New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 62

62 Transfers between trustees and custodians of superannuation funds or trusts

(1) This section applies to the following dutiable transactions--

(a) a transfer of, or an agreement to transfer, dutiable property from a trustee of--

(i) a complying superannuation fund, or

(ii) a pooled superannuation trust, or

(iii) a fund or trust that, in the opinion of the trustees, will be a complying superannuation fund or a pooled superannuation trust within 12 months after the transfer takes effect,

to a custodian of the trustee of the fund or trust, where there is no change in the beneficial ownership of the property,

(b) a transfer of, or an agreement to transfer, dutiable property from a custodian of a trustee of--

(i) a complying superannuation fund, or

(ii) a pooled superannuation trust, or

(iii) a fund or trust that, in the opinion of the trustees, will be a complying superannuation fund or a pooled superannuation trust within 12 months after the transfer takes effect,

to a trustee of the fund or trust, where there is no change in the beneficial ownership of the property,

(c) a transfer of, or an agreement to transfer, dutiable property from a custodian of a trustee of--

(i) a complying superannuation fund, or

(ii) a pooled superannuation trust, or

(iii) a fund or trust that, in the opinion of the trustees, will be a complying superannuation fund or a pooled superannuation trust within 12 months after the transfer takes effect,

to another custodian of the trustee of the fund or trust, where there is no change in the beneficial ownership of the property.

(3) The duty chargeable on a dutiable transaction to which this section applies is--

(a) except as provided by paragraph (b), ad valorem duty in accordance with this Chapter or $750, whichever is the lesser, or

(b) if the dutiable property transferred, or agreed to be transferred, is marketable securities, $10.

(4) In this section,
"complying superannuation fund" includes a complying approved deposit fund and an eligible rollover fund.