If I already have an IP in my name, and it is almost up to the threshold on its own, and I decide to buy another, then I'm straight into land tax territory. With trusts having a lower threshold of $350k could I create two trusts? Two trusts, controlled by me, would buy the house, equal shares. Would each trust enjoy its own $350k threshold? I went to OSR site and found this (below) but I'm not sure what a cloned trust is, and whether doing this would work, or if someone would put the values together if I'm in charge of both new trusts plus an IP in my name. This is Queensland property. From the OSR site... Trustees The land tax rates for companies, trustees and absentees will apply. In Queensland, trust land is registered in the name of the trustee. If your assessment includes both trust and non-trust-owned land, or is not assessed at the rate for trustees, call us on 1300 300 734 to discuss the trust relationship. As a trustee, you are liable for land tax if the total taxable value of the freehold land held for that trust is $350,000 or more. You may be able to apply for exemptions to reduce your total taxable value. When calculating your total taxable value, we will not add the value of land held for one trust to the value of any other land you hold as: trustee of another trust, unless it is a cloned trust an individual or company.