Transferor Trust Exemption Code A list of codes that identifies Transferor Trust Exemption Codes. Transferor Trust Exemption 1 The transfer was: - made to a non-resident discretionary trust - an arm's length transaction undertaken in the ordinary course of business. Transferor Trust Exemption 2 The transfer was: - made to a non-resident discretionary trust - an arm's length transaction not undertaken in the ordinary course of business - neither the transferor or its associates were in a position to control the trust (from the time of the transfer until the end of the transferor's current year of income). Transferor Trust Exemption 3 The transfer was: - made to a non-resident discretionary trust - made either on or before 12 April 1989 - neither the transferor or its associates were in a position to control the trust (from 12 April 1989 until the transferor's current year of income). This exemption will not apply to transfers made in the last three income years. Transferor Trust Exemption 4 The transfer was: - made to a non-resident non-discretionary trust - made either on or after 12 April 1989 for a consideration equal to or greater than the arm's length amount. Transferor Trust Exemption 5 The transfer was: - made to a public unit trust (that is a non-resident trust estate) - made either on or after 12 April 1989 - for a consideration equal to or greater than the arm's length amount - the sole purpose of the transaction was the arm's length acquisition of units in a public unit trust Transferor Trust Exemption 6 De minimis exemption The transfer was made to a non-resident trust that is a resident of a listed country and the total of the attributable incomes of all non-resident trust estates is equal to or less than the lesser of: - $20,000, or - 10% of the total of the net incomes of the trust estates.