New South Wales Consolidated Acts
[Search this Act]
DUTIES ACT 1997 - SECT 12
When does a liability for duty arise?
12 When does a liability for duty arise?
(1) A liability for duty charged by this Chapter arises when a transfer of
dutiable property occurs.
(2) However, if a transfer of dutiable property is
effected by an instrument, liability for duty charged by this Chapter arises
when the instrument is first executed.
(3) A liability for duty in respect of
a dutiable transaction that is charged with duty as if it were a transfer of
dutiable property arises even if the dutiable property is not in existence at
the time that the transfer is taken to have occurred, or the instrument
effecting the transfer is first executed, as the case requires.
electronic registry instrument is taken to be first executed when it is first
digitally signed by a subscriber (within the meaning of the Electronic
Conveyancing National Law (NSW) ).
AustLII: Copyright Policy