Bare trust deed stamp in QLD

Hi all

I just went unconditional on a SMSF purchase in Caboolture and not getting a straight answer from solicitor on the process about if it is required to stamp the deed of the Bare trust or not and what is the process for it?

thanks
Daniel

 

The Revenue Amendment and Trade and Investment Queensland Act 2013 (assented to 12 June 2013) made the amendments to sections 130A and 130B of the Duties Act 2001 (Qld) to give effect to this stamp duty exemption on transfers of dutiable property from 26 October 2011. Importantly, the transfer of dutiable property back to the SMSF on repaymnet of the debt is only exempt from duty where the property is an "acquirable asset" that was held on trust by the custodian (that is, the bare holding trust) in compliance with section 67A(1)(a) of the SIS Act and transferred directly to the trustee of the SMSF. Your custodian trust deed will be required to prove that matter.

 

Thanks, that’s aligned to my understanding too