NSW Torrens Assurance Levy Repealed
14 June 2011
The Real Property Amendment (Torrens Assurance Levy Repeal) Act 2011 commences on 1 July 2011 and abolishes the Torrens Assurance levy from that date.
The transitional provisions provide that the levy will still be payable in relation to transfers executed to give effect to a contract for the sale of land entered into on or after 1 July 2010 but before 1 July 2011 and lodged for registration on or after 1 July 2011 as if the relevant provisions had not been repealed.
The Real Property Amendment (Torrens Assurance Levy Repeal) Act 2011 commences on 1 July 2011 and abolishes the Torrens Assurance levy from that date.
The transitional provisions provide that the levy will still be payable in relation to transfers executed to give effect to a contract for the sale of land entered into on or after 1 July 2010 but before 1 July 2011 and lodged for registration on or after 1 July 2011 as if the relevant provisions had not been repealed.