Land held on trust that is used and occupied by a beneficiary as their principal place of residence (PPR) may alter the land tax liability for that land depending on the type of trust and whether you choose to notify us.
As a trustee of a trust, you may choose to notify us of a nomination of a:
- PPR beneficiary of a discretionary trust or unit trust scheme, or
- Subsequent PPR beneficiary of a discretionary trust or unit trust scheme
Although you can make your nomination at any time, it will only take affect from the tax year that you lodge it with us. If, for that tax year, you have already paid land tax on the affected land, you may be eligible for a refund.
- You can only nominate one PPR beneficiary per trust,
- The nomination of a PPR beneficiary will provide a concession (not an exemption) on the amount of tax payable by the trustee on the PPR land,
- The nominated PPR beneficiary must use the land as their PPR and if they move out you are required to notify this office as the concession will no longer apply
Gather required information
You need the following information to complete the Nomination of PPR subsequent PPR beneficiary and notification or change of beneficial interests, but refer to the form for specific instructions:
- Details of the trust, including Australian Company Number (ACN)/Australian Business Number (ABN) number,
- The purpose of the nomination,
- Details of the PPR beneficiary and the relevant land,
- The date the beneficiary commenced occupation of the PPR property, and
- Any business activity conducted at the property
Complete your nomination form
The nomination can be completed and submitted online
Lodge your nomination
When you have completed all relevant and mandatory information, please select 'submit' to lodge your nomination.
We will contact you in writing to advise you of the outcome of your nomination.
If the nominated PPR beneficiary dies, or ceases to use and occupy the land as their PPR, you must notify us in writing within one month of the event occurring. Penalties can apply if you don't.
If another beneficiary then uses the land as their PPR, you can notify us of a subsequent PPR beneficiary by making another nomination.