If property that is held by persons jointly is transferred or agreed to be transferred to one or more of those persons, provide:
- the transaction record (such as a transfer or agreement to transfer)
- a completed Foreign Transfer Duty Declaration Form
- completed duties valuation forms for each item of property that is land. 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’
- a copy of any valuation or appraisal conducted on the property within three months of the date of the transaction
- if the property is a business asset – the latest complete financial statements for the entity that owns the asset
- the amount of any consideration paid by any of the parties
- the amount of any liabilities assumed under the transaction
- the amount of any debt released or extinguished under the transaction
- if the transactions relate to the subdivision of land
- a diagram of the subdivision, showing measurements and improvements to the land before and after subdivision
- the proportionate entitlement of each registered proprietor of the land
- copies of the current certificates of title for the land
- 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.