Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 94

94 Concession—mixed and multiple claims for trustees—residential land

(1) This section applies if—

(a) a dutiable transaction is 1 of the following—

(i) the transfer, or agreement for the transfer, of residential land;

(ii) the acquisition, mentioned in section 85 (b) , of a lease of residential land;

(iii) the vesting, mentioned in section 85 (c) , of residential land; and

(b) the transferee, lessee or vested person is a trustee of a trust, other than a discretionary or unit trust; and

(c) the beneficiaries of the trust are individuals all of whom are under a legal disability.

(2) Section 93 applies to the transaction as if the beneficiaries are the transferees or lessees of, or vested persons for, the residential land.

(3) However, section 93 (4) and (5) applies in relation to a beneficiary only if the beneficiary is under a legal disability only because the beneficiary is not at least 18 years of age.