Definitions
Associated person
A person who is associated with another person in accordance with any of the following provisions:
persons are associated persons if they are related persons
natural persons are associated persons if they are partners in a partnership to which the Partnership Act 1892 applies
private companies are associated persons if common shareholders have a majority interest in each private company
trustees are associated persons if any person is a beneficiary common to the trusts (not including a public unit trust scheme) of which they are trustees
a private company and a trustee are associated persons if a related body corporate of the company (within the meaning of the Corporations Act 2001 of the Commonwealth) is a beneficiary of the trust (not including a public unit trust scheme) of which the trustee is a trustee.
Related person
Related person means a person who is related to another person in accordance with any of the following provisions:
a) natural persons are related if"
one is the spouse or de facto partner of the other, or
the relationship between them is that of parent and child, brothers, sisters, or brother and sister,
b) private companies are related persons if they are related bodies corporate within the meaning of the Corporations Law,
c) a natural person and a private company are related persons if the natural person is a majority shareholder or director of the company or of another private company that is a related body corporate of the company within the meaning of the Corporations Law,
d) a natural person and a trustee are related persons if the natural person is a beneficiary of the trust (not being a public unit trust scheme) of which the trustee is a trustee,
e) a private company and a trustee are related persons if the company, or a majority shareholder or director of the company, is a beneficiary of the trust (not being a public unit trust scheme) of which the trustee is a trustee.
Refer Revenue Ruling DUT010 for transfers pursuant to an agreement for sale or transfer of dutiable property.
