Does SMSF Pay Stamp Duty?

Self-managed superannuation funds are privately managed super funds that allow their members to take control of their retirement planning by purchasing investment assets that generate a returned income. The returned income is then divided and split amongst the SMSF member’s retirement savings. Stamp duty is a government-imposed tax on documents required to record specific transaction types legally. 

Members of a self-managed superannuation fund may wonder if they are required to pay stamp duty on their SMSF. SMSF trust deeds are generally stamp duty-free. However, the Northern Territory and Tasmania charge nominal fees on SMSF trust deeds. The State Revenue Office also exempted stamp duty on a property that is being transferred from an SMSF trustee to a member. 

However, there are situations where a member or trustee of an SMSF may be required to pay for stamp duty.

SMSF members and potential members should invest in the advice and assistance of a professional lending specialist, mortgage broker, or financial advisor prior to creating or joining an SMSF. SMSF is self-managed, thus its members are totally responsible for the fund. If an SMSF is not created and set up properly, the fund’s members may be liable to face hefty financial and legal fees. 

At Mortgage House, our professional lending specialists are experienced in working with SMSF and have the tools necessary to successfully walk potential members through the creation and set-up process while also providing specialized financial and investment advice.