If there is a transfer or agreement to transfer property to a trustee because a trustee is retiring or a new trustee is appointed, provide:
- the transaction record (such as a transfer or land) or transfer duty statement
- a completed Foreign Transfer Duty Declaration Form
- copies of the trust deed and any subsequent amendments to the trust deed
- a copy of either
- the duty endorsed agreement from when the property was originally acquired by the trust, e.g., contract for sale or offer and acceptance contract or
- a duty endorsed declaration of trust made by the trustee declaring the property is a trust asset
- if the information listed in item 4 is not available, or the trustee relationship is not disclosed in the agreement – provide evidence to show the property is a trust asset, including
- evidence the trust provided the money to purchase the property, such as bank statements, deposit receipts, etc.
- if the trustee borrowed money to acquire the property – evidence the money was provided as a loan to, or will be repaid by, the trust, such as loan documents, bank statements, receipts, etc.
- complete financial statements of the trust for the three financial years before the date of transfer of the property as a result of the change in trustee
- any other evidence to support the intentions of the parties when the property was originally acquired by the trust.
An assessment of duty will not be issued until all required information is provided.
