POSTED: 16 Mar 2018
The Duties Act 1997 (NSW) sets out instances where a concessional or nominal amount of duty is payable on the transfer of property.Section 54(3) of the Duties Act 1997 (NSW) is an example of such a provision and states as follows:“(3) Duty of $50 is chargeable in respect of a transfer of dutiable trust property to a person (other than to a licensed trustee company, a special trustee, a trustee of a self managed superannuation fund or a trustee of a special disability trust) as a consequence of the retirement of a trustee or the appointment of a new trustee if the Chief Commissioner is satisfied that, as the case may be:
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