s. 46A (1) A person who is the owner of land as trustee of a trust is liable for land tax on the land at the applicable rate set out in Part 3 of Schedule 1. (2) The trustee is to be assessed for land tax on the whole of the land subject to the trust as if the land were the only land owned by the trustee. (3) This section does not apply to— (a) land subject to a unit trust scheme if an S. 46A(3)(a) substituted by appointment of a nominated PPR beneficiary No. 83/2009 for the scheme is in force and the land is— s. 9(1)(a). (i) used and occupied as the principal place of residence of the nominated PPR beneficiary; and (ii) not used to carry on a substantial business activity; or (b) land subject to a discretionary trust if— (i) an appointment of a nominated beneficiary for the trust is in force; or (ii) an appointment of a nominated PPR S. 46A(3)(b)(ii) substituted by beneficiary for the trust is in force and No. 83/2009 the land is— s. 9(1)(b). (A) used and occupied as the principal place of residence of the nominated PPR beneficiary; and (B) not used to carry on a substantial business activity; or (c) land subject to an excluded trust; or S. 46A(3)(c) amended by No. 68/2007 s. 10(a). (d) land subject to an administration trust. S. 46A(3)(d) inserted by No. 68/2007 s. 10(b).
(1) A person who is the owner of land as trustee of a trust is liable for land tax on the land at the applicable rate set out in Part 3 of Schedule 1. (2) The trustee is to be assessed for land tax on the whole of the land subject to the trust as if the land were the only land owned by the trustee. (3) This section does not apply to— S. 46A(3)(a) substituted by No. 83/2009 s. 9(1)(a). (a) land subject to a unit trust scheme if an appointment of a nominated PPR beneficiary for the scheme is in force and the land is— (i) used and occupied as the principal place of residence of the nominated PPR beneficiary; and (ii) not used to carry on a substantial business activity; or (b) land subject to a discretionary trust if— (i) an appointment of a nominated beneficiary for the trust is in force; or S. 46A(3)(b)(ii) substituted by No. 83/2009 s. 9(1)(b). (ii) an appointment of a nominated PPR beneficiary for the trust is in force and the land is— (A) used and occupied as the principal place of residence of the nominated PPR beneficiary; and s. 46A (B) not used to carry on a substantial business activity; or S. 46A(3)(c) amended by No. 68/2007 s. 10(a). (c) land subject to an excluded trust; or S. 46A(3)(d) inserted by No. 68/2007 s. 10(b). (d) land subject to an administration trust.
05-88a044.docx