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20-09-2018
04:42 PM
2 Likes
@Aoife SRO Webinars: SRO are hosting webinars showing you exactly what you need to do to claim and complete a PEXA transaction in Duties Online (DOL). The webinars will show you how to: Access stamp duty information in PEXA, Provide DOL users with access to claim PEXA transactions, Claim a PEXA transaction in DOL. The first demonstration webinars are running next week, on Monday 24 and Tuesday 25 September, with more to be held in October. Visit the SRO calendar of events to register for a webinar and access the full list of session dates and times.
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20-09-2018
12:38 PM
2 Likes
Thanks for your time today, please feel free to visit our website to see our recent news stories regarding the upcoming LUV mandate timelines. If you have any questions on how to access PEXA please contact the PEXA support line directly. Regards, Paul McKee & Jason Di Pasqua.
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20-09-2018
12:13 PM
1 like
Hi @arace, Thanks for your question. The assessment and payment of stamp duty (land Transfer duty) occurs at settlement in Victoria. Therefore you will be required to complete this in PEXA with the stamp duty determination completed via Duties Online. Regards Paul McKee
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20-09-2018
11:34 AM
3 Likes
Hi @heinzpartners - Jill, We are currently working together with LUV and PEXA to enable our systems to support electronic lodgement of complex duty transfers. These complex categories are explained and listed in our recent website news story Complex Duty assessments are not in scope of the 1 October 2018 mandate, however expected to be available for the next mandate milestone in August 2019. Regards Paul McKee
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20-09-2018
11:19 AM
3 Likes
Hi @TonyaDixon,
I can address question number 1 from your post regarding Land Tax payments via BPAY. We are aiming to resolve this common issue in 2 ways.
Firstly, electronic payment methods are currently being added to the Section 105 Clearance Certificate to enable both BPAY and Credit Card payment, which will remove the requirement for manual paper based cheques at settlement. It is expected that this change will be available later in November of this year.
Further changes are also currently being developed collectively by PEXA and the SRO, to enable electronic disbursement of land tax clearance liability via BPAY from within the PEXA workspace at settlement. This will also include relevant payment allocation rules interacting with SRO systems. It is hoped that this can be available earlier in 2019.
I hope this clarifies,
Paul McKee
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20-09-2018
10:55 AM
2 Likes
Thanks Jonathan, Great question. As was the case in March of this year when the previous LUV mandate milestone occurred, there will be examples of in-flight transactions as we reach the 1 October 2018 milestone. The Land Use Victoria bulletin #182 has included a checklist of examples that would be permitted for paper lodgement as an exception. For clarity in relation to transfers, duty payment, and lodgement, there are 2 ways of how this will be treated: 1. If one or more of the signing events has occurred in paper prior to 1 October 2018, then it will be able to proceed as a paper settlement and lodgement. 2. If the transfer instruments have not been signed prior to 1 October 2018, then it must be transacted electronically in PEXA, * In this case even if duty has been assessed and paid via Duties Online, PEXA must be used and a refund applied for post settlement. I hope this is of assistance, Regards, Paul McKee.
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13-06-2018
04:45 PM
Hi Krystal, Very difficult to diagnose if your problem is PEXA or SRO system related, or resolve your problem from your notes below. It may be best to take this one offline and contact our Customer Contact Centre by telephone on 132161, to speak to a Duties specialist. Hope this helps, Paul.
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13-06-2018
04:40 PM
Hi BytheBay, A change is being investigated to provide the BPAY payment details/option on the S105 clearance certificate. This is not related to any changes in the PEXA system. Paul.
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13-06-2018
04:33 PM
2 Likes
Hi AaronG, I am across the issue on various levels along with the potential benefits that LTX payments in PEXA may bring for PEXA subscribers, however there is some complication. Land Tax payments have not been enabled in the initial SRO PEXA connectivity. A change is being investigated to provide the BPAY payment details/option on the S105 clearance certiicate, which will hopefully reduce both cheques and PEXA settlement issues in the medium term. This will not address all payment allocation issues however, as S105 payments are for the single holding value of land tax owing on a property. A customer may owe a greater land tax liability across other assessments to be paid. Together with PEXA we may be able to address land tax payment issues with a more complete electronic solution, noting that this enhancement work is not funded or available at this time. I hope this helps in some way. Paul.
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29-03-2018
12:14 PM
Hi Tania, You are correct in part. The PEXA system and the SRO system were integrated to settle land transfer duty payments. Land Tax electronic disbursements through the PEXA system were not originally catered for. However, we are hopeful that the PEXA system / SRO payment gateways can be enhanced to cater for these as electronic disbursements in the near future. In the meantime Land Tax can continue to be paid electronically using BPAY, Credit Card and if required in person at a Westpac bank. The electronic details are found on the Land Tax Assessment Notice that is sent to customers. Paul.
