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Particular vestings exemption (s. 125) procedure

Follow this procedure to help you lodge a section 125 exemption claim using OSRconnect.

Use our particular vestings 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 the appropriate Transaction class as per the land type.
  3. Select Vesting of dutiable property as the Type of dutiable transaction.
  4. Select Land in Queensland as the Type of dutiable property.
  5. Enter the Transaction/Document date using the calendar or text field (dd/mm/yyyy).
  6. Click Next.

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

  1. Enter the lot number in the Lot from field.
  2. Select the Plan type from the drop-down list.
  3. Enter the Plan number.
  4. Click Add to register these details.
  5. Answer the question: Is the property a residential off-the-plan purchase?
  6. Answer the question: Is the property a new building or residence?

To add more properties, repeat steps 9 to 12.

  1. Select Transferors from the Document details list.

For a vesting of dutiable property resulting from bankruptcy, enter the party declaring bankruptcy as the transferor, and the appointed trustee as the transferee.

  1. Select the Transferor type from the list.
    The default type is Individual.
  2. Enter all the transferor details.
  3. Answer the question: Is the transferor a non-Australian entity?
    If Yes, an identity details annexure is required.
  4. Click Add to register these details.
  5. Select Email next to the non-Australian transferor’s name. If you are unable to obtain the email address for the transferor, contact the Office of State Revenue immediately.
  6. Select Transferees from the Document details list.
  7. Answer the question: Are any of the transferor/s and transferee/s related?
    Generally, the answer is No for a vesting.
  8. Select the Transferee type from the list; for example, Trust.
  9. For a trust, enter the following in Trust name:
    • full name of the trust
    • the reason for the vesting of dutiable property; for example
      • Property of John Citizen (a bankrupt)
      • John Citizen (statutory trust for sale)
      • John Citizen (statutory trust for partition).
  10. Select the Trust type from the drop-down list.
  11. Enter the Interest acquired by the transferee as a fraction.
  12. Complete the contact details for the trust.
  13. Enter the full name of the trustee.
  14. For each trustee, answer the question: Is the transferee a non-Australian entity?
    If Yes, the non-Australian transferee must complete an identity details annexure and these details must be recorded in OSRconnect.
  15. Complete the trustee contact details.
  16. Click Add to register these details.
  17. Answer No to the question: Do you want to claim a home concession for all beneficiaries under the fixed trust?
  18. Click Next.
  1. Answer No to 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.
    Enter $0.00 for exemption claims.
  3. Answer Yes to the question: Is an exemption being claimed?
  4. Select s. 125 Exemption Particular Vestings from the Exemption type drop-down list.
  5. Answer No to the question: Does this transaction form part of an arrangement that includes other dutiable transactions (Section 30)?
  6. Click Next.
  1. Click Save to validate the data entered.
    The status message advises of any errors in the form.

A transaction number is created, and the transaction is saved in draft.

  1. Click Summary.
  2. Click Print for a hard copy.
  3. Click Next.
  1. Enter your full Name and contact details.
  2. Check the box to complete your acknowledgement.
  3. Click either:
    • Submit to lodge 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.