Transfer of land under trust between the following parties in a trust is not subject to land value increment tax:
1. Between the settlor and the trustee upon the creation of the trust deed;
2. Between the original trustee and the newly appointed trustee upon change to the trustee during the life of the trust;
3. Between the trustee and the beneficiary upon the extinguishment of trust, provided the trust deed stipulates the beneficiary of trust property to be the settlor;
4. Between the trustee and the beneficiary in a testamentary trust upon the distinguishment of trust; or
5. Between the settlor and the trustee upon the unsuccessful creation, invalidation, cancellation or nullification of the trust.