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Transfer of existing rights toolkit

This toolkit brings together everything you need to know about self assessing duty on the transfer of an existing right. Self assessors must assess this type of transaction and lodge it through OSR Online.

Existing rights include rights for certain interests in land not identified by a regular lot and plan reference. They include transactions for:

  • statutory licences (e.g. transfer of an existing water allocation in Queensland) but not statutory business licences
  • marina berths
  • option agreements transferred between parties (including chattels)
  • leases or licences of business (not including franchise arrangements).

If the right you are assessing is an interest in land identified by a lot and plan reference (issued by the Department of Resources), it must be assessed as a transfer of non-residential or residential land.

Read the non-residential land toolkit or the residential land concession toolkit to find out more.

You can also read the public ruling on the right to income from dutiable property (DA010.1), which gives examples of how a right to income from dutiable property is also dutiable when it is transferred.

Schedule 6 (Dictionary) of the Duties Act 2001 defines 'existing right' for transfer duty purposes.

Assessing a transfer of existing rights

Here are some tips to help you self assess these types of transactions in OSR Online.

How to lodge online

You must complete all mandatory data fields under each tab in OSR Online. Mandatory fields are marked with a red asterisk. There are some specific data requirements.

  • Select Transfer – other than land as the Transaction Class.
  • In the Type of dutiable transaction drop-down list, select either:
    • Agreement to transfer dutiable property – for transactions evidenced by an agreement
    • Transfer of dutiable property – for transactions evidenced by a transfer only.
  • Select Existing right as the Type of dutiable property from the drop-down list.
  • Enter the details of the transaction in the Detailed description of property (other than land) field. This should include any serial or licence numbers and any other relevant information. (For example, for a lease or licence of a business, enter 'Business known as Acme Trading Services leased from ABC Pty Ltd'.)

Additional foreign acquirer duty

Additional foreign acquirer duty applies to all existing rights transactions that involve AFAD residential land.

Marina berths

When assessing the transfer of a marina berth, you should include the berth number and marina name details in the property description. (For example, marina berth 11 at Roslyn Marina.)

Option agreements

When assessing the transfer of an option agreement, you should include the original grantor name and the property details over which the option has been granted. (For example, option agreement to purchase lot 51 on RP25589 from DEF Pty Ltd.)

Read the toolkit for self assessing option agreements to find out more.

Water entitlements

When assessing the transfer of water entitlements, you should include the entitlement licence number, and the lot and plan details to which the entitlement is allocated. (For example, water allocation WA24 on CP MPH242050.)

Read the water allocations toolkit to find out more.

Non-Australian entity

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 email is automatically generated through OSR Online when the transaction is lodged, asking the transferor to complete an online identity details annexure. 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 OSR Online.

Records you need to keep

For this type of transaction, you must keep a completed dutiable transaction statement (Form D2.2).

For a transaction involving real property, you must keep the identity details annexure for each non-Australian transferee.

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.