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DUTIES ACT 1997 - SECT 12
When does a liability for duty arise?
12 When does a liability for duty arise?
(1) A liability for duty charged by this Chapter arises when a transfer of
dutiable property occurs.
(2) However, if a transfer of dutiable property is
effected by an instrument, liability for duty charged by this Chapter arises
when the instrument is first executed.
(3) A liability for duty in respect of
a dutiable transaction that is charged with duty as if it were a transfer of
dutiable property arises even if the dutiable property is not in existence at
the time that the transfer is taken to have occurred, or the instrument
effecting the transfer is first executed, as the case requires.
(4) An
electronic registry instrument is taken to be first executed-- (a) if the
instrument is digitally signed by a subscriber within the meaning of the
Electronic Conveyancing National Law (NSW) --on the date the instrument is
first digitally signed by the subscriber, or
(b) otherwise--when the Chief
Commissioner first receives information relating to the instrument.
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