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Compensation agreement - resumption of land procedure

Follow this procedure to help you lodge a compensation agreement for the resumption of land using OSRconnect.

The parties will have entered into a Form 14 general request to register the resumption. This must be lodged in OSRconnect separately - see the procedure for lodging a Form 14 general request resumption of land.

Use our resumption of land toolkit for 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 Transaction Class from the list.

The Transaction Class is determined by the end use of the land being resumed. For example, if the land will be applied to road works, use Transfer of non-residential land.

  1. Select Vesting of dutiable property as the Type of dutiable transaction.
  2. Select Land in Queensland as the Type of dutiable property.
  3. Enter the Transaction/Document date using the calendar or text field (dd/mm/yyyy).
  4. Select Yes to the question: Is there an agreement in writing?
  5. Select No to the question about transfers assessed under section 22 (pursuant transfers).
  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.

Use the Lot to field only when entering multiple consecutive lots on the same plan.

  1. Select the Plan type from the drop-down list.
  2. Enter the Plan number.
  3. Click Add to register the details.
  4. Select Transferors from the Document details list.
  5. Select the Transferor type from the drop-down list.
  6. Complete the transferor details.
  7. Click Add to register the details.

To add more transferors, repeat steps 16 to 18.

  1. Select Transferees from the Document details list.
  2. Answer the question: Are any of the transferor/s and transferee/s related?
    This is generally No.
  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 contact details.
  3. Click Add to register the details.

To add more transferees, repeat steps 21 to 25.

  1. Click Next.
  1. Note if the consideration is less than the unencumbered value.
  2. Enter the Consideration / Unencumbered value of ENTIRE property.
    This is generally the amount of compensation noted in the agreement.
  3. Answer the question: Is an exemption being claimed?
    This is generally No.
  4. Answer the question: Does this transaction form part of an arrangement that includes other dutiable transactions (Section 30)?
    This is generally No.
  5. Click Next.

The amount of duty payable is displayed, 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 in draft.

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