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eRevenue Queensland issue 18, September 2009
Abolition of the Queensland Fuel Subsidy Scheme
The Queensland Fuel Subsidy Scheme was abolished on 30 June 2009.
Important dates for retailers:
| 14 July 2009 |
Final claims are now overdue Any outstanding forms for previous months must be lodged on separate forms |
| 1 August 2009 | Annual return for 2008-2009 is now overdue |
Important dates for bulk end users (BEUs):
| 1 September 2009 | Annual return for 2008-2009 is now overdue (for BEUs who were provisionally paid for 2008-09 only) |
We will not accept any claims received after 30 September 2009. Any unreconciled provisional payments must be repaid.
Contact us on 1800 814 657 or visit our website at www.osr.qld.gov.au for more information.
OSRconnect has now been online for over a month!
For more support or information about OSRconnect, please:
- call our Client Contact Centre on 1300 300 734
- email us at dutiessupport@osr.treasury.qld.gov.au to request a visit from our Client Engagement Officers
- visit our website (www.osr.qld.gov.au).
Section 30—Aggregations
Are you aware of the aggregation provisions contained in the Duties Act 2001 and how to apply them when making a self assessment?
Over 50% of all transaction errors identified during the 2008 / 2009 audit program related to Section 30 aggregation issues.
See aggregation of dutiable transactions for more information.
Top 5 duties self assessing tips
- Record keeping requirements—what to keep, what to send?
- Save as draft to get a transaction number
- Transfer of partial interests—what consideration should be used?
- Interest acquired—percentage or fraction?
- Completing payment information fields on Form 12.6
1. Record keeping requirements—what to keep, what to send?
If you lodge through OSRconnect, do not send:
- a covering letter
- a copy of the Form 12.6
- a copy of the transfer and contract
- a Form 2.1.
Please only send the lodgment confirmation page and payment if you lodge through OSRconnect.
If you are paying electronically, or if you have a nil assessment, you do not need to send us anything.
If you are a paper lodger, you must send us a fully completed Form 12.6 for each transaction, together with payment (if applicable).
All self assessors must keep copies of documents, valuations and approved forms for a minimum of 5 years.
2. Save as draft to get a transaction number
You only need to enter a small amount of information (e.g. your client reference number) to get a transaction number. Once you have entered this information, press ‘save as draft’, and your transaction number will appear in the top left hand corner of the screen after the transaction has been saved.
3. Transfer of partial interests—what consideration should be used?
If a partial interest is being transferred, whether between related parties or not, the full unencumbered value of the entire property must be entered.
4. Interest acquired—percentage or fraction?
In OSRconnect, interest acquired is shown as a percentage—to transfer a whole share, you will need to input 100%. This is different to the calculator, which uses fractions—to transfer a whole share, you will need to input 1.
5. Completing payment information fields on Form 12.6
When entering payment information in the Form 12.6, do not enter the amount of duty for the current transaction in the ‘Less duty payable on option agreement field’. Only use this field if you have already taken duty on an option agreement which has been paid for in another transaction.
This applies to both online and paper lodgers.
Payroll tax top tips for self assessors
- Lodging periodic returns
- Fixed periodic deduction
- Printing lodgement confirmation
- Checking and calculating form data
- Saved returns
1. Lodging periodic returns
As recently advised, the method of accounting for your periodic return liability changed from 1 July 2009. To comply with your return obligations, you must now use OSRconnect each month to advise the breakdown of your payment between primary tax and assessed interest as well as provide apprentice wages used to claim the apprentice rebate.
Your lodgement and payment for the August 2009 return period is due by 7 September 2009.
2. Fixed periodic deduction
From 1 July 2009, you no longer have to notify us of your fixed periodic deduction.
Use our online calculator to calculate your fixed periodic deduction. Note this amount and enter it as your deduction entitlement when completing your periodic returns in OSRconnect.
See deductions for more information.
3. Printing lodgement confirmation
Some clients have reported problems with the print buttons in OSRconnect.
Where the print buttons in the system are only generating blank pages, please click your right mouse button and then select ’print’ from the list of options displayed.
Alternatively, press Ctrl + P.
Either of these options will print of a copy of your lodgement and/or payment confirmation for you.
4. Checking and calculating form data
Select the Check form data button after you have completed all mandatory fields in OSRconnect. This function checks the form for you and performs all calculations.
Once you are sure the details and calculations are correct, you can submit the form.
5. Saved returns
We have noticed that a number of clients have saved their completed return as a draft in OSRconnect, but have not submitted it.
To avoid lodging your return late, and being charged unpaid tax interest (UTI), you should check your Task Overview tab in OSRconnect. If there are any draft returns in your overview screen, please review them before submitting.
