Property passing to beneficiaries of superannuation funds

Circumstances/Transactions:

A transfer of property from a superannuation fund (the trust/fund) to a beneficiary of the fund where the value of the property does not exceed the beneficiary's interest in the fund.

The exemption only applies to the extent of a beneficiary's entitlement to the property of the trust. 

Evidence:

1. Use the Digital Duties Form.

If applicable, and if not applicable state why, the following must be produced:

1. A copy of the superannuation fund trust deed together with any subsequent amendments, or
2. In relation to any trust deed for which a copy of the original deed cannot be produced:
   1. A statutory declaration declaring what steps have been taken to locate the original trust deed made by a person having knowledge of those steps. Attach any unstamped copy of the trust deed, if available, and explain how it was obtained.
   2. Copies of financial statements and income tax returns of the trust for the last 3 financial years showing whether the property was dealt with as an asset of the trust.
   3. Any other material showing that the property is an asset of the trust, for example:
      1. a copy of the contract of sale for purchase of the property by the trustee showing capacity as trustee of the trust,
      2. if the trustee is a corporation, minutes of a directors meeting resolving that the trust acquire the property,
      3. if the trustee is a corporation, minutes of a directors meeting resolving to accept appointment as trustee of the trust.
3. A copy of the historical certificate of title.
4. If the property's title particulars have changed since the relevant time, provide copies of the parent titles and the plan of subdivision or consolidation showing how the current title particulars were derived from the parent title.
5. Evidence of the value of the property being transferred to the transferee, by one of these methods:
   1. A letter of appraisal from a licensed real estate agent and a copy of the rate notice.
   2. A valuation by a certified practising valuer who is a member of the Australian Property Institute (API) or by a member of the Real Estate Institute of Victoria (REIV) with sworn valuer accreditation.
6. The member accumulation account statement showing the transferee's entitlement.
7. A statutory declaration by the trustee of the fund, addressing the matters set out below, where applicable. If any paragraph is not applicable, please state why:

1. ​State whether the transfer is to the beneficiary entitled.

Capacity of Trustee

2. State whether the Trustee has held the property in any other capacity, and if so explain in what other capacity they acted.
3. Identify the provision of the fund under which the trustee has the power to distribute capital to the beneficiaries.
4. State the date the property first became an asset of the trust.
5. Identify the provision of the trust deed under which the transferee was a beneficiary at the time the property first became an asset of the fund.
6. If the transferee is not named as a beneficiary in the trust:
   1. explain how the transferee is considered to be a beneficiary of the fund,
   2. identify the class of beneficiary that they fall into under the fund, and
   3. when they became a beneficiary of the fund.

Beneficiary's entitlements

7. State the value of the transferee's entitlement under the fund at the date of transfer.
8. State how the beneficiary has become entitled to this distribution and state the provision in the fund under which they are entitled.
9. State whether the value of the property received by the transferee exceeds their entitlement in the fund and, if so, by how much.
10. State whether the beneficiary is acting in their own capacity.