sec.18EWho is a related person

sec.18E Who is a related person

A person is a related person of another person if— for individuals—they are members of the same family; or for an individual and a corporation—the person or a member of the person’s family is a majority shareholder, director or secretary of the corporation or a related body corporate of the corporation, or has an interest of 50% or more in it; or for an individual and a trustee—the person or a related person under another provision of this section is a beneficiary of the trust; or for corporations—they are related bodies corporate; or for a corporation and a trustee—the corporation or a related person under another provision of this section is a beneficiary of the trust; or for trustees— there is a person who is a beneficiary of both trusts; or a person is a beneficiary of 1 trust and a related person under another provision of this section is a beneficiary of the other trust; or they are partners in a partnership. However, a person is not a related person of another person under subsection (1) , other than subsection (1) (d) , if the commissioner is satisfied the interests of the persons as beneficiaries in a trust— were acquired independently and, when the liability for land tax arises, are being used independently; and were not acquired for a common purpose and, when the liability for land tax arises, are not being used for a common purpose. See section 7 for when a liability for land tax arises. In this section— related bodies corporate means bodies corporate that are related under the Corporations Act , section 50 . s 18E ins 2019 No. 20 s 14 (sec.18E-ssec.1) A person is a related person of another person if— for individuals—they are members of the same family; or for an individual and a corporation—the person or a member of the person’s family is a majority shareholder, director or secretary of the corporation or a related body corporate of the corporation, or has an interest of 50% or more in it; or for an individual and a trustee—the person or a related person under another provision of this section is a beneficiary of the trust; or for corporations—they are related bodies corporate; or for a corporation and a trustee—the corporation or a related person under another provision of this section is a beneficiary of the trust; or for trustees— there is a person who is a beneficiary of both trusts; or a person is a beneficiary of 1 trust and a related person under another provision of this section is a beneficiary of the other trust; or they are partners in a partnership. (sec.18E-ssec.2) However, a person is not a related person of another person under subsection (1) , other than subsection (1) (d) , if the commissioner is satisfied the interests of the persons as beneficiaries in a trust— were acquired independently and, when the liability for land tax arises, are being used independently; and were not acquired for a common purpose and, when the liability for land tax arises, are not being used for a common purpose. See section 7 for when a liability for land tax arises. (sec.18E-ssec.3) In this section— related bodies corporate means bodies corporate that are related under the Corporations Act , section 50 .