South Australian Numbered Acts South Australian Numbered Acts5—Amendment of section 71—Instruments chargeable as conveyances
(1) Section 71—after subsection (7) insert:
(7a) An instrument effecting or acknowledging, evidencing or recording a transfer of property by a trustee to a self managed superannuation fund in the following circumstances will be taken not to be a conveyance operating as a voluntary disposition inter vivos :
(a) the property was acquired for the trust or became subject to the trust—
(i) by virtue of an instrument duly stamped with ad valorem duty; or
(ii) as a result of a transaction to which section 71E applies in relation to which a statement under that section has been lodged and ad valorem duty paid; and
(b) the self managed superannuation fund financed the acquisition of the whole of the property by the trustee (either by providing money, obtaining a loan or other financial accommodation, or providing the consideration for the purchase in some other form); and
(c) the whole of the property being transferred has been held on trust for the benefit of the self managed superannuation fund.
(2) Section 71(15)—after the definition of "responsible entity insert:
"self managed superannuation fund" has the meaning as in the Superannuation Industry (Supervision) Act 1993 of the Commonwealth;