Queensland Law Society

Additional foreign acquirer duty commences 1 October

As announced in the Queensland State Budget 2016, additional foreign acquirer duty (AFAD) will be introduced in Queensland on 1 October 2016. This is an additional amount of transfer duty, landholder duty or corporate trustee duty on particular transactions when foreign purchasers acquire certain residential land.

AFAD is to be self-assessed by practitioners registered to transact in OSRconnect, the Office of State Revenue’s (OSR) online lodgement system.

From 1 October, OSR forms and systems incorporating AFAD will be available, along with resources to help self-assessors. These resources include the AFAD toolkit, interactive help and step-by-step procedure to lodge transactions in OSRconnect.

It’s important to note that Form 1 (Land Registry Transfer) and Form 24 (Property Information Transfer) will not be updated at this time to reflect AFAD. Therefore, if you are submitting these forms, you should also submit Form D2.2 version 5 (Dutiable transaction statement), which will be updated to include AFAD.

  • Read more about AFAD.
  • Find resources for transfer duty self-assessors.