Entitlement

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Entitlement

Concession
No concession

Select the appropriate option listed below to determine whether the transfer is liable to concessional duty:

Is the property of the deceased estate being transferred from the legal personal representative to a beneficiary?

in accordance with the terms of the will of the deceased, or
the subject of a trust for sale contained in the will, or
in accordance with the rules of intestacy, or
pursuant to an order under the Family Provisions Act, or
an appropriation of the property of the deceased person (as referred to in Section 46 Trustee Act 1925) in or towards satisfaction of the beneficiary’s entitlement under the trusts contained in the will of the deceased
an appropriation of the property of the deceased person (as referred to in Section 46 Trustee Act 1925) in or towards satisfaction of the beneficiary’s entitlement in accordance with the rules of intestacy

none of the above

Explanation:

A trust for sale is a direction in the will to the executor to sell the property of the estate and to distribute the proceeds of sale to the beneficiaries equally or in specific proportions.

However, where an agreement is made between the beneficiaries and the executor for the property not to be sold but rather transferred to the beneficiaries in accordance with the proportions to which they were otherwise entitled, concessional duty may still apply.

Intestacy arises when a person dies without having made a will. The provisions of Section 61B of the Probate and Administration Act 1898 govern entitlement to the deceased’s assets on intestacy.

Order under the Family Provisions Act, where the terms of a will are contested, the court may determine entitlement to estate assets.

Note:If an amount of consideration is shown on the transfer (other than $1), please contact OSR for further advice.

More information

Last updated: 16-Sep-2008