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:
- a completed dutiable transaction statement (Form D2.2)
- a copy of the original superannuation fund trust deed
- a copy of any subsequent amending deeds
- copies of any other superannuation documents.
Find out more about your record-keeping obligations.
- Last reviewed: 20 Mar 2019
- Last updated: 10 Nov 2016
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- email email@example.com.
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