on 19-02-2019 05:28 PM
Will there be any discussions with the Office of State Revenue to set up the payments for stamp duty to be programmed similar to that of the title registration fees?
The current work around with inputting the Bpay details for the OSR is fine but it would be ideal knowing that the payment is automatic and can’t be missed. It is really important when choosing to pay via Bpay that you select the correct option in stamping to create the payment, namely, “Received by the self assessor before electronic lodgement network settlement” rather than “Committed to be paid as part of the electronic lodgement network settlement”.
The wording causes confusion and can potentially lead to forgetting to pay the Transfer Duty which is why it would be much easier if the system automatically created the payment direct to OSR. I have been guilty of selecting the incorrect option and it took some time to understand why the workspace wasn’t balancing. A more streamline option would make the process much easier and more effective.
on 19-02-2019 07:51 PM
You raise such a great point. The payment system between OSR and PEXA can be clunky. We are working with the OSR closely and will keep you posted.
You've raised a really good work around here, that I am sure your peers are grateful for!
on 20-02-2019 11:32 AM
That is a fantastic idea to streamline the QLD stamping process as well as removing room for error Raelene. Hopefully this is something OSR will look at implementing at some stage in the very near future.
on 20-02-2019 04:44 PM
Raelene you raise a really good point here - we often find it annoying to receive the funds in trust from the pexa settlement and then have to draw the cheque after. Would be much better if it was an automatic payment like title registration fees.
Thanks for posting this topic it's raised a great discussion in our office and look forward to hearing the outcome.