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Particular vestings exemption (s.125)

Particular vestings exemption (s.125) interactive help

This interactive tool will help you determine if a transaction is exempt from duty under s.125 of the Duties Act.

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Certain vestings of dutiable property are exempt from duty under section 125 of the Duties Act 2001.

Refer to the toolkit for guidance.

Answer the following questions to determine if an exemption applies to the transaction you are self assessing.

Is there a vesting of dutiable property on a statutory trust for sale or partition under Part 5 of the Property Law Act 1974?

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.

This means that the property has been put into the name of the trustees as legal owners so that they can sell the property. Refer to the Property Law Act 1974.

Is there a vesting of dutiable property in a receiver or trustee in bankruptcy?

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.

A receiver or trustee in bankruptcy is someone who is appointed to manage the affairs of a person who has been declared bankrupt.

Will the property be transferred back to the bankrupt person after they are discharged from bankruptcy?

Does more than 1 person own the property?

Is there a sealed court order?

Is the document (Form 14 general request, transfer etc.) made in accordance with the court order?

Do you have a copy of the National Personal Insolvency Index?

Read about the National Personal Insolvency Index.

Do you have a copy of the discharge from bankruptcy?

Is the document (Form 14 general request, transfer etc.) made in accordance with section 125 of the Duties Act?

Not exempt

Based on the information that you have provided, the transaction is not exempt under section 125 of the Duties Act 2001.

Next steps

Duty must be assessed on the unencumbered value

Unencumbered value

Transfer duty

The value of the property being transferred disregarding any encumbrance; for example, money owed under a mortgage. See section 14 of the Duties Act 2001 for a full definition.

of the property and the transfer duty rates will apply.

For audit purposes, you must keep:

a copy of the stamped documents
a completed dutiable transaction statement (Form D2.2)
an identity details annexure (if applicable)
evidence of value.

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 125 of the Duties Act 2001.

Next steps

For audit purposes you must keep:

a copy of the stamped documents
a copy of the sealed court order
a completed dutiable transaction statement (Form D2.2)
an identity details annexure (if applicable).

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 125 of the Duties Act 2001.

Next steps

For audit purposes you must keep:

a copy of the stamped documents
a copy of the National Personal Insolvency Index and details of trustee in bankruptcy or discharge from bankruptcy
a copy of the statutory declaration required for the Department of Resources (if applicable)
a completed dutiable transaction statement (Form D2.2)
an identity details annexure (if applicable).

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 125 of the Duties Act 2001.

Next steps

Duty must be assessed on the unencumbered value

Unencumbered value

Transfer duty

The value of the property being transferred disregarding any encumbrance; for example, money owed under a mortgage.

See section 14 of the Duties Act 2001 for a full definition.

of the property and the transfer duty rates will apply.

For audit purposes, you must keep:

a copy of the stamped documents
a copy of the sealed court order
a completed dutiable transaction statement (Form D2.2)
an identity details annexure (if applicable)
evidence of value.

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

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Transfer duty
Self assessors
Businesses, trusts and investors
Insurance duty
Vehicle registration duty
Private rulings for duties
Public rulings and practice directions
Payment options
Definitions