Variation of a trust interactive help

Varying the terms of a trust may constitute a trust acquisition or surrender and be subject to transfer duty.

You do not have to lodge the document with us for endorsement when any of the below apply:

• The trust does not hold dutiable property.
  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 (e.g. furniture, other freestanding moveable items) in Queensland.

  Chattels are only dutiable if the transaction either:

  • includes another type of dutiable property
  • is aggregated with a transaction for another type of dutiable property.

  Read section 10 of the Duties Act 2001 for more on property types.
• The trust does not have an indirect interest
  Indirect interest

  For partnerships, an interest held in dutiable property if:

  • through a partnership interest or trust interest, there is a connection between the partnership and dutiable property of the other partnership or trust
  • through a series of partnership interests or trust interests, or a combination of these, there is a connection between the partnership and dutiable property of a partnership or trust in the series.

  For trusts, an interest held in dutiable property if:

  • through a trust interest or partnership interest, there is a connection between the trust and dutiable property of the other trust or partnership
  • through a series of trust interests or partnership interests, or a combination of these, there is a connection between the trust and dutiable property of a trust or partnership in the series.

  For corporate trustees, an interest held in dutiable property if:

  • the corporate trustee has a partnership interest or trust interest in an ultimate entity
  • through a series of partnership interests or trust interests, or a combination of these, there is a connection between the corporate trustee and dutiable property of a partnership or trust in the series.
   in dutiable property.
• The variation of the terms of the trust is administrative in nature (e.g. alterations to rules, standard conditions and general clauses).

Answer the following questions to determine if a variation of trust is dutiable.

Does the trust hold dutiable property or an indirect interest in dutiable property in Queensland?

• Yes
• No

Is the variation of the trust solely for general administrative reasons?

• Yes
• No

Examples: changing the name of the trust, amending governing rules, changing appointer or principal, changing the power of trustee or borrowing power of trustee

Is the variation to the trust a change in the beneficial interest in the trust?

• Yes
• No

Examples: adding or deleting a beneficiary or class of beneficiaries, changing the rights or interest held by the beneficiaries

No duty payable

Based on the information you provided, the transaction is not liable for duty and does not require an endorsement.

Next steps

You may lodge the documents directly with Titles Queensland.

File reference:

Name:

Date:

Do not self assess

The variation of trust cannot be self assessed.

Next steps

Please forward the deed of variation and original trust deed to our office.

Submit