Can I avoid land tax with a right to reside where the remainderman is a trust or Co.?

[Rob1835744]

If my mother dies and grants me a ‘right to reside’ in her investment property (via a testamentary trust) and I occupy that property (as PPOR), am I exempt from NSW land tax, if he remainderman is a special trust or company?

The Land Tax Management Act 1956 No 26 Part 4, Sect 20 (3) is rather unclear as it makes no mention of the remainderman structure.

The State Revenue Legislation Amendment Act 2014 (SCH 2 [9]) says; “The Principal Place of Residence (PPR) exemption will no longer be available if the person with a remainder or reversionary interest is a company or a special trust”, but then says “The amendment does not affect life estates created by a will where the life estate is granted to a natural person whose life is also the subject of the life estate”. Ie; by a Will, rather than a Deed.

 

[Tim W]

I find that people who try to DIY this stuff, basically as a false economy,
are setting both themselves, and the testator/ estate, up
for a very expensive, and usually unwinnable, dog fight,
when it turns out that they've done it incorrectly.

I've seen this before.
Do your Mum a favour, and take her to see a solicitor
who will set it up exactly the way she wants.
Which I suspect may be somewhat simpler than what you have in mind.