When interest is payable on stamp duty, and, it is being paid from settlement funds, does PEXA calculate the interest paid up to and including the date of settlement or just up to and including the date the EDR number is entered and verified?
We have processed stamp duty through OSREDR.
The NOA states that interest is $3,793.00.
The online calculator states that interest is $4,026.31.
PEXA reflects $3,793.00.
Does not NOA and PEXA only have interest until today?
The stamp duty interest is updated when the documents are verified or morning of settlement or if a participants triggers a manual verification. The stamp duty does not continuously update each day hence the discrepancy in figures.
To trigger a manual stamp duty verification please go to the Stamp Duty tab, click the action cog and select verify duty. NSW Revenue will update the details/amounts to match what is on their computer at time of verification.