Whether duty is payable and any requirements of stamping a Bare Trust or Asset Acquisition Trust (“AAT”) is dependent on the State. Where lodgement is required it is advisable to send the AAT into the revenue office within 30 days of it being executed.
The following information should be used as a guide only. Stamp duty requirements change over time so we suggest contacting your local revenue office or seeking independent legal advice to confirm your stamp duty obligations.
VIC – No duty is payable on an AAT in Victoria however it is a requirement that the Deed is lodged with SRO. To do this you will need to lodge the Declaration of Trust through an SRO agent on Duties Online or through the SRO’s public lodgement system. As an agent of the SRO we are able to do this lodgement for you for a small fee of $88 incl gst. All we need is:
- A scanned copy of the executed Deed.
- A signed document stating that the Deed was executed in Victoria (template enclosed).
NSW – The OSR’s EDR system does not allow agents to duty stamp AATs. To have your AAT stamped in NSW, you will need to drop the deed and the following other documentation to one of their Revenue NSW locations or post it in to them (we recommend using trackable post). Duty is payable at $500.
- Original executed AAT
- Copy of the executed SMSF and any related amendments or variations
- Copy of the stamped front page of the contract the AAT relates to
- Copies of bank statements with full account holders names and copies of loan agreements
- Purchaser declaration form (ODA 076 I or ODA 076 NI) which can be downloaded from the Revenue NSW website
NT – To have your AAT stamped in NT you will need to drop the executed Deed along with the contract it relates to the Territory Revenue Office or post it in to them (we recommend using trackable post). Duty is payable at $5.
QLD, SA, ACT, TAS & WA – Stamp Duty is not payable on the declaration of Trust.