New South Wales Consolidated Acts

LAND TAX MANAGEMENT ACT 1956 - SECT 25A

25A Classification of trust as special trust

(1) If land is subject to a trust, the Chief Commissioner may classify the trust as a special trust for land tax purposes--

(a) on the application of the trustee of the trust, or

(b) on the Chief Commissioner's own motion.

(2) Without limiting subsection (1) (b), the Chief Commissioner may classify a trust as a special trust in relation to a land tax year if any information required to be provided for that land tax year in relation to the trust, the land that is the subject of the trust or the beneficiaries of the trust is not provided as required under this Act.

(3) A classification of a trust as a special trust that is made on the application of the trustee of a trust has effect in respect of any assessment of land tax liability (being an initial assessment of land tax liability) that is made on or after the date on which the trust is classified as a special trust, and does not affect any assessment of land tax liability made before that classification.

(4) However, if an application for classification of a trust as a special trust is duly made by the trustee within the period allowed for the lodging of an objection to a notice of assessment of land tax liability (being a notice that relates to an initial assessment of land tax liability)--

(a) the classification of the trust as a special trust is taken to extend to the land tax year in respect of which that notice of assessment was issued, and

(b) liability for that land tax is to be re-assessed accordingly.

(5) The Chief Commissioner may revoke the classification of a trust as a special trust--

(a) on the application of the trustee of the trust, or

(b) on the Chief Commissioner's own motion.

(6) The Chief Commissioner must revoke the classification of a trust as a special trust if the trust was classified as a special trust on the application of the trustee and an application for revocation is duly made by the trustee of the trust.

(7) A revocation of a classification that is made on the application of the trustee of a trust has effect in respect of any assessment of land tax liability (being an initial assessment of land tax liability) that is made on or after the date on which the classification is revoked, and does not affect any assessment of land tax liability that was made before that revocation.

(8) However, if an application for revocation is duly made by the trustee within the period allowed for the lodging of an objection to a notice of assessment of land tax liability (being an initial assessment of land tax liability), and the Chief Commissioner revokes the classification--

(a) the revocation is taken to extend to the land tax year in respect of which that notice of assessment was issued, and

(b) liability for land tax is to be re-assessed accordingly.

(9) An application under this section is to be made in a form approved by the Chief Commissioner, and is to include such supporting information as the Chief Commissioner requires.

(10) The Chief Commissioner may, despite anything to the contrary in this section--

(a) reject any application under this section if it is made in contravention of the trust or trust deed that declares the trust concerned, and

(b) reject any application for revocation of the classification of a trust as a special trust if any information required to be provided in relation to the trust, the land that is the subject of the trust or the beneficiaries of the trust has not been provided as required under this Act or the Taxation Administration Act 1996 , and

(c) assess or re-assess any land tax liability for land the subject of a trust that is not a fixed trust on the basis of the trust being a special trust, including land tax liability in respect of land tax years that commenced or occurred before the trust was classified as a special trust.

(11) In this section--

"fixed trust" has the meaning given by section 3A.