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 ‘executor’s year’ is the general principle that the personal representatives of an estate, be it the executors or administrators (in the case of an intestacy), have one year from the date of death of the person whose estate is being administered, to administer the estate.

A binding death benefit nomination (BDBN) is a direction from a member of a superannuation fund to the trustee of the superannuation fund on how that person’s superannuation entitlements are to be paid or transferred on their death. In the absence of a BDBN, the trustee is not compelled to distribute the superannuation proceeds in accordance with the member’s wishes.

A caveat is an application that any person with a legal interest in a property can lodge with Land Use Victoria. In family law, caveats have therefore historically been used by a party to a separation who has an interest in a real property, but to which they are not on title.