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Does your Discretionary Trust / Family Trust
attract Surcharge Land Tax?

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6/83 George Street, Parramatta NSW 2150 | T: +61 2 9687 8885
www.phanglegal.com.au

6/83 George Street, Parramatta NSW 2150 | T: +61 2 9687 8885<br><a href=”https://www.phanglegal.com.au”>www.phanglegal.com.au</a>

Are any specified beneficiaries (named
 in the trust) ‘foreign persons’^?

Are any specified beneficiaries (named<br> in the trust) ‘foreign persons’^?

Are any general beneficiaries (not named
 in the trust) foreign persons or intended to
be foreign persons?

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Does the trust deed include a clause
 that excludes foreign persons from
being a beneficiary?

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Has the trust deed been customised
 or previously varied?

Has the trust deed been customised<br> or previously varied?

SURCHARGE LAND TAX APPLIES

SURCHARGE LAND TAX APPLIES

DEED OF VARIATION REQUIRED

DEED OF VARIATION REQUIRED

Yes

Yes

Yes

Yes

Yes

Yes

NO VARIATION REQUIRED

NO VARIATION REQUIRED

No / Don’t know

No / Don’t know

Yes

Yes

TRUST REVIEW
Does customisation or variation exclude foreign persons from being a beneficiary?

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No / Don’t know

No / Don’t know

Yes

Yes

No

No

No / Don’t know

No / Don’t know

No / Don’t know

No / Don’t know

Yes*

Yes*

^”foreign person” within the meaning of the Foreign Acquisitions and Takeovers Act 1975 of the Commonwealth and the Foreign Acquisitions and Takeovers Regulation 2015, as modified by section 104J of the Duties Act 1997. For more information, see https://www.revenue.nsw.gov.au/help-centre/resources-library/g009

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* Even if the trust deed has been customised or previously varied, you may still elect to have a Deed of Variation to ensure beyond doubt that foreign persons cannot be a beneficiary.

* Even if the trust deed has been customised or previously varied, you may still elect to have a Deed of Variation to ensure beyond doubt that foreign persons cannot be a beneficiary.

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