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I am a trustee of an existing trust that already holds Victorian land and I have acquired new land under that trust. What do I need to do for land tax purposes?

April 26, 2017acquired existing holds land purposes tax Trust Trustee Victorian

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I am a trustee of an existing trust that already holds Victorian land and I have acquired new land under that trust. What do I need to do for land tax purposes?

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If you are a trustee that has recently acquired new land, you are required to notify the Commissioner by lodging a “Notice of Trust Acquisition of an Interest in Land” form with the Office within one month after acquiring the new land.