Deceased estates: duty requirements

If the transaction is a transfer of, agreement for the transfer of, or a declaration of trust over property in the estate of a deceased person, provide:

1. the transaction record (such as a transfer or agreement to transfer)
2. a completed Foreign Transfer Duty Declaration Form
3. either
   • a copy of the grant of probate and will of the deceased person and any codicils thereto or
   • in the case of an intestacy, a copy of the letters of administration and a list of the persons entitled in distribution under the Administration Act 1903, their relationship to the deceased person and the share of the estate to which they are entitled
4. a copy of statements of assets liabilities of the estate
5. if the transaction results from an arrangement varying the distribution of the terms of the will of the deceased person or the provisions of the Administration Act – statements of the assets and liabilities of the estate as at the date of the arrangement
6. if the transaction results in a partnership acquisition
   • a copy of any partnership agreement (or stamped copy if executed prior to 1 July 2008) and
   • complete financial statements for the partnership as at the date of the partnership acquisition or as at 30 June nearest that date
7. the amount of any consideration being given under the transaction
8. the amount of any debt released or extinguished under the transaction
9. completed duties valuation forms for all land forming part of the estate. Duties valuation forms are not required if a valuation is obtained from a qualified valuer which meets the criteria specified in Commissioner’s Practice TAA 23 ‘Circumstances when a Taxpayer will be Required to Provide a Written Valuation’
10. if the will or arrangement creates a life tenancy in any of the assets of the estate – the information set out in Valuation of life and remainder interests
11. a copy of the certificate of title for any land being distributed as part of the estate
12. any other relevant information that may assist in the assessment of duty.

An assessment of duty will not be issued until all required information is provided.