Transfer of property to a special disability trust before 1 July 2023

Circumstances/Transactions:

A transfer of dutiable property to the trustee of a special disability trust (SDT) for no consideration.

Where the dutiable value of the property subject to the transfer exceeds $500,000, duty is chargeable only in respect of the dutiable value of the property exceeding $500,000.

If the dutiable property is not gifted by an immediate family member, this exemption does not apply. 

Transfer of property to a special disability trust from 1 July 2023

Evidence:

For a transfer of land the following evidence is required:

1. The Digital Duties Form.
2. The original or a copy of the duly stamped SDT trust deed together with any subsequent amendments.
3. A statutory declaration by the trustee declaring the following:
   • Whether the transfer is part of a sale or other arrangement under which consideration passed between the transferor and the trustee of the SDT.
   • Whether the dutiable property was gifted by an immediate family member of the principal beneficiary, and if so, identify their relationship to the principal beneficiary.
   • Whether the value of the dutiable property transferred exceeds $500,000.
4. Evidence of the value of the property as at the date of the transfer, by one of the following:
   • A valuation by a certified practicing valuer who is a member of the Australian Property Institute (API) or by a member of the Real Estate Institute of Victoria (REIV) with sworn valuer accreditation.
   • A letter of appraisal from a licensed real estate agent and a copy of the relevant rates notice.