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    2. Definitions
    3. Beneficiary

    Beneficiary

    Issued date
    17 July 2025

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    • A beneficiary of a trust is a person entitled to a beneficial interest in land or income derived from the land that is the subject of the trust, including a person who holds an interest through a series of trusts.
    • A beneficiary of a discretionary trust is a person in whose favour a power of appointment has been exercised during the 12-month period ending when the liability arises (30 June of the relevant year). If no power of appointment has been exercised, the beneficiary will be the taker in default under the trust document.