Duties Act evidentiary requirements: Section 55
View complete list of evidentiary requirements.
Relevant evidentiary requirements must be provided when lodgements are made for assessment of duty.
Section 55
Property vested in an apparent purchaser
- Original executed Declaration of trust or original executed Transfer
- A copy of the executed and dated Statement or Acknowledgement of existing trust, Amendment and/or restatement of trust deed, Confirmation of trust deed etc (if applicable).
- A copy of the Agreement for Sale of Land for the purchase of the trust property
- If the real purchaser or apparent purchaser has since died, a copy of the death certificate and a full copy of the will/probate/change of trustee deed of appointment of the legal representative.
- A statutory declaration by the trustee (or legal representative of the trustee) stating:
- the intention of the parties regarding the beneficial ownership of the trust property at the time of purchase by the trustee and why the property was purchased in the name of the apparent purchaser,
- the age of the beneficiary or beneficiaries or, if the beneficiary is a company, the date of its incorporation, and
- who actually provided the purchase money for the trust property, including the deposit, payable under the contract for sale
- Where it is claimed that the beneficiary actually provided the purchase money for the trust property, documentary evidence is required. This may consist of bank statements, passbooks and copies of cheques etc. If any part of the purchase money was borrowed, details of the loan arrangements should be furnished
- For ELNO settlements:
- bank statement/s showing the transfer of funds from the bank account/s of the real purchaser/s into the general trust account of the solicitors for the real purchaser/s; then
- a screen shot of the transfer of the funds from the general trust account of the solicitors for the real purchaser/s to ELNO; and then
- a record of the ELNO settlement in favour of the vendor/vendor’s mortgagee.
- Purchaser/Transferee Declaration - Individual OR
Purchaser/Transferee Declaration - Non-individual - Also provide the supporting evidence as set out in the Purchaser/Transferee Explanatory Notes
- Client identification as set out on the Duties Client Identification (CI) and Proof of Status Requirements page.
See Revenue Ruling DUT 030.
Notes:
Where dutiable transaction includes an Acknowledgement of Trust:
- Surcharge purchaser duty may apply to an Acknowledgement of Trust if the land is residential-related property (refer to section 104K) and the beneficiary/unit holder is a foreign person which would make the trustee a foreign person and liable to surcharge purchaser duty on the dutiable property declared in the trust.
- If surcharge purchaser duty applies and is paid on the Contract, the Acknowledgement of Trust is not liable to surcharge purchaser duty in NSW. Surcharge purchaser duty is charged once. The declaration of trust and subsequent transfer of land are not double taxed but only if the surcharge purchase duty is charged on the Contract.
- If section 55(1)(a) concessional duty applies to the Acknowledgement of Trust (if the Acknowledgment of trust is a bare trust/resulting trust), there is no surcharge purchaser duty payable. Section 104ZM is a reduction of surcharge purchaser duty for Apparent Purchasers that have already paid surcharge purchaser duty on the Transfer or Contract for the Sale of Land when the property was initially purchased by the Apparent Purchaser.