sec.57What is a trust interest

### sec.57 What is a trust interest A trust interest is a person’s interest as a beneficiary of a trust, other than a life interest. For a trust that is a discretionary trust, only a taker in default of an appointment by the trustee can have a trust interest. Also, for a trust that is a superannuation fund, a member of the fund has a trust interest in the fund. For exemption from transfer duty for a trust acquisition or surrender of a member’s interest in a superannuation fund, see section 119 . (sec.57-ssec.1) A trust interest is a person’s interest as a beneficiary of a trust, other than a life interest. (sec.57-ssec.2) For a trust that is a discretionary trust, only a taker in default of an appointment by the trustee can have a trust interest. (sec.57-ssec.3) Also, for a trust that is a superannuation fund, a member of the fund has a trust interest in the fund. For exemption from transfer duty for a trust acquisition or surrender of a member’s interest in a superannuation fund, see section 119 .