The driver of the Volkswagen, a 65-year-old man from Stafford Heights, and one of his passengers, a 33-year-old woman from Kedron, were also pronounced dead at the scene.
Three other occupants of the Volkswagen were rushed to hospital. A 65-year-old woman and a 36-year-old man, both from Stafford Heights and Kedron respectively, were transported to Princess Alexandra Hospital in a critical condition.
A two-year-old girl was taken to Queensland Children's Hospital, where she remains in a serious but stable condition.
The Forensic Crash Unit is continuing to investigate the circumstances surrounding the crash.
Police are urging anyone who was travelling along Waterford Tamborine Road around the time of the collision - or who may have dashcam or CCTV footage - to contact police.