tumblr visit counter

SMSF Updates

SMSF custodian trust (bare trust) needs to be stamped in NSW

15 Jul, 2019

If you borrow to purchase an investment property, a custodian trust or bare trust deed must be set up to hold the title of the property.

Some states and territories may not require you to stamp the custodian trust or bare trust deed.

However, in NSW, the custodian trust or bare trust deed needs to stamped when you borrow to purchase an investment property in your SMSF.

Revenue NSW does not allow agent to duty stamp bare trust deed, therefore you need drop the required documents to one of the Revenue NSW offices or post them using registered mail or express post.

The duty is $500.

You will need to collect the documents as below:

  • signed bare trust deed
  • signed full copy of SMSF trust deed
  • copy of the contract of sale for the property being purchased
  • bank statements showing the full SMSF name
  • copy of loan offer or agreements
  • purchase declaration form – ODA 076 I  or ODA 076 NI.

To make sure the deed is stamped properly, you may need to seek professional assistance.

Should you have any questions or need any assistance, please feel free to contact us on 03 9557 4079 or by email info@icaresuper.com.au

 

Enquiry Now

Enquiry Now