Trustees of public unit trust schemes being either listed trusts or widely held trusts, will be assessed on the whole of the land subject to the trust at the general rates of land tax (and not the trust rates of land tax) as if the land were the only land owned by them.

A listed trust is a unit trust scheme some or all of the units in which are quoted on a recognised financial market, being a financial market operated by the Australian Securities Exchange Limited or a financial market of a stock exchange prescribed by the Stamp Duties Regulations 2013.

A widely held trust has the same meaning as that term would have in the Stamp Duties Act 1923 if a reference in Section 97(1) of the Stamp Duties Act 1923 to “300 unitholders” were a reference to “50 unitholders” (in summary, a widely held trust is a unit trust scheme which has not less than 50 unitholders none of whom, individually or together with any associated person, is entitled to more than 20% of the units in the trust).