Has anyone in NSW stamped their bare trust recently?
On my first SMSF property purchase, I had a city law firm stamp my bare trust and also stamp an non-dated transfer of land document (01T). It was $50 for each ($100 in total) and they charged me $1,820 as their fee. The service was not exceptional. The job was done but it took them 3 months and they were not quick to reply to phone calls or emails from me. Worst of all, I sent them my original SMSF trust deed, which they didn't need but which they lost.
I just purchased another SMSF property and I am thinking of organising the bare trust and transfer of land to be stamped on my own. I have the previous statutory declaration and can generate the 01T transfer of land form from the LPI website. I would just substitute the names of the new bare trust, bare trustee, SMSF fund, SMSF trustee and property address.
Has anyone done this on their own?
I called the OSR and they have told me the cost has gone up from $50 to $500 (ten fold increase) to have the bare trust stamped. They now quote 3 weeks for the stamping process.
I presume the cost to the 01T transfer form stamped is also $500 now?
Looking on Google, apparently this increased cost is part of the State Revenue Legislation Further Amendment Bill 2014.