Buying through your SMSF in Queensland
Seller disclosure
Queensland's Property Law Act 2023 started on 1 August 2025 and brought in a mandatory seller disclosure scheme. Before the buyer signs, the seller must give a disclosure statement (Form 2) and the prescribed certificates. The statement covers the title and encumbrances, any residential tenancy, zoning and planning matters, notices, pools and body corporate schemes. If the seller doesn't comply, the buyer may be able to terminate the contract. For an SMSF we check the zoning and current use where the fund relies on the property being business real property, and the tenancy details where the property is let.
Cooling-off
A residential contract in Queensland has a five business day cooling-off period. It starts on the day the buyer receives a copy of the contract signed by both parties and ends at 5pm on the fifth business day. A buyer who cancels loses up to 0.25% of the price, and the rest of the deposit must be refunded within 14 days. There is no cooling-off for auction sales, for a registered bidder who buys within two business days after an unsuccessful auction, or for option contracts, and none where the buyer is a publicly listed corporation or buys three or more lots at once. Unlike Victoria, a fund with a private company as trustee still gets cooling-off on a residential contract. The buyer can waive or shorten it in writing. The statutory period covers residential contracts, so a fund buying business premises should have the contract reviewed before its trustee signs.
Transfer duty and the custodian exemption
The Queensland Revenue Office charges transfer duty on the purchase. Where an SMSF borrows, section 130A of the Duties Act 2001 can exempt the transfer to the custodian, but the structure is different from New South Wales. The contract is between the seller and the SMSF trustee as buyer, duty is paid on that contract, and the property is then transferred by direction to the custodian. For an SMSF, the trustee must borrow from a third-party lender and use the loan to buy the property, which the custodian then holds on a bare trust. Since 10 August 2026, SMSF borrowing for real property is limited to business real property, so this now mostly arises on commercial purchases. See Whose name goes on the contract?
When the fund is selling
The disclosure scheme applies to the fund as seller too. The trustee must give the buyer the disclosure statement and certificates before the buyer signs, and a mistake can let the buyer terminate, even if it was unintentional. The Queensland Government's advice is to prepare early: collect up-to-date title and property documents and order the certificates before the property is marketed. The proceeds must go to the fund's account. See Selling property in an SMSF.
Settlement
Settlement is done electronically, so we act from Melbourne and nobody needs to attend in Brisbane. We work with the fund's accountant, administrator and lender on the documents each needs. For the steps on a purchase, see Buying property in an SMSF, and for commercial property Buying commercial property in an SMSF.