would it be applied to the trustee, in this case the 3 personal names & be divided equally by 3?
What about if the trustee for a "Fixed" Unit Trust is a company?
If it's the trust that gets the threshold, could you just setup multiple "fixed" trusts to get a threshold for each trust?
What about if the property were owned in the 3 personal names as trustee for a "Fixed" Unit Trust, would the $406k threshold be applied to the trust, or would it be applied to the trustee, in this case the 3 personal names & be divided equally by 3?
What about if the trustee for a "Fixed" Unit Trust is a company?
If it's the trust that gets the threshold, could you just setup multiple "fixed" trusts to get a threshold for each trust?