SMSF Acquiring Property with Stamp Duty Concession

$1,485.00 - $2,640.00

Currently there are a number of States which offer concessional duty on transfers of business real property from a member into their SMSF, including  NSW (s62A), WA (s122) and VIC (s41).  Each of the States has variations on their requirements.  Transfers of property (owned in the personal name/s of members of a super fund) into the fund will attract only nominal duty provided that each member’s interest in the property is quarantined strictly only for the benefit of that member inside the fund and all other requirements of the relevant Duties Act are met.   

Townsends Lawyers have developed tailored documentation suitable for transfers under the relevant Duties Act to assist an SMSF to apply for the concessional stamp duty as available in the above States.

Documents Service 

Document Service includes:

  • Letter/s of advice
  • Fund Specific Amendment Deed
  • Trustee Irrevocable Determination
  • Trustee Resolutions
  • Cover letter for submission to relevant Duties Authority

Price:

SUPERCentral Fund

Without Loan   $1,485.00
With Loan   $1,815.00

Non-SUPERCentral Fund

Without Loan   $2,145.00
With Loan   $2,640.00

 

Conveyancing Service (NSW)

We are able to provide a full conveyance service by engaging a conveyancer with experience in these transfers to assist in preparing the contract, transfer and undertaking other necessary procedures for the conveyance of this type of transaction. 

It is important that the conveyance is undertaken as if the parties were unrelated (dealing at arms length) in order to ensure compliance with s109 of the Superannuation (Industry) Supervision Act 1993 (Cth).  Accordingly, all the usual processes and procedures will need to be completed and, ideally, the vendor and purchaser should be represented by different conveyancers or solicitors in this transaction.

The estimate of fees for

  • engaging a conveyancer to act for the seller is approximately $1,500 - $2,500 inclusive of GST and necessary disbursements (depending upon the searches required, number of contracts and incoming/outgoing mortgagees).  This fee can be confirmed once we know further details of the transaction; and
     
  • engaging our firm to act for the purchaser is $550 inclusive of GST.
     

Please note that lodgement of the relevant documents with the Duties Office and Titles Office is not included in our conveyancing service. Please refer to our implementation service (outlined below) for this aspect of the transaction. 

 

Document Implementation Service (NSW Only)

In addition to supplying the relevant documentation to apply for the concessional stamp duty we are also able to assist in the implementation of this transaction through the following services:

  • Submit the Transfer form and Contract for Sale for concessional stamping together with the supporting documents
  • Respond to any requisitions from OSR
  • Submit the stamped Transfer form to the Land Titles office
  • Respond to any requisitions from Land Titles
  • Forward the reissued Certificate of Title to the Trustee of the SMSF

Price:

SUPERCentral Fund

Without Loan   $440.00
With Loan   $660.00

Non-SUPERCentral Fund

Without Loan   $440.00
With Loan   $660.00

Documents will be available on your My Account page within 3 business days unless otherwise advised.

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