An exemption does not apply to any land that is owned by a company, or held in trust, unless it is held in trust for one or more disabled beneficiaries. At least one of the disabled beneficiaries must use the land as his or her primary residence (sole or principal place of residence) on 30 June in the financial year before the assessment year.
This exemption applies whether the trustee is a natural person or corporate trustee, providing the trust is established for one or more disabled beneficiaries, and at least one of those beneficiaries resides in the property. See Commissioner’s Practice LT 7 which addresses the circumstances when the Commissioner will grant an exemption from land tax on private residential land held in trust for a disabled beneficiary.
Use Form FLT26A if the property is not held in trust but is used by a disabled person related to the owner.
