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Bird in Hand Gold Project - request to Terramin to provide Response Document ¦ New exploration and mining fee structure from 1 January 2020 ¦ Accelerated Discovery Initiative ¦ ExploreSA: The Gawler Challenge

Trust or self-managed superfund

Whilst real property can be held in a trust or self-managed super fund, the Real Property Act 1886 (SA) forbids the registration of beneficial interest on the title. Consequently, whilst the land may be held in a trust or a self-managed superannuation fund, the registered titleholder will be the trustee.

  • Example – No return: Brown Earthmovers Pty Ltd holds an extractive minerals lease over freehold land owned by Brown Earthmovers Pty Ltd (as trustee for the Brown Family Trust or the Brown Family Super Fund). Brown Earthmovers Pty Ltd will pay rental, and there is no rent returned as the trustee company will appear on the title.

Directors or shareholders

The changes do not apply to the relationship between a shareholder or director and a company.

  • Example - 95% return: Brown Earthmovers Pty Ltd holds an extractive minerals lease over freehold land owned by director Mr Doug Brown. Brown Earthmovers Pty Ltd will pay 100% of the rental, and the company director, Doug, will receive the 95% return.

Subsidiaries and parent companies

The changes recognise related bodies corporates under the Corporations Act.

  • Example - No return: Brown Earthmovers Limited holds an extractive minerals lease over freehold land owned by Brown Earthmovers South Australia Pty Ltd. Brown Earthmovers Limited will pay rental, and there is no rent returned as Brown Earthmovers South Australia Pty Ltd is a wholly-owned subsidiary of Brown Earthmovers Limited.
  • Example - No return: Brown Earthmovers South Australia Pty Ltd holds an extractive minerals lease over freehold land owned by Brown Earthmovers Limited and Brown Construction Limited. Brown Earthmovers South Australia Pty Ltd will pay rental, and there is no rent returned as Brown Earthmovers Limited is a part-owner of Brown Earthmovers South Australia Pty Ltd.