57Property passing to beneficiaries

#### 57 Property passing to beneficiaries 57 Property passing to beneficiaries > > (1) Duty of $100 is chargeable in respect of a transfer for no consideration of dutiable 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) duty charged by this Chapter has been paid in respect of the declaration of trust over that property, or > > > > > > > (ii) the declaration of trust is exempt from 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 in respect of the declaration of trust. > > **s 57:** Am 1999 No 10, Sch 2 \[5\]; 2008 No 122, Sch 1.2 \[5\]; 2016 No 32, Sch 1 \[12\]; 2023 No 26, Sch 1\[1\].