Superannuation fund exemption (s.119) interactive help

Does the transaction transfer dutiable property (e.g. real estate or business assets) in Queensland?

Dutiable property

Property that is involved in a dutiable transaction in Queensland.

When you buy or sell dutiable property, you’re likely to pay duty. This can include:

land in Queensland
a transferable site area
an existing right
a Queensland business asset
a chattel in Queensland.

Read section 10 of the Duties Act 2001 for more on property types.

Does the transaction add or remove a trust interest for a superannuation fund member?

For example, a member joins, increases their investment or ends their membership in the fund.

Is the only purpose of the transaction to provide superannuation benefits for the member?

Is the transaction occurring as a result of the death of a member of the fund?

Is the trustee of the fund distributing benefits to the dependents or other beneficiaries of the deceased member?

Not exempt

Based on the information that you have provided, the transaction is not exempt under section 119 of the Duties Act 2001.

The exemption only applies for trust acquisitions or surrenders of a member’s trust interest in a superannuation fund. It does not apply to the transfer of property.

Next steps

For audit purposes, you must keep:

a completed dutiable transaction statement (Form D2.2)
a copy of the original superannuation fund trust deed
copies of any subsequent amending deeds
copies of any other superannuation documents.

You must keep all records for 5 years in accordance with section 118 of the Taxation Administration Act 2001.

Your file reference:

Client name:

Transaction number:

Name:

Date:

Not exempt

Based on the information that you have provided, the transaction is not exempt under section 119 of the Duties Act 2001.

The exemption only applies for trust acquisitions or surrenders of a member’s trust interest in a superannuation fund.

Next steps

For audit purposes, you must keep:

a completed dutiable transaction statement (Form D2.2)
a copy of the original superannuation fund trust deed
copies of any subsequent amending deeds
copies of any other superannuation documents.

You must keep all records for 5 years in accordance with section 118 of the Taxation Administration Act 2001.

Your file reference:

Client name:

Transaction number:

Name:

Date:

Exempt

Based on the information that you have provided, the transaction is exempt under section 119 of the Duties Act 2001.

Next steps

For audit purposes, you must keep a:

a completed dutiable transaction statement (Form D2.2)
a copy of the original superannuation fund trust deed
copies of any subsequent amending deeds
copies of any other superannuation documents.

You must keep all records for 5 years in accordance with section 118 of the Taxation Administration Act 2001.

Your file reference

Client name:

Transaction number:

Name:

Date: