Section 90L Family Law Act exemption (financial agreements) interactive help

Exempt

Based on the information that you have provided, this transaction is exempt under section 90L of the FLA.

Next steps

For audit purposes, you must keep:

• the agreement or a certified copy of it
• a copy of the instrument (evidencing the transaction)
• a separation declaration, if not contained within the agreement
• statement of legal advice
• 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 90L of the FLA.

Next steps

Duty must be assessed on the unencumbered value of the property and transfer duty rates will apply.

For audit purposes, you must keep:

• the agreement or a certified copy of it
• a copy of the instrument (evidencing the transaction)
• a separation declaration if not contained within the agreement
• evidence of value
• 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 90L of the FLA.

Next steps

Duty must be assessed on the unencumbered value of the property and transfer duty rates will apply.

For audit purposes, you must keep:

• a copy of the instrument (evidencing the transaction)
• evidence of value
• 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:

Further information required

If you can obtain a separation declaration, you may be able to self assess this transaction.

Next steps

Once you have the separation declaration, complete this interactive form again and answer 'Yes' to the question: Does the financial agreement contain a separation declaration?

If you cannot obtain a separation declaration, this transaction will not satisfy the exemption requirements.

Duty must be assessed on the unencumbered value of the property and the transfer duty rates will apply.

Your file reference:

Client name:

Transaction number:

Name:

Date:

Further information required

If you can obtain a copy of the legal practitioner's statement, you may be able to self assess this transaction.

Next steps

Once you have the statement, complete this interactive form again and answer 'Yes' to the question: Has a legal practitioner provided each of the parties with a statement of legal advice?

If you cannot obtain the statement, this transaction will not satisfy the exemption requirements.

Duty must be assessed on the unencumbered value of the property and transfer duty rates will apply.

Your file reference:

Client name:

Transaction number:

Name:

Date: