To calculate transfer duty when you enter into an agreement to transfer business assets, apply the Transfer Duty Rates (see table below) to the dutiable value of the agreement – the greater of the value of the business assets or the consideration paid. If GST is payable, duty must be calculated on the GST-inclusive amount.
Table: Transfer Duty Rates
|Dutiable value||Duty rate|
|Not more than $5,000||Nil|
|More than $5,000 up to $75,000||$1.50 for each $100, or part of $100, over $5,000|
|$75,000 to $540,000||$1,050 plus $3.50 for each $100, or part of $100, over $75,000|
|$540,000 to $1,000,000||$17,325 plus $4.50 for each $100, or part of $100, over $540,000|
|More than $1,000,000||$38,025 plus $5.75 for each $100, or part of $100, over $1,000,000|
For more information on Transfer Duty Rates and Exemptions, please refer to the QLD Government website, click HERE).