on 15-07-2016 06:01 PM
on 15-07-2016 06:01 PM
What happens if I need to revert to a manual settlement because the transfer needs to be assessed over the counter at State Revenue and cannot be assessed via ROL?
How do I stop the electronic settlement proceeding and revert to a manual process?
Solved! Go to Solution.
21-07-2016 08:32 AM - edited 21-07-2016 08:54 AM
21-07-2016 08:32 AM - edited 21-07-2016 08:54 AM
SolutionHello @DeborahP
As @adrianpapa has said, reverting to a manual settlement is a relatively easy process. Our Transfer Guidelines (clause 15) state that if a party cannot progress in PEXA, inform the other parties and advise the reason for withdrawal using the PEXA Conversation tool. This is really important so that all of the other parties understand that the settlement will need to be completed in paper. The Guidelines also say that this should be done as soon as possible once the party knows they cannot proceed. From my experience, you need to do this about 2 weeks prior to settlement. The practitioners I work with find this is a comfortable timeframe for them to avoid any added stress of rushing around to get things done at the last minute. It also avoids any unnecessary settlement delays.
I hope this gives you a little more info. Thanks for reaching out to the Community.
Regards
Helen.
on 20-07-2016 02:55 PM
on 20-07-2016 02:55 PM
Hi @DeborahP,
Great question, to revert to a manual settlement, all you need to do is go into the workspace and in the particiant section, withdraw from the workspace.
21-07-2016 08:32 AM - edited 21-07-2016 08:54 AM
21-07-2016 08:32 AM - edited 21-07-2016 08:54 AM
SolutionHello @DeborahP
As @adrianpapa has said, reverting to a manual settlement is a relatively easy process. Our Transfer Guidelines (clause 15) state that if a party cannot progress in PEXA, inform the other parties and advise the reason for withdrawal using the PEXA Conversation tool. This is really important so that all of the other parties understand that the settlement will need to be completed in paper. The Guidelines also say that this should be done as soon as possible once the party knows they cannot proceed. From my experience, you need to do this about 2 weeks prior to settlement. The practitioners I work with find this is a comfortable timeframe for them to avoid any added stress of rushing around to get things done at the last minute. It also avoids any unnecessary settlement delays.
I hope this gives you a little more info. Thanks for reaching out to the Community.
Regards
Helen.
on 26-07-2016 10:34 AM
on 26-07-2016 10:34 AM
Hi Deborah.
In NSW if a PEXA workspace has progressed as far as the Incoming Proprieter has stamped in EDR and then reverting to paper / abandoning the PEXA workspace. The Incoming Proprieter must fill in an ODA042 Electronic Duties Return Cancellation Request Form and send to the Office of State Revenue.
Electronic Duties Return (EDR) - Cancellation Request Form
Regards, Carl.