Surrender of lease exemption

When you have a lease over land in Queensland, the lessor can grant you a new lease even when time remains on an existing lease. However, before you can enter into the new lease, you have to give up (surrender) the existing one.

You don’t pay duty on the surrender of a lease of land in Queensland if either:

• there is no premium, fine or other consideration
  Consideration

  Transfer duty

  Generally, the Australian dollar value paid for property in property transfers.

  Consideration includes monetary and non-monetary payments, such as assumption of liabilities.

  See section 12 of the Duties Act 2001 for a full definition.

  paid or payable for the surrender
• any premium, fine or other consideration paid or payable for the surrender is paid by the lessor.

How to claim

To claim an exemption, you need to lodge:

• your transaction documents
• a dutiable transaction statement (Form D2.2)
• a covering letter outlining the documents you have lodged, your name and return address.

See how to lodge documents for assessment.

Also consider…

• See the surrender of lease toolkit if you’re a registered self assessor.
• Read section 147 of the Duties Act 2001.
• Learn about lodging and stamping documents.