Change of trustee exemption (s. 117) toolkit
This toolkit brings together everything you need to know about self assessing transfer duty on transactions that effect a change of trustee.
Under section 117 of the Duties Act 2001, a transaction that effects a change of trustee is exempt. As a registered self assessor, if you determine that section 117 will apply to a transaction, you must self assess it in OSRconnect.
The exemption will apply if transfer duty has been paid on all dutiable trust acquisitions or trust surrenders before the transaction, and the transaction does not:
- change the rights or interests of a beneficiary of the trust
- terminate the trust.
If the transaction does change the rights or interests of a beneficiary of a trust, it may still be exempt from duty if all of the following apply:
- Transfer duty has been paid on all trust acquisitions or trust surrenders made
- before the transaction
- under the transaction.
- The change of trustee is not part of an arrangement to avoid paying duty.
Assessing a change of trustee exemption
Use the section 117 interactive help to determine if you should apply a change of trustee exemption to a transaction.
Read step-by-step instructions for applying the change of trustee exemption to a transaction in the:
If you have both a deed and a transfer that show the change of trustee, you must enter each document separately in OSRconnect (i.e. each document will receive its own transaction number). The transfer is not pursuant to the deed under section 22(2), because the deed doesn't contain details in relation to the land.
Read our endorsing examples if you are unsure how to stamp the documents for this exemption.
When a transaction includes real property, each transferor and transferee must declare whether they are a non-Australian entity.
A non-Australian transferor or transferee must complete an identity details annexure.
For transferors, an electronic annexure is generated through OSRconnect. Select the email option when entering the transferor's email address. Contact us for help if you cannot obtain the transferor's email address.
Transferees must complete an identity details annexure and you must enter these details in OSRconnect.
Records you need to keep
For this type of transaction you must keep:
- a completed dutiable transaction statement (Form D2.2)
- a completed statutory declaration, depending on whether interests or rights of beneficiaries are changing
- a copy of the deed or other document showing the change of trustee
- an identity details annexure for each non-Australian transferee, if the transaction involves real property.
Find out more about your record-keeping requirements.
- Last reviewed: 20 Mar 2019
- Last updated: 29 Sep 2017
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