If there is a transfer or agreement to transfer property to a trustee because a trustee is retiring or a new trustee is appointed, provide:
- the transaction record (such as a transfer or land) or transfer duty statement
- a completed Foreign Transfer Duty Declaration Form
- copies of the trust deed and any subsequent amendments to the trust deed
- a copy of either
- the duty endorsed agreement for transfer evidencing the original acquisition of the property by the trustee on behalf of the trust, e.g., contract for sale or offer and acceptance contract or
- a duty endorsed declaration of trust made by the trustee declaring that it will hold the property as trustee for the trust
- if the information listed in point 4 is not available, or the trustee relationship is not disclosed on the agreement for transfer – provide additional evidence to demonstrate that the trustee holds the property on behalf of the trust, including
- documentary evidence that the trust provided the money to purchase the property, such as bank statements, deposit receipts, etc.
- if the trustee borrowed money to acquire the property – documentary evidence that the money was provided as a loan to, or will be repaid by, the trust, such as loan documents from a financial institution, bank statements, receipts, etc.
- complete financial statements of the trust for the three financial years prior to the date of transfer of the property as a result of the change in trustee
- any other evidence to support the intentions of the parties at the date of the original acquisition of the property.
An assessment of duty will not be issued until all required information is provided.