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

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 stamp duty for the bare trust in NSW is $500.

We can help you stamp the bare trust deed for $550 plus $500 stamp duty reimbursement. This will save you time and also avoid future compliance issues or any tax implications.

You will need to provide the following documents to us:

• 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
• purchaser declaration form – ODA 076 I  or ODA 076 NI
• Evidence of stamp duty paid on contract.

To make sure the deed is stamped properly, it is recommended 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