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Transfer of mortgage procedure

Follow this procedure to help you lodge a transfer of mortgage using OSRconnect.

Use our transfer of mortgage 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 of mortgage as the Transaction class.
  3. 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.
  4. Select Existing right from the Type of dutiable property drop-down list.
  5. Enter the Transaction/Document date using the calendar or text field (dd/mm/yyyy).
  6. For agreements, enter the Unconditional date - the date when the last allowable contract condition was satisfied (if applicable).
  7. Answer the question (if applicable): Is there an agreement in writing?
    If Yes, complete the remaining questions.
  8. Answer the question (if applicable): Does this transaction also include a transfer(s) assessed under section 22?
    (Form 1 pursuant transfer)
  9. Answer the question (if applicable): Has duty been previously paid on this agreement?
    If Yes, complete the remaining questions.
  10. Click Next.

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

  1. Enter the dealing numbers of the mortgages being transferred in the Property text field.

An example of the document details screen

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

To add more transferors, repeat steps 15 to 17.

  1. Select Transferees from the Document detailslist.
  2. Answer the question: Are any of the transferor/s and transferee/s related?
    If Yes, evidence of value is not required for a transfer of mortgage.
  3. Select the Transferee type from the drop-down list.
  4. Enter the transferee details.

You need to enter an ABN or ACN for a company, and a date of birth for an individual.

  1. Enter the Interest acquired by the transferee as a fraction.
  2. Complete the transferee contact details.
  3. Click Add to register these details.

To add more transferees, repeat steps 20 to 24.

  1. Click Next.
  1. Enter the Number of mortgages being transferred.
  2. Answer the remaining questions.
    For this transaction, the answers will generally be No.
  3. Click Next.

The amount of duty payable is calculated, with interest (if applicable).

  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 as a 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.
  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 details.
  2. Check the box to complete your acknowledgement.
  3. Click either:
    • Submit to lodge this transaction - you can then view this in Payment Obligations.
    • 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 to avoid unpaid tax interest (UTI). Transactions with a liability amount owing must be paid within 14 days of being lodged.

If UTI was owed at the time of lodgement, it will continue to accrue until the outstanding amount is paid.