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Transfer existing right for a water allocation procedure

Follow this procedure to help you lodge a water allocation transfer using OSRconnect.

If the transaction is for a new water allocation, see new right acquisition procedure.

Use the water allocations 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. 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 as the Type of dutiable property from the 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).
    Read the public ruling on extension of time to lodge certain agreements (DA019.1) for more information.
  7. Answer the question (if applicable): Does this transaction also include a transfer(s) assessed under section 22?
    (Form 1 pursuant transfer)
  8. Answer the question (if applicable): Has duty been previously paid on this agreement?
    If 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. In the Detailed description of property (other than land) field, enter the details depending on the transaction.
  2. Enter the value of business goodwill and intellectual property. These amounts must be included as part of the consideration or unencumbered value.

Image of the property details screen in OSRconnect

This table provides examples of how to enter existing right transactions.

Transaction Information needed Example
Water allocation Enter the allocation (entitlement) number and the lot and plan number to which it is attached Water allocation WA24 on CP MPH242050
Marina berth Enter the marina berth number and the marina where the boat is berthed Marina berth 11 at Rosslyn Marina
Option agreement (including chattels) Enter the lot and plan of the property Option agreement to purchase lot 51 on RP25589 from DEF Pty Ltd
Lease or licence of a business Enter the name of the business and who it is leased from Business known as Acme Trading Services leased from ABC Pty Ltd
  1. Answer the question: Does this transaction include real property?
    If Yes, complete the remaining questions.
  2. Select Transferors from the Document details list.
  3. Select the Transferor type from the drop-down list.
  4. Enter the transferor details.
  5. Click Add to register these 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?
    If Yes, you must hold evidence of value on file.
  3. Select the Transferee type from the drop-down list.
  4. Enter the transferee details.

You need to enter an ABN, ACN or ARBN 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 21 to 25.

  1. Click Next.
  1. Answer the question: Is the consideration less than the unencumbered value?
    If Yes, you must assess on the evidence of value and keep a copy as part of your record keeping requirements.
  2. Enter the Consideration / Unencumbered value of the existing right (whichever is greater), including chattels, business goodwill and intellectual property.
  3. Answer the question: Is an exemption being claimed?
    If Yes, select the relevant exemption from the drop-down list.
  4. Answer the question: Does this transaction form part of an arrangement that includes other dutiable transactions (Section 30)?
    If Yes, complete the remaining questions.
  5. Click Next.

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

  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.
  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.