Do you own Residential Property in NSW in a Trust?

If you hold residential property in NSW in a Trust, then you need to have a Trust Deed Update completed before 31 December 2020 or risk paying extra in land tax surcharge.
In NSW, Surcharge land tax applies to foreign persons who are owners of residential land.

Federal Budget 2020-21 for Aussie Business

After federal, state and territory governments slammed the brakes on the Australian economy with the most drastic and far-reaching shut down measures experienced in our nation’s recent history, the Federal Treasurer has sought to re-ignite the flame to get our nation’s economy going again.