Who pays and which trusts are covered
The rule covers identifiable beneficiaries with vested beneficial ownership in residential property transferred to bare trust from 10 May 2022. If renunciation occurs within the relevant SSD holding period, the beneficiary can owe SSD. The settlor owes BSD and any applicable ABSD on the returned interest, using the settlor’s profile. Historical examples do not establish current ABSD rates.
Notice and payment sequence
Serve the completed Section 22C Notice on both settlor and Commissioner within 14 days of renunciation, with the trust instrument. The settlor must seek assessment within 14 days of receipt or 14 days after the prescribed period ends, whichever is earlier. Use the desktop Stamp Duty request service and attach both documents. Market value is determined at timely service of the notice on the Commissioner.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
Read the official source ↗