Custodian to responsible entity
Under section 54A(2) of the Duties Act 1997, duty of $50 is chargeable in respect of a transfer of dutiable property from the custodian of the responsible entity of a managed investment scheme to the responsible entity.
Note: section 54A(3) of the Duties Act provides a concession for a vesting of land in NSW by statute law in a responsible entity if the Chief Commissioner is satisfied that section 54A(2) would apply in respect of the dutiable if it were a transfer of dutiable property.
Documentation to be submitted with the transfer at the time of stamping: A statutory declaration by the responsible entity stating:
(i) that the transferor is the custodian of the transferee who is the responsible entity of '[name of scheme]' registered managed investment scheme with ARSN [number of scheme] and the property was transferred to the custodian to hold in that capacity, and
(ii) that the transferee is the responsible entity, within the meaning of the Corporations Act, of '[name of scheme]' registered managed investment scheme with ARSN [number of scheme].
