Community home
Menu
  • PEXA Certified Expand

    PEXA Certified

    This program will give you an introduction to PEXA, how it works and how it can help you transform your business processes.

    Discover More
    • Getting Business Ready
    • System Set Up
    • Transacting in PEXA
  • Help Centre Expand

    Help Centre

    Here you’ll find more than 230 help articles and videos to assist you.

    Discover More
    • Help Articles
    • Help Videos/PEXA TV
    • PEXA Interactive Demos
    • FAQs
    • Ask a Question
    • PEXA Certified
  • Ask a Question
  • Share your Experience
  • Raise an Idea
  • Blogs Expand

    Read the latest in our blogs.

    Keep up to date with the latest PEXA product releases, and read up on the property blog.

    Discover more
    • Community Blog
    • The Property Blog
    • Security Updates
    • PEXA Product Releases
    • Announcements | Outages etc
    • The Bank Blog
    • Workspaces
      Community
      Register
      Log in
    Apps menu
  • Register / Login

Community Home
Register / Login

Purchaser insisting on clear s47 when land tax paid at settlement

cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
  • Community
  • :
  • Groups
  • :
  • New South Wales
  • :
  • Purchaser insisting on clear s47 when land tax pai...
Reply
Topic Options
  • Subscribe to RSS Feed
  • Mark Topic as New
  • Mark Topic as Read
  • Float this Topic for Current User
  • Printer Friendly Page
  • Message Listing
  • Next
This is an open group. Sign in and click the "Join Group" button to become a group member and start posting.
melissajg
Visitor
melissajg

Purchaser insisting on clear s47 when land tax paid at settlement

  • Mark as New
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

Wednesday

There is a land tax charge. 

A clearance quote has been received from OSR.

This has been provided to the purchaser. 

We have entered a payment destination for the full amount noted in the clearance quote.

Purchaser is insisting they are NOT required to settle until they receive clear 47. 

- Their solution is we pay prior to settlement. This is not a solution. 

- I offered an undertaking to provide clear s47 within 5 days post. No

 

Report Inappropriate Content
91 Views
Reply
0 Likes
  • Message Listing
  • Next
ChristaC
Occasional Contributor
ChristaC

Re: Purchaser insisting on clear s47 when land tax paid at settlement

  • Mark as New
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

Friday

I noticed the standard terms of the NSW Contract changed between the 2018 and 2019 editions regarding land tax charges -

 

Clause 16.6 of the 2018: "If a party serves a land tax certificate showing a charge on any of the land, on completion the vendor must give the purchaser a land tax certificate showing the charge is no longer effective against the land."

 

vs

 

Clause 16.6 of the 2019 edition: "If a party serves a land tax certificate showing a charge on any of the land, by completion the vendor must do all things and pay all money required so that the charge is no longer effective against the land."

 

The NSW Law Society said the update reflects the change in process of clearing land tax charges, including payment via an ELNO on settlement. From my understanding, there is actually no requirement under the 2019 edition of the Contract to provide a clear s 47 certificate prior to settlement now.

https://www.lawsociety.com.au/sites/default/files/2019-10/LS3254_ECOS_2019_Summary-of-changes_0.pdf

 

Seems odd that they wouldn't even accept an undertaking.

 

Report Inappropriate Content
64 Views
Reply
1 Like
PEXA

|

Facebook Twitter LinkedIn
  • Support
  • Privacy Policy
  • Terms of Service