Duties Regulation 2022 (NSW)

1Name of Regulation

This Regulation is the Duties Regulation 2022.

2Commencement

This Regulation commences on the day on which it is published on the NSW legislation website.

3Definition

In this Regulation—

the Act means the Duties Act 1997.

Note—

The Act and the Interpretation Act 1987 contain definitions and other provisions that affect the interpretation and application of this Regulation.

4Excluded transactions(1)

For the Act, section 8(3) definition of excluded transaction, paragraph (k), the following transactions are prescribed—

• (a)

  a change in default beneficial interests under a discretionary trust, including the following—

  • (i)

    a change to the default beneficial interests of the default beneficiaries,

  • (ii)

    the addition or removal of a default beneficiary,

• (b)

  a change in beneficial ownership of dutiable property that occurs—

  • (i)

    under a testamentary instrument or the laws of intestacy, or

  • (ii)

    otherwise by operation of law on the death of a person,

• (c)

  the grant or termination of a life estate in dutiable property for no consideration,

• (d)

  the variation or surrender of an easement for no consideration,

• (e)

  the grant, creation, variation or extinguishment of a mortgage, charge or other security over land,

• (f)

  the creation, variation or surrender, for no consideration, of a tenant’s interest in fixtures that are fit-out for commercial premises,

• (g)

  a change in tenancy under a lease for no consideration,

• (h)

  a change, for no consideration, in the holding of property—

  • (i)

    from joint tenants to tenants in common in equal shares, or

  • (ii)

    from tenants in common in equal shares to joint tenants,

• (i)

  the grant, variation, cessation, revocation or cancellation of a water right,

• (j)

  the expiry, extinguishment or merger of one or more leases for no consideration,

• (k)

  the variation or extinguishment of a profit a prendre for no consideration,

• (l)

  the surrender of a security interest for no consideration,

• (m)

  a transaction that results in an increase in a person’s interest in dutiable property under an agreement, relating to the dutiable property, entered into between the person and the State under a shared equity scheme.

(2)

In this section—

security interest has the same meaning as in the Personal Property Securities Act 2009 of the Commonwealth.

shared equity scheme has the same meaning as in the First Home Owner Grant and Shared Equity Act 2000, section 24B.

water right has the same meaning as in the Valuation of Land Act 1916.

s 4: Am 2022 (784), Sch 1[1] [2].

4AQualified investors

For the Act, section 157AB(1)(h1), the following statutory bodies are prescribed—

• (a)

  the Clean Energy Finance Corporation established by the Clean Energy Finance Corporation Act 2012 of the Commonwealth,

• (b)

  the Workers Compensation Nominal Insurer established by the Workers Compensation Act 1987, to the extent that it manages the Workers Compensation Insurance Fund.

s 4A: Ins 2025 (16), Sch 1[1].

5Transitional provision consequent on State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022

For the Act, Schedule 1, clause 1(3), this Regulation, section 4 is taken to have commenced on 19 May 2022.

6Provision consequent on Revenue Legislation Further Amendment Act 2024—the Act, Sch 1, cl 1

Section 4A, as inserted by the Duties Amendment (Qualified Investors) Regulation 2025, is taken to have commenced on 1 February 2024.

s 6: Ins 2025 (16), Sch 1[2].

Historical notesTable of amending instruments

Duties Regulation 2022 (489). LW 26.8.2022. Date of commencement, on publication on LW, sec 2.

2022	(784)	Duties Amendment (Excluded Transactions) Regulation 2022. LW 16.12.2022. Date of commencement, on publication on LW, sec 2.
2025	(16)	Duties Amendment (Qualified Investors) Regulation 2025. LW 31.1.2025. Date of commencement, on publication on LW, sec 2.

Table of amendments

Sec 4	Am 2022 (784), Sch 1[1] [2].
Sec 4A	Ins 2025 (16), Sch 1[1].
Sec 6	Ins 2025 (16), Sch 1[2].