topic PEXA Fee and Pricing update | Effective 1 August 2017 in Ask the PEXA Community

PEXA Fee and Pricing update | Effective 1 August 2017

EmilyBilling — Wed, 25 Jul 2018 06:28:10 GMT

Please refer here for 2018 pricing

Hey all,

From 1 August 2017 there is a change in PEXA fees for online lodgements. This is an annual pricing increase in line with updated prices from Land Registries across the country.

The annual review of PEXA fees for electronic lodgements is determined in accordance with the PEXA Pricing Policy. A number of elements are taken into account when reviewing the PEXA fees. The first element is the change in the weighted average lodgement support services (LSS) costs from the Land Registries. Any change in the weighted average LSS is passed through directly. The second is the Consumer Price Index (weighted average of eight capital cities) published by the Australian Bureau of Statistics (ABS 6401.1) CPI for the period has increased by 2.1% and this was applied to PEXA's operational cost component. The third element relates to changes to PEXA's direct input costs (including, for example, costs that may be introduced by third parties which materially impact the cost of providing services), although no additional costs were factored into the most recent price review.

Please see below for the new pricing table inclusive of GST for the key transactions from 1 August 2017:

Pricing effective 1 August 2017

The full pricing table is available here.

Please post any questions or comments below.

Thanks,

Emily

Re: PEXA Fee and Pricing update | Effective 1 August 2017

PetaStewart — Wed, 26 Jul 2017 00:32:58 GMT

I have matters settling on or after 1.8.2017 however the fee is still shown as the old amount. I am concerned this will be updated on the day of settlement which will of course throw out the balancing FSS. Please advise.

Re: PEXA Fee and Pricing update | Effective 1 August 2017

GeorgePolus — Thu, 27 Jul 2017 00:57:11 GMT

Hi Peta,

Lodgement Fees are returned to PEXA from the Land Registry at Lodgement Verification.

The Settlement Date is passed by PEXA to the jurisdictional Land Registry at Lodgement Verification which is used by the Land Registry as the 'Intendend lodgement date'. The Land Registry uses the intended lodgement date to determine and return the lodgement fee to PEXA that WILL BE IN EFFECT on the date of settlement.

You are correct to be concerned if the Lodgement Fees returned to PEXA by the Land Registry appear incorrect.

The best thing to do will be to invoke lodgement verification. You can do so by making an update to one of your documents. When lodgement verification returns, the fee in effect on the date of settlement will be returned. (Be sure to return to the document and correct the data you updated - lodgement verification will be invoked once again).

If you believe the lodgement fees are incorrect following the above, please let me know the jurisidction you are working in and I will investigate and get back to you.

PEXA Fees work in a similar manner to lodgement fees. However, unlike lodgement fees, if PEXA documents are signed with the 'old' PEXA Fees, we will never fail the transaction at lodgement.

Please let me know if you have more questions.