New South Wales Consolidated Acts New South Wales Consolidated Acts(cf section 57)
(1) No surcharge purchaser duty is chargeable on a transfer for no consideration of residential-related property to a beneficiary made under and in conformity with the trusts contained in a declaration of trust, subject to subsections (2) and (3).
(2) Subsection (1) applies only to the extent that the property being transferred is property that the Chief Commissioner is satisfied is--(a) wholly or substantially the same as the property the subject of the declaration of trust and that--(i) any surcharge purchaser duty has been paid on the declaration of trust over that property, or(ii) the declaration of trust is exempt from surcharge purchaser duty, or(b) dutiable property representing the proceeds of re-investment of property referred to in paragraph (a), or(c) property to which both paragraphs (a) and (b) apply.
(3) Subsection (1) applies only if the transferee was a beneficiary at the time at which duty became chargeable on the declaration of trust.