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Sections: s38a

Lodgement category: SRO

Circumstances/Transactions:

A transfer of dutiable property to the trustee of a special disability trust (SDT) for no consideration.

Where the dutiable value of the property subject to the transfer exceeds $500,000, duty is chargeable only in respect of the dutiable value of the property exceeding $500,000.

If the dutiable property is not gifted by an immediate family member, this exemption does not apply. 

Evidence:

For a transfer of land the following evidence is required:

  1. The Digital Duties Form.
  2. The original executed transfer of land form or a letter from Centrelink confirming the beneficiary and SDT's current eligibility status.
  3. The original or a copy of the duly stamped SDT trust deed together with any subsequent amendments.
  4. A statutory declaration by the trustee declaring the following:
    • Whether the transfer is part of a sale or other arrangement under which consideration passed between the transferor and the trustee of the SDT.
    • Whether the dutiable property was gifted by an immediate family member of the principal beneficiary, and if so, identify their relationship to the principal beneficiary.
    • Whether the value of the dutiable property transferred exceeds $500,000.
  5. Evidence of the value of the property as at the date of the transfer, by one of the following:
    • A valuation by a certified practicing valuer who is a member of the API or by a member of the REIV with sworn valuer accreditation.
    • A letter of appraisal from a licensed real estate agent and a copy of the relevant rates notice.