{"id":"nsw:sl-2022-0489","name":"Duties Regulation 2022","slug":"duties-regulation-2022","collection":"regulation","jurisdiction":"nsw","status":"in_force","isInForce":true,"actNumber":"489 of 2022","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":176101,"registerId":"nsw-nsw:sl-2022-0489-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Name of Regulation","content":"#### 1 Name of Regulation\n\n1 Name of Regulation\n\n> This Regulation is the [Duties Regulation 2022](/view/html/inforce/current/sl-2022-0489).","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n2 Commencement\n\n> This Regulation commences on the day on which it is published on the NSW legislation website.","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Definition","content":"#### 3 Definition\n\n3 Definition\n\n> In this Regulation—\n> \n> the Act means the [Duties Act 1997](/view/html/inforce/current/act-1997-123).\n> \n> Note—\n> \n> The Act and the [Interpretation Act 1987](/view/html/inforce/current/act-1987-015) contain definitions and other provisions that affect the interpretation and application of this Regulation.","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Excluded transactions","content":"#### 4 Excluded transactions\n\n4 Excluded transactions\n\n> > (1) For the Act, section 8(3) definition of excluded transaction, paragraph (k), the following transactions are prescribed—\n> > \n> > > (a) a change in default beneficial interests under a discretionary trust, including the following—\n> > > \n> > > > (i) a change to the default beneficial interests of the default beneficiaries,\n> > > \n> > > > (ii) the addition or removal of a default beneficiary,\n> > \n> > > (b) a change in beneficial ownership of dutiable property that occurs—\n> > > \n> > > > (i) under a testamentary instrument or the laws of intestacy, or\n> > > \n> > > > (ii) otherwise by operation of law on the death of a person,\n> > \n> > > (c) the grant or termination of a life estate in dutiable property for no consideration,\n> > \n> > > (d) the variation or surrender of an easement for no consideration,\n> > \n> > > (e) the grant, creation, variation or extinguishment of a mortgage, charge or other security over land,\n> > \n> > > (f) the creation, variation or surrender, for no consideration, of a tenant’s interest in fixtures that are fit-out for commercial premises,\n> > \n> > > (g) a change in tenancy under a lease for no consideration,\n> > \n> > > (h) a change, for no consideration, in the holding of property—\n> > > \n> > > > (i) from joint tenants to tenants in common in equal shares, or\n> > > \n> > > > (ii) from tenants in common in equal shares to joint tenants,\n> > \n> > > (i) the grant, variation, cessation, revocation or cancellation of a water right,\n> > \n> > > (j) the expiry, extinguishment or merger of one or more leases for no consideration,\n> > \n> > > (k) the variation or extinguishment of a profit a prendre for no consideration,\n> > \n> > > (l) the surrender of a security interest for no consideration,\n> > \n> > > (m) a transaction that results in an increase in a person’s interest in dutiable property under an agreement, relating to the dutiable property, entered into between the person and the State under a shared equity scheme,\n> > \n> > > (n) a change in an interest in dutiable property that occurs as a result of an increase in a person’s share percentage in land purchased under a Help to Buy arrangement.\n> \n> > (2) In this section—\n> > \n> > Help to Buy arrangement has the same meaning as in the [Help to Buy Act 2024](http://www.legislation.gov.au/) of the Commonwealth.\n> > \n> > security interest has the same meaning as in the [Personal Property Securities Act 2009](http://www.legislation.gov.au/) of the Commonwealth.\n> > \n> > shared equity scheme has the same meaning as in the [First Home Owner Grant and Shared Equity Act 2000](/view/html/inforce/current/act-2000-021), section 24B.\n> > \n> > water right has the same meaning as in the [Valuation of Land Act 1916](/view/html/inforce/current/act-1916-002).\n> \n> **s 4:** Am 2022 (784), Sch 1\\[1\\] \\[2\\]; 2025 No 31, Sch 1.2\\[1\\] \\[2\\].","sortOrder":3},{"sectionNumber":"4A","sectionType":"section","heading":"Qualified investors","content":"#### 4A Qualified investors\n\n4A Qualified investors\n\n> For the Act, section 157AB(1)(h1), the following statutory bodies are prescribed—\n> \n> > (a) the Clean Energy Finance Corporation established by the [Clean Energy Finance Corporation Act 2012](http://www.legislation.gov.au/) of the Commonwealth,\n> \n> > (b) the Workers Compensation Nominal Insurer established by the [Workers Compensation Act 1987](/view/html/inforce/current/act-1987-070), to the extent that it manages the Workers Compensation Insurance Fund.