Victorian Numbered Acts

DUTIES AND LAND TAX ACTS (AMENDMENT) ACT 2005 (NO 85 OF 2005) - SECT 28

    (1)     In section 52 of the Land Tax Act 2005 —

        (a)     in sub-section (1), the definitions of "discretionary trust" and "unit trust scheme" are repealed ;

        (b)     sub-section (2) is repealed .

    (2)     For section 67(6) of the Land Tax Act 2005 substitute —

    "(6)     For the purposes of this section—

        (a)     a reference to the issued share capital of a company does not include a reference to any part of it that carries no right to participate beyond a specified amount in a distribution of either profits or capital;

        (b)     a reference to an owner of land does not include a reference to a beneficiary of a trust or a unitholder in a unit trust scheme to which the land is subject.".