Since 29 June 2013, a one-off duty exemption/concession has been available for young farmers aged below 35 who are buying their first farmland property valued at less than $750,000, specifically:

  • Farmland valued at less than $600,000 receives a duty exemption on the first $300,000, or
  • Farmland valued from $600,000 to $750,000 receives a duty concession

You must choose between this exemption/concession and the PPR concession, whichever you calculate is worth more. If you don’t choose, you will automatically receive the PPR concession.

You and your partner/spouse are eligible for this concession/exemption even if either of you owns or has owned non-farmland in the past. However, if you or your partner/spouse has been a shareholder of a company or beneficiary of a trust that owns or previously owned farmland, you are ineligible for this concession/exemption.

For contracts entered into before 29 June 2013, please contact us on 13 21 61.

1

Gather required information

If you are eligible as a young farmer, please refer to the Young Farmers Exemption/Concession Claim (Form-56) for the specific information to provide, such as:

  • Your personal and business details,
  • Contract details (and that of the transferee and transferor),
  • Description of primary production and water entitlements, and
  • Disqualifying interests of you or your partner/spouse

Additionally, you must provide the following supporting documents with your form:

  • Original transfer of land,
  • Copy of the contract of sale,
  • For transfers between related parties, evidence of the value of the dutiable property by:
    1. A letter of appraisal from a licensed real estate agent and a copy of the rate notice, or
    2. A valuation from a certified practising valuer who is a member of the API of by a member of the REIV with sworn valuer accreditation
  • Copy of duly stamped trust deeds together with any subsequent amendments (if transaction involves a trust)
2

Complete your claim form

Print the claim form and complete by hand using block letters in blue or black ballpoint pen.

3

Lodge your claim form

Conveyancing industry

This transaction should be processed through Duties Online. As such, once you have completed your statement you should give it to a lodging agent (usually your financial institution or your solicitor), who will lodge it with your transfer documentation.

If you do not have a lodging agent, please refer to our list of registered Duties Online users to find one that is convenient for you to use.

Individuals

Members of the public who are not using a DOL registered user (usually a solicitor or conveyancer) and wish to lodge electronically as an individual can do so after a simple registration process. You can electronically lodge scanned documents for a land transfer of declaration of trust via our website after you register with us

Next steps

A duty assessment will be issued once we have verified all documentation and calculations. We will contact you if more information is needed to help us assess your claim.

If you receive the exemption/concession and your circumstances change, resulting in the requirements for the primary production, FHOG or PPR (if applicable) assistance not being met, you must notify us in writing within 30 days of the change(s).