\n> \n> **s 4A:** Ins 2025 (16), Sch 1\\[1\\].","sortOrder":4},{"sectionNumber":"5","sectionType":"section","heading":"Transitional provision consequent on State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022","content":"#### 5 Transitional provision consequent on State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022\n\n5 Transitional provision consequent on [State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022](/view/pdf/asmade/act-2022-16)\n\n> For the Act, Schedule 1, clause 1(3), this Regulation, section 4 is taken to have commenced on 19 May 2022.","sortOrder":5},{"sectionNumber":"6","sectionType":"section","heading":"Provision consequent on Revenue Legislation Further Amendment Act 2024—the Act, Sch 1, cl 1","content":"#### 6 Provision consequent on Revenue Legislation Further Amendment Act 2024—the Act, Sch 1, cl 1\n\n6 Provision consequent on [Revenue Legislation Further Amendment Act 2024](/view/pdf/asmade/act-2024-90)—the Act, Sch 1, cl 1\n\n> Section 4A, as inserted by the [Duties Amendment (Qualified Investors) Regulation 2025](/view/pdf/asmade/sl-2025-16), is taken to have commenced on 1 February 2024.\n> \n> **s 6:** Ins 2025 (16), Sch 1\\[2\\].","sortOrder":6}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The regulation maintains its original narrow purpose: specifying excluded transactions and qualified investors for stamp duty purposes. The 2025 amendments added the qualified investors provision (4A) and a related transitional provision (6), but this is a natural extension of the regulation's function rather than scope creep. The core content remains the excluded transactions list in section 4."},"complexity_factors":["Only 6 operative sections total, with 2 being purely mechanical (commencement and naming)","Section 4 contains a single list of 14 excluded transaction types with relatively straightforward descriptions","Minimal cross-referencing — only refers back to the parent Duties Act 1997 for definitions and context","No nested conditional logic or 'exceptions to exceptions'","Recent amendments (2025) added only 2 new items (4A and 6) without restructuring existing content","Defined terms limited to 4 items in section 4(2), all incorporating definitions from other legislation by reference"],"plain_english_summary":"This regulation sets out specific rules for NSW stamp duty (called 'duties' in the legislation). It does two main things:\n\n**1. Lists transactions that don't attract stamp duty**\nSection 4 specifies 14 types of property dealings that are 'excluded transactions' — meaning no stamp duty is payable even though they might otherwise look like dutiable transactions. These include:\n- **Changes to family trusts**: Altering who gets money from a discretionary trust by default\n- **Death-related transfers**: Property passing under a will or when someone dies without a will\n- **Security interests**: Creating or releasing mortgages and charges over land\n- **Lease changes**: Converting between joint tenancy and tenancy in common (ways of co-owning property) for no payment\n- **Water rights and easements**: Granting or varying rights to use water or access land\n- **Government housing schemes**: Transactions under NSW's shared equity scheme or the federal 'Help to Buy' program\n\n**2. Names special investors who get duty exemptions**\nSection 4A designates two specific government bodies as 'qualified investors' who can access stamp duty exemptions when acquiring property interests:\n- The federal Clean Energy Finance Corporation (invests in clean energy projects)\n- The NSW Workers Compensation Nominal Insurer (manages the workers comp insurance fund)\n\n**Why this matters**: Stamp duty is a major cost in property transactions (often tens of thousands of dollars). This regulation carves out important exceptions for common situations like estate planning, refinancing, and government policy initiatives — preventing unfair tax hits on transactions that don't represent genuine commercial sales."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"issue_detection":{"absurdities":[],"contradictions":[]},"summary":{"complexity_score":5,"scope_assessment":{"changed":false,"description":"Based on the available metadata only, there is no indication that the scope of this regulation has changed from its original intent. It remains a supporting regulation to the Duties Act 1997, with amendments appearing to be routine updates rather than fundamental expansions or contractions of scope. However, without access to the full text of the provisions, a definitive assessment of scope drift cannot be made."},"complexity_factors":["Operates as subordinate legislation (a regulation) dependent on the parent Duties Act 1997, meaning you must read both together to understand the full legal effect","Stamp duty law in NSW is inherently complex, with multiple transaction types, exemption categories, and concession schemes","The regulation has been amended multiple times (4 versions since 2022), meaning the applicable rules depend on the date of your transaction","Automatic repeal mechanism under the Subordinate Legislation Act 1989 adds a time-sensitivity element practitioners must track","The substantive provisions are not visible in this extract, making it impossible to assess the full technical complexity of the operative rules","Interacts with broader NSW tax and property law framework, requiring cross-referencing multiple instruments"],"plain_english_summary":"The Duties Regulation 2022 (NSW) sets out the technical rules that implement the Duties Act 1997, affecting stamp duty liability, exemptions, valuations and administrative procedures for property buyers, businesses, conveyancers and Revenue NSW. It determines how much duty is payable and what paperwork is required for liable transactions.\n\nNote: the provided extract contains only administrative/status information (not the substantive provisions), and the regulation is due for automatic repeal on 1 September 2027."},"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":true,"description":"The Regulation expands and specifies the scope of \"excluded transactions\" under the Duties Act by listing particular transaction types (s4), adds two prescribed statutory bodies as \"qualified investors\" (s4A), and applies those changes retrospectively for specified dates (s5, s6). These amendments therefore change the reach of duty exemptions from earlier, less‑specific arrangements by creating explicit categories and backdating their operation."},"complexity_factors":["Extensive catalogue of excluded transaction types requiring factual matching (s4(1)(a)–(n)) increases transactional complexity for practitioners and parties.","Retrospective commencement provisions require retroactive application and record‑checking (s5, s6).","Heavy reliance on definitions and cross‑references to other statutes (Duties Act; Interpretation Act; Help to Buy Act (Cth); PPSA (Cth); First Home Owner Grant and Shared Equity Act; Valuation of Land Act) creates cross‑jurisdictional interpretive complexity (s3; s4(2)).","Operationally significant but textually concise concepts such as \"no consideration\", \"default beneficiaries\", \"security interest\", and \"water right\" demand legal characterisation in each case (s4(1)(a), (c), (f), (l), (i); s4(2)).","Prescriptive listing of statutory bodies as qualified investors is narrow and specific, limiting discretionary administration but concentrating fiscal effects (s4A).","Interaction with shared equity/Help to Buy schemes and related increases in interest or share percentages creates latticework of eligibility and valuation issues (s4(1)(m)–(n)).","Practical compliance burden: parties must assemble documentary proof that a transaction fits a prescribed exclusion (transfer instruments, trust records, wills, lease documents, mortgage/security instruments) (s4)."],"plain_english_summary":"This Regulation sets out specific types of property transactions that are treated as \"excluded transactions\" for duty purposes and names two statutory bodies as \"qualified investors\" for a duty concession. It also backdates the start date for those changes. Affected parties — trustees, beneficiaries, transferees, lenders and the named statutory bodies — will not pay duty for the prescribed transactions; the State decides eligibility by reference to this Regulation and the cross‑referenced Commonwealth and NSW Acts (see s3, s4, s4A, s5, s6)."}},"importantCases":[],"_links":{"self":"/api/acts/duties-regulation-2022","history":"/api/acts/duties-regulation-2022/history","analysis":"/api/acts/duties-regulation-2022/analysis","conflicts":"/api/acts/duties-regulation-2022/conflicts","importantCases":"/api/acts/duties-regulation-2022/important-cases","documents":"/api/acts/duties-regulation-2022/documents"}}