The VCAT ruling of Baullo v Commissioner of State Revenue [2023] VCAT 1164 (Baullo), has reaffirmed the position of the State Revenue Office (SRO) that forgiving beneficiary loans in relation to a distribution of property from a discretionary trust to a beneficiary will prohibit utilisation of the exemption to land transfer (stamp) duty afforded by section 36A of the Duties Act 2000 (Act).

The Victorian State Budget for the 2020-21 year has a focus on “people” and economic stimulus in order to assist the economy recover from the Covid-19 pandemic lockdowns.

The budget focused on promoting investment into housing and planning, rebuilding the state and its economy.