Transfer duty on resource authorities
Transfer duty is charged on transactions involving resource authorities.
Resource authorities include:
- authorities to prospect
- exploration permits, prospecting permits, mining claims, mineral development licences and mining leases
- geothermal exploration permits
- greenhouse gas (GHG) exploration permits.
Land in Queensland is dutiable property, which includes resource authorities. An agreement to transfer a resource authority or a transfer of a resource authority are dutiable transactions to which transfer duty applies.
Lodging a resource authority transaction
To lodge a transfer or an agreement to transfer a resource authority, we require the following:
- a dutiable transaction statement (Form D2.2)
- the agreement or, if there is no agreement, the Department of Natural Resources, Mines and Energy transfer document (e.g. Form MMOL-05, Form MM0L-05A)
- a transfer duty statement (Form D2.3) if you do not have a transfer document or agreement
- the consideration for the transaction
- independent evidence of value of the resource authority (e.g. a valuation prepared by a registered valuer or person the Commissioner is satisfied is properly qualified) when
- the consideration is nominal or nil
- the parties are related
- the consideration cannot be determined at the time the agreement is made
- the unencumbered value is higher than the consideration.
An agreement to transfer a resource authority must be lodged within 30 days after the agreement is made. If the agreement is conditional, you may request an extension of time to lodge - read the public ruling on extending time to lodge an agreement (DA019.1) for more information.
Where there is no agreement, the transfer document must be lodged within 30 days after the document is executed.
- Last reviewed: 14 May 2020
- Last updated: 6 Jul 2020