Stamp Duty payable on PEXA but my client has now given me a cheque
I have completed the stamp duty process on PEXA but now my client has brought a physical cheque to me, can I change the stamp duty to forward the cheque to OSR old school or will I need to get the client to cancel the cheque.
You may pay the cheque to Revenue NSW and still settle on PEXA. However, to do so, the cheque would need to be received by Revenue NSW, receipted into their systems and applied to the appropriate client. This can take more than a week to cater for postage and processing. So the question is, how long until settlement? If settlement is less than two weeks away, I would not risk it, as you will not be able to settle until the money is either receipted at Revenue NSW, or accounted for in the PEXA workspace by way of a financial settlement schedule line item.