Stamping in PEXA is quite topical amongst our subscribers at the moment, so we thought it may be useful to post a refresher outlining some simple steps that will help overcome a common error that causes delays.
In QLD, Stamping must commence in the PEXA Workspace so that an ELN Transaction Number generates. This ELN Transaction Number allows PEXA and OSRconnect to communicate and for Transfer Duty to be verified once stamping has been submitted in OSRconnect. If stamping is previously done in paper then the ELN Transaction Number does not exist and the system is unable to verify Transfer Duty. As a result the transaction will then need to revert to a paper settlement. Please refer here for more details on the OSR process for stamping in PEXA.
The correct order of steps to stamp in PEXA are:
When in the role of Incoming Proprietor, create the Transfer document (this will remain in a status of "In Preparation" until these steps are complete)
Complete the details of the Form 24 Part A
Seller completes the details of Form 24 Part B
Once both Form 24 documents have a 'Prepared' status, navigate to the Transfer Duty screen.
Click Enter Duty Information and select the appropriate Transfer Duty option.
Click Save and receive your unique OSR Transaction number.
Open OSRconnect
Using the OSR Transaction number you received in the PEXA Workspace, locate the duty transaction in OSR Connect and complete your application for duty assessment.
Once duty assessment is complete, return to PEXA and click Verify Duty to confirm the duty results.
Your PEXA Direct Specialist is always available for further support and helpful tips, and please share on Community if you know a handy way of remembering the order for stamping in PEXA.
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