In January, the Supreme Court of Victoria handed down judgment against an applicant who had become the sole director of a company acting as trustee of a unit trust which held property in Victoria valued over $1 million. The Supreme Court confirmed the Commissioner of State Revenue’s assessment that the applicant acquired ‘control’ over the landholder and made a relevant acquisition for the purposes of the Duties Act. It was held the applicant made a relevant acquisition in the landholder of 100%.

Landholder duty issues for Hybrid Unit Trusts highlighted by Victory International Pty Ltd v Commissioner of State Revenue [2025] VSC 484

The case of Connelly (liquidator) v Papadopoulos, in the matter of TSK QLD Pty Ltd (in liq) (TSK) [2024] FCA 888 provides important insights into the serious implications for directors and officers of companies and professional advisers involved in the restructuring of companies when later found to be asset-stripping schemes. When restructuring, companies must conduct thorough due diligence and plan for a smooth transition to mitigate operational risks.

The New South Wales Supreme Court has reconvened for a second time, this time addressing the implications of a lost trust deed.  This decision highlights the crucial responsibility of trustees to properly preserve trust deed documents, not only to maintain the trust’s validity but also to prevent adverse outcomes, such as taxation or duties.

Australia is recognised for its reputation as an open, stable, globally connected economy. With its close connections across the Tasman, it’s no surprise that New Zealand businesses often making the move to expand their operations within Australia.

Australia is recognised for its reputation as an open, stable, globally connected economy. It’s no surprise that foreign businesses are making the move to expand their operations within Australia.

Australia is recognised for its reputation as an open, stable, globally connected economy. It’s no surprise that foreign businesses are making the move to expand their operations within Australia.

Transfer of property due to a change of trustee