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Superannuation fund exemption (s.119)

Superannuation fund exemption (s.119) interactive help

This s.119 superannuation fund interactive tool will help you to determine if you should apply this exemption to a transaction.

Topics on this page

Interactive help pages

Additional foreign acquirer duty residential land
Aggregated transactions (s.30)
Change of trustee exemption (s.117)
Correcting a clerical error exemption (s.152)
De facto relationship instruments (s.422(a))
De facto relationship instruments (s.422(c))
Deceased person’s estate exemption (s.124)
Family business concession—prescribed business (s.105A)
Family business concession—primary production (s.105)
Family trust exemption (s.118)
Other transfers of eligible superannuation entities exemption (s.130B)
Particular residences exemption (s.151)
Particular vestings exemption (s.125)
Section 90 Family Law Act exemption
Section 90L Family Law Act exemption (court orders)
Section 90L Family Law Act exemption (financial agreements)
Section 90WA Family Law Act exemption (court orders)
Section 90WA Family Law Act exemption (financial agreements)
Security trust exemption (s.121)
Superannuation fund exemption (s.119)
Transfer by direction to superannuation custodian exemption (s.130A)
Unincorporated association trust exemption (s.120)
Variation of a trust

Under section 119 of the Duties Act 2001, certain acquisitions and surrenders of a trust interest in a superannuation fund are exempt from transfer duty.

Refer to the toolkit for guidance.

Answer the following questions to determine if your transaction is exempt.

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 (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.

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:

Last updated: 29 November 2024

Interactive help pages

Additional foreign acquirer duty residential land
Aggregated transactions (s.30)
Change of trustee exemption (s.117)
Correcting a clerical error exemption (s.152)
De facto relationship instruments (s.422(a))
De facto relationship instruments (s.422(c))
Deceased person’s estate exemption (s.124)
Family business concession—prescribed business (s.105A)
Family business concession—primary production (s.105)
Family trust exemption (s.118)
Other transfers of eligible superannuation entities exemption (s.130B)
Particular residences exemption (s.151)
Particular vestings exemption (s.125)
Section 90 Family Law Act exemption
Section 90L Family Law Act exemption (court orders)
Section 90L Family Law Act exemption (financial agreements)
Section 90WA Family Law Act exemption (court orders)
Section 90WA Family Law Act exemption (financial agreements)
Security trust exemption (s.121)
Superannuation fund exemption (s.119)
Transfer by direction to superannuation custodian exemption (s.130A)
Unincorporated association trust exemption (s.120)
Variation of a trust