(1) A reference in
this section to a subsequent event in relation to a superannuation fund is to
an event the effect of which is that the superannuation fund ceases to be an
approved superannuation fund, as defined in section 122(2).
(2) Subsection (3)
applies if, after a transaction is duty endorsed under section 122, a
subsequent event takes place in relation to the superannuation fund while the
dutiable property the subject of the transaction (the original dutiable
property ), or part of it, is held —
(a) by a
custodian of a trustee of the superannuation fund; or
(b) in
the superannuation fund.
(3) A subsequent event
is taken to be a transfer of the original dutiable property and is liable to
duty accordingly.
(4) Not later than 2
months after the day on which a subsequent event takes place a trustee, or a
custodian of a trustee, of the superannuation fund, as is relevant, is to
lodge a transfer duty statement for the event.
Penalty: a fine of $20 000.
(5) The person liable
to pay the duty is a trustee, or a custodian of a trustee, of the
superannuation fund, as is relevant.
[Section 123 inserted: No. 15 of 2015 s. 4.]