Deceased estates - exemption - will and intestacy (broad accordance)

Circumstances/Transactions:

Entitled under a will or intestacy. A transfer made to a beneficiary in accordance with the terms of the will of the deceased for no consideration. 

Evidence:

1. Digital Duties Form.
2. A copy of the grant of probate sealed by the Supreme Court or the County Court with copy of the will attached, or
3. If there was no will, a copy of the letters of administration, and the affidavit lodged with the Supreme Court when letters of administration were obtained.
4. If the distribution and entitlement is not clear from the will or results from an intestate estate, provide:
   1. The inventory of the assets and liabilities of the deceased estate, listing each property and their respective value and the existence of any encumbrance over property.
   2. The distribution statement prepared by the executor or administrator.
5. Evidence of the value of all the properties at the date of the transfer, by one of the following:
   1. A letter of appraisal from a licensed real estate agent and a copy of the relevant rates notice, or
   2. A valuation by a certified practising valuer who is a member of the Australian Property Institute (API) or from a member of the Real Estate Institute of Victoria with sworn valuer accreditation.
6. A statutory declaration by the executor or administrator of the estate stating:
   1. The capacity of the person making the declaration.
   2. The name and date of death of the deceased.
   3. How the transferee is a beneficiary pursuant to the terms of the will or the laws of intestacy.
   4. Whether any consideration has passed between the parties.
   5. Whether the value of the real property exceeds the transferees’ entitlement pursuant to the terms of the will or the laws of intestacy.
7. A copy of any relevant agreement between the parties, such as:
   1. Any deed of family arrangement made between the parties.
   2. Any deed of settlement made between the parties.
   3. Any deed of disclaimer by a beneficiary.
   4. Any deed of surrender by the life tenant and the remainder tenant.

See Revenue Ruling DA-051 - Transfer of dutiable property from a deceased estate.