New South Wales Repealed Acts

This legislation has been repealed.

STAMP DUTIES ACT 1920 - SECT 82

82 Duty on certain conveyances of property between certain superannuation funds

(1) This section applies to an instrument which the Chief Commissioner is satisfied is an agreement to convey or a conveyance of property between superannuation funds (which, in the opinion of the respective trustees, will be complying superannuation funds for the year in which the conveyance occurs) in connection with a person's ceasing to be a member of, or otherwise ceasing to be entitled to benefits in respect of, the transferor fund and becoming a member of, or otherwise becoming entitled to benefits in respect of, the transferee fund.

(2) The duty payable on an instrument to which this section applies is the ad valorem duty as a conveyance or $200, whichever is the lesser.

(3) The person primarily liable to pay the duty is the transferee.

(4) An application for an assessment of duty in accordance with this section is to be accompanied by the following:

(a) a brief explanation of the background to the conveyance and the entitlements to be extinguished and created,

(b) copies of the governing rules of the complying superannuation funds concerned,

(c) a statement of the property to be conveyed,

(d) a copy of each instrument of conveyance,

(e) a statutory declaration from a trustee (or a director of a corporate trustee) of each of the superannuation funds concerned stating that, in the opinion of the trustee (or director), the fund will be a complying superannuation fund for the year in which the conveyance occurs.

(5) The Chief Commissioner may require further information.

(6) An instrument on which duty of $200 has been paid in accordance with an assessment under this section is taken to have been duly stamped with ad valorem duty as a conveyance.

(7) In this section:
"complying superannuation fund" includes a complying approved deposit fund.