If you are a trustee and acquire Victorian land on trust, you must notify us within one month of acquiring the land.
To notify us of a trust acquisition of an interest in land, you should lodge a Notice of Trust Acquisition of an Interest of Land (LTX-Trust-08). You should also lodge Notice of Acquisition of an Interest in Land (LTX-Form-01), which is lodged with the Victorian Registrar of Titles.
A Notice of Trust Acquisition of an Interest of Land (LTX-Trust-08) will accommodate multiple trusts being parties to the one transaction. If more than one transaction is involved, multiple forms will be required.
Failure to lodge a notice within the one-month deadline may result in penalties.
If you are a personal representative and you are commencing the administration of a deceased estate, do not lodge LTX-Trust-08. Instead, you should lodge Deceased estate - Commencement or completion of administration (LTX-Trust-18) with us.
If you are lodging a survivorship application with the Victorian Registrar of Titles, you must also submit a Notice of Acquisition of an Interest in Land (LTX-Form-01) for the transfer of land to the survivor with the Registrar.
Gather required information
The following information is needed to complete the Notice of Trust Acquisition of an Interest of Land (LTX-Trust-08), but refer to the form for specific instructions:
- Details of the transferee (buyer), including:
- name of trustee,
- name listed on title (if different from the trustee),
- name of trust, and
- the current mailing address for the trust.
- Australian Business Number (ABN) of the trust,
- If there is more than one transferee (buyer), details of each transferee,
- What share of the land was acquired (as a percentage)
- Details of the transferor (seller),
- Details of the land acquired, including volume, folio, lot and plan numbers, and
- The actual transfer/settlement date
Complete the notice
The notification can be completed and lodged online
Note: bare trustees
Usually, the title to the land is registered under the trustee’s name. However, there may be instances where the trustees name is not on title, such as where there is a bare trust, instalment warrants or custodial arrangements.
In these situations, please ensure that the right entity names are in the correct field in your notification, as follows:
- The legal entity whose name is on the title should be provided under "Name listed on title",
- The trustee of the trust should be provided under "Trustee", and
- The name of the trust whose beneficiaries have ultimate beneficial interest in the land should be provided under "Name of trust"
If you are unsure, please contact us.
Lodge your notice
When you have completed all relevant and mandatory information, select submit to lodge your notice.
Depending on the value of your land and the rate of land tax your trust will be assessed under, you may receive a land tax assessment.