New South Wales Consolidated Acts

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DUTIES ACT 1997 - SECT 60

Instruments relating to superannuation

60 Instruments relating to superannuation

(1) The following instruments are liable to duty of $20 if they were first executed before 1 July 2001--
(a) an instrument that establishes, or that amends provisions governing, a superannuation fund, an approved deposit fund, a pooled superannuation trust or an eligible rollover fund, being a fund or trust that, in the opinion of the trustees, will be a complying superannuation fund, a complying approved deposit fund, a pooled superannuation trust or an eligible rollover fund within 12 months after the instrument or amending instrument takes effect,
(b) an instrument under which an employer agrees to participate in or contribute to a complying superannuation fund or a superannuation fund that, in the opinion of the trustees, will become a complying superannuation fund within 12 months after the employer agrees to participate in or contribute to the fund,
(c) an instrument that is executed in order to set out or vary the terms of custodial arrangements concerning a complying superannuation fund, a complying approved deposit fund, a pooled superannuation trust or an eligible rollover fund (whether or not the instrument contains any other terms) or concerning a fund or trust that, in the opinion of the trustees, will be a complying superannuation fund, a complying approved deposit fund, a pooled superannuation trust or an eligible rollover fund within 12 months after the instrument takes effect.
(2) A liability for duty charged by this section arises when the instrument is first executed.
(3) The persons liable to pay the duty are the parties to the instrument.
(4) The duty may be denoted by adhesive stamp.
(5) Despite subsection (1), an instrument to which this section applies is not liable to duty if--
(a) it is exempt from duty under a corresponding Act, or
(b) the duty for which it is liable under a corresponding Act has been paid.



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