New South Wales Consolidated Acts
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DUTIES ACT 1997 - SECT 62B
Declaration of trust by custodian
(1) Duty of $500 is chargeable on a declaration of trust made by a custodian
of the trustee of a self managed superannuation fund that dutiable property is
or is to be held in trust for the trustee of the self managed superannuation
(a) the declaration of trust names the self managed superannuation
(b) ad valorem duty under this Chapter has been paid on the
acquisition of the property by the custodian or the trustee of the fund or
section 62A applied to that acquisition, and
(c) the Chief Commissioner is
satisfied that the consideration for the acquisition of the dutiable property
was or will be provided by the trustee of the self managed superannuation
(2) This section applies whether or not there has been a change in the
legal description of the dutiable property between the acquisition of the
property by the custodian or trustee and the declaration of trust.
Note : For
example, if the dutiable property is land, this section continues to apply if
there is a change in the legal description of the dutiable property as a
consequence of the subdivision of the land.
(3) This section applies despite
sections 55 and 65 (10).
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