Subdiv 124Q of the Income Tax Assessment

Subdivision 124-Q of the Income Tax Assessment Act 1997 (Cth); (B) when the scheme is completed, the interposed trust will not be an unlisted unit trust scheme;

Stamp Duty Act 1978 62 (C) the acquisition is not a tax avoidance scheme or part of a tax avoidance scheme; Note for subparagraph (i) If the interposed trust becomes an unlisted unit trust scheme at any time within 3 years after the scheme is completed, the statement lodged under section 56K(1) is required to be relodged for the Commissioner to reassess and impose duty as if the deduction did not apply, see section 56K(5A) and (5B). (v) if the interest is acquired within the relevant period by virtue of the vesting of marketable securities under a declaration of trust over shares and duty has already been paid under this Division in respect of an acquisition of that interest by virtue of the declaration of trust having been made when the marketable securities were to be vested in the declarant; (vi) if the interest is acquired within the relevant period by virtue of the addition of a beneficiary or class of beneficiaries to the existing beneficiaries under a discretionary trust and either of the following applies: (A) the existing and the additional beneficiaries are members of the same family; (B) the addition is not a tax avoidance scheme or part of a tax avoidance scheme; (vii) the acquisition occurs through a change in control of a corporate beneficiary and a change in control of a discretionary trust and the Commissioner is satisfied that the changes are not a tax avoidance scheme or part of a tax avoidance scheme; (ix) the Commissioner is satisfied the acquisition is made only for any of the following purposes: (A) to enable a person (other than the corporation) from whom the interest is acquired to obtain finance under an arrangement (the finance arrangement), whether by way of renewal of the finance arrangement or otherwise; (B) to enable the person to obtain an extension of the period for which finance was obtained under the finance arrangement;

Stamp Duty Act 1978 63 (C) to enable the person or someone providing finance to the person under the finance arrangement to enforce or terminate the finance arrangement; (x) if the interest is acquired within the relevant period in relation to the relevant acquisition and duty is not payable in respect of the interest by virtue of section 22 as in force before 1 July 2006 or by virtue of section 19 or 20 as in force on or after 1 July 2006; and (d) the amount, if any, paid under Division 8B (but not refunded) for the part of the duty for a merger vesting of land within the relevant period in relation to the relevant acquisition. (2A) Subject to subsection (2B), there is to be deducted from the duty chargeable on a statement lodged under section 56K the amount payable by a person under this Division in respect of the proportion of the dutiable value of the acquisition of an interest in the corporation in respect of land to which the corporation is entitled if the interest is acquired within the relevant period by the person or any related persons and a direct conveyance of the land from the person who held the interest to the person who acquired the interest: (a) would not be liable to ad valorem duty because of a law of the Territory (other than Division 2); or (b) would not be liable to duty because of an order or binding agreement under Part VIII, VIIIA or VIIIAB of the Family Law Act 1975 (Cth) in circumstances where both of the following apply: (i) the order or agreement relates to the marriage (including a void marriage or former marriage) or de facto relationship (including a former de facto relationship) of the person who held the interest and the person who acquired the interest; (ii) the person who acquired the interest is not an agent or trustee of another person. (2B) Subsection (2A) applies only if an amount payable in respect of the acquisition of the interest in the corporation has not been deducted under subsection (2)(c).