A concession may apply to:
- transfer of dutiable property between superannuation funds to merge or split superannuation funds
- creating a trust of dutiable property because of the variation or reconstitution of a superannuation fund.
The concession depends on whether the superannuation fund will become a complying superannuation fund within one year.
What is a complying superannuation fund?
- A complying superannuation fund under the Superannuation Industry (Supervision) Act 1993 (Cwlth), section 42 or 42A
- an exempt public sector superannuation scheme under that Act.
Claiming the concession?
Please complete Dutiable transaction statement—transfer duty—Form 2.2 (PDF 410 K) and lodge it with:
- an explanation of the background to the dutiable transaction and the entitlements, if any, to be extinguished or created
- copies of the governing rules of the superannuation funds and any proposed amendments to the rules
- a statement of the dutiable property that is the subject of the transaction
- a copy of each instrument relating to the transaction
- a statutory declaration from a trustee of each of the superannuation funds concerned stating that, in the trustee’s opinion, the fund will be a complying superannuation fund within 1 year after the transaction.
How much duty is paid?
Where the concession is granted, transfer duty is $20.00.
Not complying within one year?
Notify us within 28 days of the first anniversary of the transaction.
Complete Notice for reassessment—superannuation fund transfer duty concession/exemption—Form 2.6 (PDF 210 K) and lodge it with the original documents on which the concessional duty was paid. We will reassess transfer duty on the transaction as if the concession had never applied.
