25AClassification of trust as special trust

25A Classification of trust as special trust

25A Classification of trust as special trust

(1) If land is subject to a trust, the Chief Commissioner may classify the trust as a special trust for land tax purposes—

(a) on the application of the trustee of the trust, or

(b) on the Chief Commissioner’s own motion.

(2) Without limiting subsection (1) (b), the Chief Commissioner may classify a trust as a special trust in relation to a land tax year if any information required to be provided for that land tax year in relation to the trust, the land that is the subject of the trust or the beneficiaries of the trust is not provided as required under this Act.

(3) A classification of a trust as a special trust that is made on the application of the trustee of a trust has effect in respect of any assessment of land tax liability (being an initial assessment of land tax liability) that is made on or after the date on which the trust is classified as a special trust, and does not affect any assessment of land tax liability made before that classification.

(4) However, if an application for classification of a trust as a special trust is duly made by the trustee within the period allowed for the lodging of an objection to a notice of assessment of land tax liability (being a notice that relates to an initial assessment of land tax liability)—

(a) the classification of the trust as a special trust is taken to extend to the land tax year in respect of which that notice of assessment was issued, and

(b) liability for that land tax is to be re-assessed accordingly.

(5) The Chief Commissioner may revoke the classification of a trust as a special trust—

(a) on the application of the trustee of the trust, or

(b) on the Chief Commissioner’s own motion.

(6) The Chief Commissioner must revoke the classification of a trust as a special trust if the trust was classified as a special trust on the application of the trustee and an application for revocation is duly made by the trustee of the trust.

(7) A revocation of a classification that is made on the application of the trustee of a trust has effect in respect of any assessment of land tax liability (being an initial assessment of land tax liability) that is made on or after the date on which the classification is revoked, and does not affect any assessment of land tax liability that was made before that revocation.