10-09-2019 12:52 PM - edited 14-10-2019 09:02 PM
Just like the invention of colour TV, Land Tax can now be paid on settlement utilizing the PEXA Platform!
Land Tax can be paid at settlement in a PEXA transaction without the availability of the physically stamped clearance certificate. The solution was agreed between Revenue NSW, PEXA and the Law Society of NSW.
The solution required the following changes to satisfy parties, which were implemented earlier this year:
The process is as follows:
Office of the Registrar General (ORG) have a waiver in place in the short term to assist practitioners to transition to the new process. The waiver will expire 30 November 2019. The waiver can be located here https://www.registrargeneral.nsw.gov.au/__data/assets/pdf_file/0008/526733/Conveyancing-Rules-Waiver...
on 14-10-2019 03:48 PM
In regards to the receipt of the Land Tax Payable Letter, is there any indication that the representative can get an electronic copy, rather than wait for the vendor to get organised?
on 22-10-2019 10:31 AM
I've asked the question at Revenue NSW - just waiting on an answer. I think there are some issues that prevent the debt letter from being auto generated. The Vendor would need to contact Revenue NSW and then request the total outstanding be calculated, and a letter outlining the total debt owing.
I'll update once I have further information.
In my experience from recent transactions, Revenue NSW does not provide these land tax payable letters. In some transactions we have had to provide the assessment for the current year (together with evidence of payment of any instalments by the vendor) and a clear land tax certificate for the previous year, which confirms there is no land tax payable up to and including that year. It works but it isn't the process you set out.