Appendix 8: Transferor trust exemption codes

1

102AAT(1)(a)(i)(A) to (D)

The transfer was:

• made to a non-resident discretionary trust
• an arm's length transaction undertaken in the ordinary course of business.

2

102AAT(1)(a)(i)(A) to (C) and (E)

The transfer was:

• made to a non-resident discretionary trust
• an arm's length transaction not undertaken in the ordinary course of business
• one where neither the transferor nor its associates were in a position to control the trust (from the time of the transfer until the end of the transferor's current year of income).

3

102AAT(1)(a)(i)(A) to (C) and (F)

The transfer was:

• made to a non-resident discretionary trust
• made either on or before 12 April 1989
• one where neither the transferor nor its associates were in a position to control the trust (from 12 April 1989 until the transferor's current year of income).

This exemption will not apply to transfers made in the last 3 income years.

4

102AAT(1)(a)(ii)(A) to (C)

The transfer was:

• made to a non-resident non-discretionary trust
• made either on or after 12 April 1989
• for a consideration equal to or greater than the arm's length amount.

5

102AAT(1)(a)(ii)(A), (B) and (D)

The transfer was:

• made to a public unit trust (that is a non-resident trust estate)
• made either on or after 12 April 1989
• for a consideration equal to or greater than the arm's length amount
• one where the sole purpose of the transaction was the arm's length acquisition of units in a public unit trust.

6

102AAZE

De minimis exemption

The transfer was made to a non-resident trust that is a resident of a listed country and the total of the attributable incomes of all non-resident trust estates is equal to or less than the lesser of either:

• $20,000
• 10% of the total of the net incomes of the trust estates.

7

No exemption code applies

A reporting entity selects code 7 ‘No exemption code applies’ at question 27 – label C where none of the other Appendix 8 exemption codes apply to a relevant top 3 transfer to a non-resident trust (as required by question 27).