When creating a trust through NowInfinity, it is important to understand your obligations after the trust deed is signed. While most trust deeds do not require lodgement with the ATO, there may be state-based stamping requirements and associated forms that need to be lodged with other governing bodies.
Trust Deeds – Lodgement vs Stamping
ATO Lodgement: A trust deed is not lodged with the ATO.
State Revenue Office Stamping: In certain states and territories, a trust deed must be lodged with the state’s revenue office for assessment and payment of any applicable stamp duty.
Timeframe: Each state/territory has its own deadline for stamping. Late lodgement may result in penalties and interest.
NowInfinity Stamping Services: Available only for NSW and VIC. For NT, TAS, and other jurisdictions, users must lodge the trust deed directly with their Revenue Office.
State/Territory Stamp Duty Requirements
| State/Territory | Stamp Duty on Trust Deed? | Deadline to Lodge | Relevant Authority |
|---|---|---|---|
| NSW | Yes – $750 | Within 3 months | Revenue NSW |
| VIC | Yes – $200 | Within 30 days | State Revenue Office VIC |
| QLD | Yes – $0* (nominal duty may apply) | Within 30 days | Queensland Revenue Office |
| SA | No stamp duty | N/A | N/A |
| WA | No stamp duty | N/A | N/A |
| TAS | Yes – $50 | Within 90 days | N/A |
| ACT | No stamp duty | N/A | N/A |
| NT | Yes – $20 | Within 60 days | N/A |
*QLD: While no duty is payable on standard discretionary trust deeds, certain transactions (e.g., transfers of dutiable property) may trigger duty.
Record Keeping Requirements
Always retain the signed, stamped copy of the trust deed for your records.
These documents may be requested by:
Banks (for opening trust accounts)
The ATO (for audits or verification)
Other professional advisers
Store both a physical and digital copy securely.
Associated Forms
While the deed itself generally isn’t lodged with the ATO, certain forms do require lodgement:
ABN application – with the Australian Business Register.
TFN application – with the ATO.
Any other registrations specific to the trust’s activities (e.g., GST registration).
Disclaimer: This article is for general information only and does not constitute legal advice. Always confirm requirements with the relevant state revenue office or your legal adviser.