Land Tax Act 2010
sec.24Beneficiaries of discretionary trusts
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sec.24 Beneficiaries of discretionary trusts
The beneficiaries of a discretionary trust when a liability for land tax arises are the persons in whose favour a power of appointment has been exercised during the 12 month period ending when the liability arises. See also schedule 4 , definition beneficiary In this section— discretionary trust means a trust over property for which a person has a power of appointment. (sec.24-ssec.1) The beneficiaries of a discretionary trust when a liability for land tax arises are the persons in whose favour a power of appointment has been exercised during the 12 month period ending when the liability arises. See also schedule 4 , definition beneficiary (sec.24-ssec.2) In this section— discretionary trust means a trust over property for which a person has a power of appointment.