Special Disability Trust duty exemption
From 1 July 2010, no duty is payable on a transfer or grant of a residential lease to a Special Disability Trust where the property will be used as the principal place of residence of the beneficiary of the trust.
A Special Disability Trust is a trust established solely for the future care and accommodation needs of a person with a severe disability.
To be eligible as a principal beneficiary of the trust, a person must meet the definition of a severe disability and be assessed by the Centrelink Special Disability Trust Team. The Social Security Act 1991 Cth (SS Act) Volume 3 Part 3.18A section provides details of the specific requirements that need to be complied with in order for a Special Disability Trust to be established and maintained.
Some of these requirements are:
- be protective in nature;
- have only one principal beneficiary;
- the principal beneficiary must meet the eligibility criteria;
- provide only for the accommodation and care needs of the principal beneficiary;
- conduct independent audits when required; and
- provide annual financial statements.
In addition, the SS Act has specific requirements that the trust must not be used to purchase property from a family member even if the property will be used for the beneficiary’s accommodation. For more information regarding a Special Disability Trust see humanservices.gov.au.
The property must become the principal place of residence of the beneficiary of the trust.
Documents required on lodgment
You will need to provide a copy of the trust deed, an assessment by the Centrelink Special Disability Trust Team as well as the usual documents see Land and improvements.
Other forms and information is available below: