104ZNExemption for property passing to beneficiaries

#### 104ZN Exemption for property passing to beneficiaries 104ZN Exemption for property passing to beneficiaries (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. > > **ss 104ZL–104ZO:** Ins 2016 No 32, Sch 1 \[14\].