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29-03-2018
12:08 PM
1 like
Hi Sue, The BSB and account details are listed on all SRO Land Tax Assessments issued to customers. Very similar to a council rates notice. Hope this helps, Paul.
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29-03-2018
11:51 AM
To hopefully add some clarity to the discussion above: - It is noted that the LUV customer information bulletin states that all transfer of land and survivorship applications must be lodged electronically from (on or after) 1st March 2018. - However, there may be a smaller number of cases where a transfer has been signed + assessed for duty electronically through DOL (Duties Online) + paid and finalised before 1 March, but subsequently not lodged for registration at LUV until after 1 March. These purchasers should not be penalised by the mandate and forced to re-lodge a second transfer electronically through PEXA and subsequently pay duty twice.
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10-10-2017
11:38 AM
2 Likes
A quick update for PEXA community members - A planned IT maintenance update for SRO Revenue Management Systems will begin at 6:00am this Saturday 14 October. Our e-business applications (including the PEXA service to seek the assessment of duty) will be unavailable as a result. We expect normal operation for all SRO systems to return after 6:00pm Saturday. More information can be found on the SRO website.
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16-08-2017
02:45 PM
Great message of slashing red tape for practitioners and purchasers in the settlement process - no more paper land transfer duty forms! More information about the SRO Digital Duties Form can be found here: http://www.sro.vic.gov.au/completeform and you can sign up for an interactive webinar here: http://www.sro.vic.gov.au/webinars. There are also some great videos to show you through the process http://www.sro.vic.gov.au/videos?search-field=&field_related_categories_tid=13
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16-08-2017
02:42 PM
Great message of slashing red tape for practitioners and purchasers in the settlement process - no more paper land transfer duty forms! More information about the SRO Digital Duties Form can be found here: http://www.sro.vic.gov.au/completeform and you can sign up for an interactive webinar here: http://www.sro.vic.gov.au/webinars. There are also some great videos to show you through the process http://www.sro.vic.gov.au/videos?search-field=&field_related_categories_tid=13
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27-07-2017
08:45 PM
1 like
Hi Dee06, The Digital Duties Form has been designed to follow the common flow of a property purchase from vendor to purchaser. The business rules to engage the vendors representative commence the form was based based on extensive industry feedback from AIC and LIV stakeholders. Like many new processes in the e-conveyancing space, changes to old paper based processes are required and I understand that thought is being given to amend the special conditions in a contract to shorten the time requirement pre settlement for vendors reps to complete their elements of the process. Hope this is of assistance.
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17-07-2017
10:11 PM
1 like
The Duties Digital Form is now live and has removed the need for 17 high use Duties paper forms. With its introduction duplicated data entry into paper forms, manual signing, postal and settlement booking delays, and settlement failures have been removed or lessened. A significant slashing of Red Tape. Im sure you will agree this has been a major positive step into the Digital environment for a once heavily paper reliant industry. Like any change , there will be gradual improvements to process which will evolve as the users identify opportunities. The system currently pre populates some of the data elements across to Duties Online, and in future builds greater pre population enabled. The overriding positive being that many paper forms per transfer now don't need to be filled in manually. There are various reasons why the PEXA platform and the data set captured in the Duties Digital form could not be aligned as at 1 July. The tight timeframes for capture of and the sensitivity of immigration data, along with the gradual electronic take up of PEXA being the main initial constraints. Again, the future should see all aligned.
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02-02-2017
09:59 PM
2 Likes
Hi Sjdlaw, You are correct. Duties Online registered organisations are able to store documents for the transfer electronically on the proviso that all images are visible and clear. These can be provided electronically in the case of compliance. audits. The SRO has commenced the design of an online portal to allow capture of relevant transaction data, which would populate into DOL to allow the assessment of duty. Paper based forms and the duplication associated with them would then be made redundant. Hope this helps.
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02-02-2017
09:51 PM
1 like
Those of you who have enjoyed the joys of an end to end property transfer settlement through PEXA will be well aware of the incredible efficiency, and time savings created through the electronic financial disbursement of funds with the click of a button! Why then are manual settlements still acceptable and why do we tolerate the inefficiencies of cheque payment and paper exchange in property settlements? We are in the digital era where we expect instant response times, accessibility, control of data and finance and are not constrained by office locations. Cheque payments are error prone, get lost, bounce, are administratively labour intensive, and take days and days for access to cleared funds! It appears that the purchasers via conveyancers and lawyers should be demanding a PEXA settlement, or at the very least attempting to create a change of behaviour in the industry and demand that settlement disbursements (stamp duty, registration fees, utilities, rates etc) from the lender are paid electronically. Until greater awareness and movement to change is created, the old manual time wasting exchange of paper and cheques will continue.
