DUTIES ACT 1997 - SECT 104S
Liability for surcharge purchaser duty on certain trust-related transactions
DUTIES ACT 1997 - SECT 104S
Liability for surcharge purchaser duty on certain trust-related transactions
104S Liability for surcharge purchaser duty on certain trust-related
transactions
(1) This section applies to a surcharge duty transaction that is-- (a) a
transfer , or an agreement for the sale or transfer , of
residential-related property where the transferee is acquiring the
residential-related property in a trustee capacity, or (b) a
declaration of trust over residential-related property by a person who,
because of the declaration, is a foreign trustee in respect of the trust. (2)
The transferee is only liable to pay surcharge purchaser duty on any such
surcharge duty transaction if the transferee is a foreign trustee in respect
of the trust. (3) In applying the provisions of this Chapter to a surcharge
duty transaction referred to in subsection (1) (a), the transferee is not to
be treated as a foreign person unless the transferee is a foreign trustee .
Note : For example, a trustee who is not a foreign trustee will not be liable
for surcharge purchaser duty , even if the trustee is otherwise a
foreign person .
http://www.austlii.edu.au/au/legis/nsw/consol_act/da199793/s104s.html