Obligations for transfer duty self assessors

You have certain obligations to fulfil as a registered transfer duty self assessor. Meeting these obligations will help you avoid delays in completing assessments, reassessments, interest and penalties.

Record keeping requirements

You must keep all information used in assessing a person's transfer duty liability for a minimum of 5 years following the transaction.

We accept electronic records for audit purposes; however, you must keep the original documents because it is an offence to destroy a record, even if it has been duplicated.

Find out more about record keeping for tax purposes.

Cancellation of registration

Complete a notice for cancellation of self assessor registration (Form D12.4). You can also use this form to notify us within 14 days of ceasing to carry on a business.

In most cases, changes in ownership to your business will require your registration to be cancelled. If so, you will need to lodge a new application for registration.

Offences and penalties

We may take legal action or penalise you if you commit any of the following offences:

  • endorsing a document without the full payment (inclusive of duty and any unpaid tax interest and/or penalty) being received by either you or the Commissioner of State Revenue
  • endorsing a document incorrectly or illegibly
  • endorsing the document with false or misleading information
  • registering a document relating to an interest in property without properly stamping and endorsing the document
  • failing to comply with the record keeping provisions
  • wilfully damaging or destroying records.

Penalty amounts imposed are the greater of:

  • no more than 75% of the amount of duty payable for the transaction
  • or
  • $100.

You are entitled to apply for a review of any decision to impose a penalty. Find out more about reviews of objection decisions.

Also consider...

Contact

Office of State Revenue
For transfer duty self assessment queries:

For queries on payroll tax, land tax and royalties:

  • call 1300 300 734 (Australia) or +61 7 3179 2500 (overseas)
  • send an email using our online enquiry form.