Land tax
Deadline for restructuring unit trusts
The Treasurer has authorised 'Act of Grace Payments' on a case-by-case basis for unit trusts that were unable to meet the 31 December 2007 deadline to become fixed trusts.
This relief will only be provided if you change your trust deed to become a fixed trust by 30 June 2008. You must also be able to show that there were reasons beyond your control that prevented you from restructuring to a fixed trust by the original deadline of 31 December 2007.
If you qualify for relief, Acts of Grace payments may be provided for the 2006, 2007 and 2008 land tax years, and for transfer duty arising from restructuring your trust.
Last updated: 2008-05-09
