Victorian Current Acts Victorian Current ActsS. 35(1) substituted by No. 84/2008 s. 8(1).
(1) No duty is chargeable under this Chapter in respect of—
(a) a transfer of dutiable property that is made by the transferor to a trustee or nominee to be held solely as trustee or nominee of the transferor, without any change in the beneficial ownership of the property; or
(b) a declaration of trust by a trustee or nominee referred to in paragraph (a) under which the dutiable property referred to in that paragraph is held on trust solely for the transferor, without any change in the beneficial ownership of the property; or
(c) a transfer made by way of re-transfer of dutiable property referred to in paragraph (a) to the transferor, without any change in the beneficial ownership of the dutiable property, if no person other than the transferor has had a beneficial interest in the property between the transfer to the trustee or nominee and the retransfer.
(2) A reference in subsection (1) to a change in beneficial ownership of dutiable property does not include a reference to the creation of a trustee's right of indemnity from the property.
S. 35(3) inserted by No. 58/2003 s. 9(2), amended by No. 84/2008 s. 8(2).
(3) This section applies whether or not there has been a change in the legal description of the dutiable property.
Example
An example of a change in the legal description of dutiable property is the issuing of new certificates of title of land following a subdivision of the land.
S. 36 amended by No. 46/2001 s. 7(2)(a)(b)(3), substituted by Nos 79/2001 s. 9, 84/2006 s. 3.