Income Tax Assessment Act 1997
The trustee of a trust that is or has been a special disability trust may be eligible for an exemption to the extent that a dwelling is the main residence of the individual who is or has been the principal beneficiary of the trust.
Another beneficiary of the trust may be eligible for an exemption if the dwelling is distributed to that other beneficiary at or after the principal beneficiary ' s death.
The following provisions also apply to the exemption about compulsory acquisitions of adjacent land (see section 118-245 ).
The exemptions may not apply if the principal beneficiary of the trust is a foreign resident.