The superannuation concession applies to duty on transfers of dutiable property.
Eligibility for the concession
You can claim this concession on transfer duty if you:
- transfer dutiable property between superannuation funds to merge or split the funds
- create a trust of dutiable property because of the variation or reconstitution of a superannuation fund. (Read more about transfer duty on trusts.)
The superannuation fund must become a complying superannuation fund within 1 year.
A complying superannuation fund is:
- a complying superannuation fund under the Superannuation Industry (Supervision) Act 1993 (Cwlth), section 42 or 42A
- an exempt public sector superannuation scheme under that Act.
You pay duty of $20 if the concession is granted.
How to claim
To claim the concession, lodge the following:
- a dutiable transaction statement (Form D2.2)
- an identity details annexure for each non-Australian transferor and transferee, when transferring real property (e.g. homes, apartments, business premises and vacant land)
- an explanation of the background to the dutiable transaction and the entitlements, if any, to be cancelled or created
- copies of the governing rules of the superannuation funds and any proposed changes to the rules
- a statement of the dutiable property that is the subject of the transaction
- a copy of each instrument relating to the transaction
- a statutory declaration from a trustee of each superannuation fund involved stating that, in the trustee’s opinion, the fund will be a complying superannuation fund within 1 year after the transaction.
If the superannuation fund hasn’t become a complying superannuation fund within 1 year, you must lodge the following within 28 days of the first anniversary of the transaction:
- a notice for reassessment—superannuation fund transfer duty concession/exemption (Form D2.6)
- the original documents on which the concessional duty was paid.
We will reassess transfer duty on the transaction as if the concession had never applied and send you a reassessment notice.