Superannuation fund exemption (s. 119) toolkit

This toolkit brings together everything you need to know about self assessing trust acquisitions or surrenders in superannuation funds.

Under section 119 of the Duties Act 2001, an acquisition or surrender of a trust interest in a superannuation fund is exempt from transfer duty, but only for transactions that provide superannuation benefits for the member. This exemption applies to transactions where a person:

  • joins a fund
  • increases their investment in the fund
  • ends their membership in the fund.

The exemption also applies where the acquisition or surrender results from the trustee distributing benefits to the dependants or other beneficiaries of a deceased member.

As a registered self assessor, if you determine that this exemption will apply to a transaction, you must self assess it in OSRconnect.

Assessing a superannuation fund trust acquisition or surrender exemption

Use the section 119 superannuation fund interactive help to determine if you should apply this exemption to a transaction.

You can also see the step-by-step procedure for applying this exemption in OSRconnect.

Read our endorsing examples if you are unsure how to stamp the documents for this exemption.

Records you need to keep

For this type of transaction, you must keep:

Find out more about your record-keeping obligations.

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.