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Buying a business

When you buy (or acquire) a Queensland business, you may be liable for transfer duty on the business assets.

Generally, when you buy a Queensland business, you enter into a contract or an agreement. The agreement outlines the type of business and the assets that are being transferred (e.g. business name, goodwill, stock in trade).

Lodging your documents

You must lodge the following with us (or with your solicitor) within 30 days of signing the agreement:

After we receive your documents and forms, we will issue an assessment. Your assessment will explain how and when to pay the duty. Unpaid tax interest may also apply if you don't lodge your documents or pay on time.

Businesses that include vehicles

If you are buying a business that includes a vehicle, you must also give us the:

  • transfer of vehicle registration form(s) stating the number of cylinders
  • value of the vehicle (if not stated in the agreement).

You may be eligible for a credit if you have already paid duty on the transfer of vehicle registration. To request a credit, include a copy of the receipt issued by Queensland Transport when you lodge your documents. 

Calculating duty

Transfer duty rates apply to the agreement. Duty is calculated on the greater of either the value of the business/property or the consideration paid.

Vehicle registration duty rates apply to the value of any vehicle being transferred as part of the agreement.

Note: If GST is payable, duty must be calculated on the GST-inclusive amount. See Public Ruling 
DA11.1—Transfer duty on dutiable transactions subject to GST for more information.

Exemptions and concessions

You may be able to claim one or more of the following:

Top call centre questions

Is intellectual property dutiable?

Intellectual property is a business asset. See section 35(1)(h) of the Duties Act and the definition of ‘intellectual property’ in Schedule 6 of the Act. If intellectual property is transferred on its own it will not be dutiable, see section 37(3). If it is transferred with another type of business asset (other than personal property) it will be dutiable.

Is the sale of a real estate agent's rent book dutiable?

Yes. See sections 35 and 37(2) of the Duties Act, and the definition of ‘supply right’ in Schedule 6 of the Act. As a supply right, a rent book is a business asset. Unless the requirements of section 37(2) are met, the sale of a rent book will be a dutiable transaction, being either a transfer, or an agreement for the transfer, of a Queensland business asset.

Is trading stock a business asset?

Yes. See sections 35(1)(i) and 37(3) of the Duties Act, and the definition of ‘personal property’ in Schedule 6 of the Act. To be dutiable, trading stock must be transferred with another type of business asset, other than intellectual property.

Is a transfer of a cattle brand together with cattle dutiable under the Duties Act?

Yes. See sections 29, 30 and 37(3) of the Duties Act. The cattle would be aggregated with the brand.

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Last reviewed 7 February 2012

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