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Sections: s38A

Lodgement category: Complex declaration of trust over non-dutiable property

Circumstances/Transactions:

A declaration of trust that establishes a special disability trust or a transfer of dutiable property for the same purpose for no consideration.

Where the dutiable value of the property that is a subject of the declaration exceeds $500,000, duty is chargeable only in respect of the dutiable value of the property that exceeds $500,000.  If the dutiable property is not gifted by an immediate family member, this exemption does not apply. 

Evidence:

For a declaration of trust, the following evidence is required:

  1. The original executed special disability trust (SDT) deed.
  2. A letter from Centrelink confirming the beneficiary and SDT's current eligibility status.
  3. A statutory declaration by the trustee declaring the following:
    • Whether the creation of the SDT involved declaring a trust over any dutiable property and if so:
      • state whether the dutiable property held by the trust was gifted by an immediate family member, and if so, identify their relationship to the principal beneficiary, or
      • state whether any consideration passed between the trustee of the SDT and the other party, and
      • whether the value of any dutiable property held by the trust exceeds $500,000.
         
  4. Evidence of the value of the property (other than cash) held by the special disability trust (if any) as at the date of the declaration, by one of the following:
    • a letter of appraisal from a licensed real estate agent and a copy of the Rate Notice, or
    • a valuation by a certified practising valuer who is a member of the API or by a member of the REIV with sworn valuer accreditation. 


Lodge documents after settlement directly with the State Revenue Office
Last modified: 4 October 2021
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