PEXA is pleased to present a maintenance release of the PEXA System, Release 10.0.1, scheduled for business go live 17 June 2019.
From Monday 17 June 2019, the State Revenue Office (SRO) of Victoria is delivering its Duties Online (DOL) solution to allow transfers requiring complex assessments to be settled and lodged electronically. This aligns with Land Use Victoria timeline to make property settlement 100% digital by 1st August 2019.
To support this transition, PEXA will support the end-to-end electronic lodgement of transactions where complex assessments is required. This means transactions that require manual duty assessment can be settled and lodged completely online.
Complex assessments are identified as stamp duties lodged to the SRO where manual assessment is required. To see a list of complex assessment lodgement categories, click here.
PEXA is still finalising the details for complex assessments with the SRO and will update the release notes when details are confirmed.
(Referencing PEXA LS3-436)
PEXA has introduced an enhancement that allows you to lodge multiple mortgages where the mortgagor has a name justification. The enhancement lets you choose whether or not to include a name justification for the selected dealing in lodgement cases where there are multiple mortgages on a single title.
Update: 3 June 2019—Due to some issues, we will postpone this feature to a later release.
(Referencing PEXA PDB-5348)
At the request of VIC State Revenue Office, PEXA has updated the Notice of Acquisition (NoA), to align it with the Land Use code and descriptors in the current paper NoA.
We’ve made some field changes to the NoA form:
Previously: Is there a written contract of sale for this transfer?
Now: Is there a written contract of sale or agreement for this transfer?
Previously: Contract of Sale Date
Now: Contract of sale or agreement Date
Previously: 'Total Sale Price' field was editable
Now: 'Total Sale Price' field is non-editable and pre-populated with the Gross Consideration Amount in the related Transfer.
Previously: 'Property Sale Prices'
Now: If entered, 'Property Sale Prices' for all properties in the NoA must equal the 'Total Sale Price' in the NoA.
PEXA has added the following Dealing Requirements to the VIC Lodgement Instructions:
PEXA has updated the following Dealing Requirement in the VIC Lodgement Instructions, so that supporting documents are no longer required to be supplied to the Registrar:
(Referencing IWG-999, IWG-1317, IWG1202)
As part of this release, members will be able to select the following categories to disburse funds during financial settlement via BPay:
(Referencing SETT-6199 SETT-4046)
We’ve improved the search tool to help you search faster and find relevant Workspaces quicker! By introducing smart search, you now type in a keyword or a partial search term and run your search without applying any filters. Smart search will then search for all Workspaces that contain these characters and if a matching item is found, they’ll be displayed in a drop-down list that dynamically changes as you add more characters to the search query.
PILOT: Smart search will be enabled in R10.0.1 but will be available as an initial pilot to a select group of members. PEXA will contact members to invite them into the pilot group. After the initial pilot, we plan to roll this out to all practitioners in early July. Banks will be included in a future release.
In previous releases, the filters were used to restrict matching results to the selected category when you ran a search. With smart search and its powerful ability to search across all categories in all Workspaces, you no longer need to apply filters when you run a search. Instead, the filters are now used to indicate the category of the resulting search item after you’ve selected it.
Because results are dynamically updated as you type your query, smart search displays only the first 10 results, sorted by relevance.
To assist with the accuracy of Workspace checklist items, the following changes have been made to the Checklist panel on the Workspace Summary screen:
CHECKLIST PANEL ITEMS:
Note: The checking of items on the Checklist panel does not override any existing bank requirements or processes (for example, the requirement to email or fax the DA to the bank).
(Referencing PEXA FS-2731, FS-4549, FS-4793, FS-4794, FS-4915, FS-4916)
PEXA is currently supporting both an old as well as new Workspace Summary screens. However, because of issues with the old Workspace Summary screen that impacts a number of Workspaces, we’ve decided to retire the old screen and transition the small number of members that are still using the old screen over to the new screen. This transition will take place next week, starting Tuesday 18th June. If you're already using the new screen, then you're all set and you don't need to do anything.
The new Workspace Summary screen was introduced in December 2018. It helps you quickly assess the health of your Workspace and pinpoint outstanding items by consolidating all the statuses and indicators you need to determine why your Workspace isn’t Ready/Ready. This will save you navigating through the Workspace in search of outstanding items. Additionally, each item that you need to action will be clickable and actionable, simplifying and streamlining your work. For example, if your document hasn’t been signed, you’ll be able to click on the Sign document link and be taken to the signing screen.
The restriction that only Residential Land subject to Contract of sale being solely eligible for e-Conveyancing in QLD has been removed, enabling eligible Commercial transactions to now be lodged electronically.
It also includes the below Non-Monetary Considerations:
Please refer to the What’s In What’s Out document to see what can now be lodged in PEXA.