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Superannuation fund trust exemption (s. 119) procedure

Follow this procedure to lodge a section 119 exemption claim using OSRconnect.

Use our interactive help first to see if this exemption applies to your transaction. Read our superannuation fund trust acquisition or surrender exemption toolkit for more information.

Note: The fields marked with an asterisk (*) are mandatory.

On the Lodgement Obligations tab:

  1. Select Transfer Duty from the Create return/transaction drop-down list.
  2. Select Create to start the transaction.
  1. You can enter your own reference (optional).
  2. Select Transfer - other than land as the Transaction Class.
  3. Select Trust acquisition or trust surrender as the Type of dutiable transaction.
  4. Select Trust - dutiable property as the Type of dutiable property.
  5. Enter the Transaction/Document date using the calendar or text field (dd/mm/yyyy).
  6. Answer the question: Is there an agreement in writing?
    Select Yes if variations are made to the trust deed for changes in beneficiaries of the superannuation fund.
  7. If the previous answer is Yes, answer the question: Does this transaction also include a transfer(s) assessed under section 22? (Form 1 pursuant transfer).
    The answer will generally be No for a trust acquisition or surrender in a superannuation fund.
  8. Answer the question (if applicable): Has duty been previously paid on this agreement?
    If the answer is Yes, complete the remaining questions.
  9. Click Next.

The Property section will display first. Make sure you complete this stage following our data entry standards.

  1. Enter a detailed description of the transaction in the text field.
    For example: Deed of variation removing Jane Black as a member of the Black Superannuation Fund.
  2. Select Transferors from the Document details list.

The transferors are the existing beneficiaries of the superannuation fund surrendering their interest or the departing beneficiaries.

  1. Select the Transferor type from the drop-down list.
  2. Enter the transferor details.
  3. Click Add to register these details.

To add more transferors, repeat steps 14 to 16.

  1. Select Transferees from the Document details list.

The transferee is the member becoming a beneficiary of the superannuation fund. If a beneficiary is being removed, enter the remaining beneficiaries.

  1. Answer the question: Are any of the transferor/s and transferee/s related?
    The answer will generally be Yes for a section 119 exemption.
  2. Select the Transferee type from the drop-down list.
  3. Enter the transferee details.

You need to enter a date of birth for an individual.

  1. Enter the Interest acquired by the transferee.
  2. Complete the transferee address details.
  3. Click Add to register these details.

To add more transferees, repeat steps 19 to 23.

  1. Click Next.
  1. Answer the question: Is the consideration less than the unencumbered value of the property included in this transaction?
  2. Enter the Consideration / Unencumbered value of ENTIRE property as nil ($0.00) for an exemption claim.
  3. Answer Yes to the question: Is an exemption being claimed?
  4. Select s.119 Exemption Acq/Surr in Superannuation Fund from the Exemption type drop-down list.
  5. Answer the question: Does this transaction form part of an arrangement that includes other dutiable transactions (Section 30)?
    If Yes, complete the remaining questions.
  6. Click Next.

The duty is calculated as $0.00 for an exemption claim.

  1. Click Save to validate your data. The status message advises of any errors in the form.

A transaction number is created, and the transaction is saved in draft. (The transaction number will be displayed in a pop-up box that you can then close by clicking the X button.)

  1. Click Summary to review your data.
  2. Click Print for a hard copy.
  3. Click the X to close the summary.
  4. Click Next.
  1. Enter your full Name and contact Contact details.
  2. Check the box to complete your acknowledgement.
  3. Click either:
    • Submit to lodge this transaction - you can then view this by using the Filter & Search function in the Lodgement Obligations tab.
    • Save to save this transaction as a draft (click the X to close) - you can then view this in Lodgement Obligations. You must lodge (submit) the transaction within 30 days of the liability date.