sec.66When no transfer duty on trust acquisition or trust surrender

### sec.66 When no transfer duty on trust acquisition or trust surrender If, because of the creation of a trust of dutiable property, a person acquires a trust interest in the property, transfer duty is not imposed on the acquisition if— transfer duty has been paid for the dutiable transaction that is the creation of the trust of the property; or the dutiable transaction that is the creation of the trust of the property is exempt from transfer duty. If, because of the acquisition of dutiable property by a trust, a person acquires a trust interest in the property, transfer duty is not imposed on the acquisition of the trust interest if— the trustee has paid transfer duty for the acquisition of the property; or the dutiable transaction that is the acquisition of the property is exempt from transfer duty; or duty is not imposed on the acquisition of the property by the trustee. If, because of the termination of a trust of dutiable property, a person surrenders a trust interest in the property, transfer duty is not imposed on the surrender if— transfer duty has been paid for the dutiable transaction that is the termination of the trust of the property; or the dutiable transaction that is the termination of the trust of the property is exempt from transfer duty. (sec.66-ssec.1) If, because of the creation of a trust of dutiable property, a person acquires a trust interest in the property, transfer duty is not imposed on the acquisition if— transfer duty has been paid for the dutiable transaction that is the creation of the trust of the property; or the dutiable transaction that is the creation of the trust of the property is exempt from transfer duty. (sec.66-ssec.2) If, because of the acquisition of dutiable property by a trust, a person acquires a trust interest in the property, transfer duty is not imposed on the acquisition of the trust interest if— the trustee has paid transfer duty for the acquisition of the property; or the dutiable transaction that is the acquisition of the property is exempt from transfer duty; or duty is not imposed on the acquisition of the property by the trustee. (sec.66-ssec.3) If, because of the termination of a trust of dutiable property, a person surrenders a trust interest in the property, transfer duty is not imposed on the surrender if— transfer duty has been paid for the dutiable transaction that is the termination of the trust of the property; or the dutiable transaction that is the termination of the trust of the property is exempt from transfer duty. - (a) transfer duty has been paid for the dutiable transaction that is the creation of the trust of the property; or - (b) the dutiable transaction that is the creation of the trust of the property is exempt from transfer duty. - (a) the trustee has paid transfer duty for the acquisition of the property; or - (b) the dutiable transaction that is the acquisition of the property is exempt from transfer duty; or - (c) duty is not imposed on the acquisition of the property by the trustee. - (a) transfer duty has been paid for the dutiable transaction that is the termination of the trust of the property; or - (b) the dutiable transaction that is the termination of the trust of the property is exempt from transfer duty.