Private Acquisitions in entities landholders Different treatment of companies and unit trusts for landholder (private duty purposes and different rules and thresholds between companies or States trusts): 50% Acquisition thresholds: Public Private unit Private landholders trusts 20% – companies (listed Public Private and unit trust Listed corporations landholders company and Listed company schemes – corporation or and listed unit (listed wholesale unit and trust 90% 50% Company and Company and listed unit trust trusts): 90% companies or trust 50% – trusts 50% trusts 50% scheme 90% public unit Public Private – – – Listed company and All other Private trust landholder companies trust 50% – entities 50% landholders schemes): (listed and public unit (unlisted 90% companies trust schemes corporations): and public unit 90% – 50% Separate trusts) - 90% treatment of “voluntary disposition inter vivos” for unit trusts no – threshold Landholding threshold $1m of land until 30 June $500,000 of $500,000 of No minimum $2m of land $2m of land 2018. No $1m of land $2m of land land land minimum from 1 July 2018 Tracing threshold for land of subsidiaries Corporations / Listed entities – listed unit 90% ownership trusts: if a Unlisted entities subsidiary -50% ownership under the Corporations 50% Discretionary 50% 50% 20% Act 2001. 50% entitlement to 20% trustee entity – ownership ownership ownership ownership property ownership is potential Corporate distributed beneficiary beneficiaries: 50% or more. Partnership – Trustees: any 50% beneficial contribution / losses interest. Inconsistent duty base for landholder duty : Land and land Land, which assets which includes Duty is payable on: which include includes anything fixed Land and P&E anything fixed anything fixed to the land Land and Land only Land and P&E Land only on the land on the land whether or not goods *Certain P&E that may be that may be the item is a are exempt separately separately fixture at law, owned and owned and owned certain rights certain rights separately
Acquisitions in entities Different treatment of companies and unit trusts for landholder duty purposes and different rules and thresholds between States Acquisition thresholds: Company and trusts – 50% Company and trusts – 50% Listed corporation or listed unit trust scheme – 90% All other entities 50% Public landholders (listed corporations and listed unit trusts): 90% Private landholders (unlisted corporations): 50% Private landholders (private companies or trusts): 50% Public landholders (listed companies or public unit trust schemes): 90% Separate treatment of “voluntary disposition inter vivos” for unit trusts – no threshold Private companies and unit trust schemes – 50% Listed companies and public unit trust schemes – 90% Private unit trusts – 20% Private company and wholesale unit trust – 50% Public landholder (listed companies and public unit trusts) - 90% Listed company and trust 90% Private company and trust – 50% Landholding threshold No minimum $2m of land $500,000 of land $2m of land $1m of land until 30 June 2018. No minimum from 1 July 2018 $500,000 of land $1m of land $2m of land Tracing threshold for land of subsidiaries 50% ownership 50% ownership 20% ownership Corporations / listed unit trusts: if a subsidiary under the Corporations Act 2001. Corporate beneficiaries: 50% or more. Trustees: any beneficial interest. 50% ownership 50% entitlement to property distributed 20% ownership Listed entities – 90% ownership Unlisted entities -50% ownership Discretionary trustee – entity is potential beneficiary Partnership – 50% contribution / losses Inconsistent duty base for landholder duty Duty is payable on: Land only Land and P&E Land only : which include anything fixed on the land that may be separately owned and certain rights Land and land assets which includes anything fixed on the land that may be separately owned and certain rights Land and goods Land, which includes anything fixed to the land whether or not the item is a fixture at law, owned separately Land and P&E *Certain P&E are exempt
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