In line with the PEXA System Pricing Policy, the annual PEXA pricing increase comes into effect on Tuesday 1 August, 2017.
The new pricing table inclusive of GST for the key transactions from 1 August 2017 is:
The full pricing table is available here.
*Settlement Notices and Settlement Notice Withdrawal fees for single & multiple titles will be automatically discounted to $8.80 from 1 August 2017.
Settlement Notices (QLD)
From 1 August 2017 the PEXA fee for Settlement Notices will be applied for all Settlement Notices completed electronically through PEXA. To align with the PEXA fee for Priority Notices in New South Wales and Victoria, the PEXA fee to lodge or withdraw Settlement Notices will be discounted to $8.80 per title ($8.80 per single title and $8.80 for multiple titles). This is a great saving from the current cost of $19.03 to lodge or withdraw a Settlement Notice for a single title and $32.45 to lodge or withdraw a Settlement Notice for multiple titles.
Determining the fee increase
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.
What next?
PEXA will continue to expand its capability to support a broader range of transaction types and reduce existing exclusions throughout the 2018 financial year and beyond. An extensive program of work is also underway to continue to enhance the PEXA user experience. We will be working closely with members of the e-Conveyancing Community to define, test and deliver this program.
If you have any questions regarding the changes to PEXA fees pleas get in touch. Contact our dedicated Support Team on 1300 084 515 or at support@pexa.com.au.
Updating the Fees in an existing Workspace
If you have an existing Workspace that is scheduled to settle after 1 August 2017, you may need to update your Workspace to have the latest fees accurately reflected. See more information on what to do here.
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