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02-02-2017
09:11 PM
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Bank requirements are not intrinsically linked to SRO process in anyway. Practice and requirements for provision of forms such as the transfer of land will likely vary between various lenders. The bank will be looking for confirmation that the duty assessed and assessment details match the property being transferred, stated transferor / transferee. All transfers including those completed in PEXA are certified and assessed for duty through the SROs Duties Online system. The data for this is mostly sourced from SRO forms. In terms of SRO paper based forms, the SRO is developing an online portal will aim to capture all required transaction data. This will remove the need for paper forms and duplication of property data entry across multiple forms.
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23-01-2017
10:39 PM
1 like
Hi Peter, Thanks for for your contribution on this subject. The State Revenue Office (SRO) is required to determine the duty payable by a purchaser of Land in Victoria. The assessment and payment of land transfer (stamp) duty by the purchaser then allows settlement, lodgement and registration to proceed smoothly. The purpose of Duties form 2 which is the Goods Statuatory Declaration is to assist the SRO in determining the duty payable on the sale of land or land use entitlement, and all goods whether included or excluded from the contract price which form substantially one arrangement. The good statement is an affirmation that the data pertaining to the transfer is true and correct. This statement can be used in compliance activity. Pleasingly, the SRO is reviewing the Goods Statutory Declaration and the legislative need for wet signatures on this document so that it might be suitable for consideration as a electronic document.
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23-01-2017
10:28 PM
1 like
Excitingly the State Revenue Office is in the process of implementing a project to move the completion of SRO forms online via a single vendor and purchaser portal. Paper based Duties forms will be archived and no longer used. More information and detail to following in coming months.
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14-11-2016
09:49 PM
1 like
Embracing change always comes with a difficult first step into the unknown. If the role of the conveyancer is no longer to gather and assist vendor and purchasers to complete the various authority forms (which is my understanding of what is being suggested above?) , then the value that can be provided by a conveyancer may need to be reassessed. A better way to look at this evolution to e-conveyancing is create savings by removing or lessening the administrative costs of paper based forms. This can be achieved by a change such as online or smart forms which would pre-populate the authority databases and reduce the burden created by endless paper forms. This change would again be shared responsibility by all parties. My view would be that PEXA and the e-conveyancing process provides opportunity for competitive advantage, the creation of process efficiency and potentially a greater profit margin for practitioners who operate electronically.
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28-10-2016
02:54 PM
5 Likes
Bgoodwin I think you have absolutely hit the nail on the head. The additional red tape, cost and loss of productivity associated with chasing up and exchanging the various settlement cheques is a burden which customers and practitioners need not incur any longer. Electronic settlement and and exchange of funds is clearly the ' new standard process' for payment at settlement. Security, access to funds same day, and efficiency are all benefits. We all look forward to seeing many more transactions pass through PEXA in e-conveyancing.
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31-08-2016
10:10 PM
2 Likes
Amy's response above in regards to the purchaser (representative) in PEXA needing to obtain and sight the original goods statement prior to settlement is correct. The LIV special condition in the contracts suggests 7 days. In the same way as is expected in Duties Online the obligation is that all supporting documentary evidence required to allow an assessment of duty is on hand for settlement to proceed. Duties Online registered organisations are required to store or retain access to transaction documents for up to 5 years. Post-settlement these documents can be kept in paper form or stored electronically provided they remain in a legible format and all signatures are visible. If requested via audit then original docs (including Goods Statement) , or an electronic scanned/emailed copy will be required to be sent.
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31-08-2016
09:44 PM
2 Likes
It has been a really positive experience to catch-up with regional practitioners so far across the State. The full benefits off transferring property in an e-conveyancing environment is clearly evident for regional areas. Removing those previous geographic barriers caused by distance.
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23-08-2016
04:57 PM
4 Likes
No - cheques are not a payment method which is accepted in PEXA or the e-conveyancing environment. Funds are dispersed electronically. My question or point was how can we move more people to participate and transfer electronically? What are the barriers (if any) which are preventing participation and a prevalence to rely on settlement with a cheque payment?
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22-08-2016
04:56 PM
1 like
Hi Andrew, Thanks for the further clarification. This process improvement (adding the BPAY details to the stand alone Land Tax Clearance certificate) is currently being further explored as a change by PEXA and the SRO. Stay tuned for further developments.
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22-08-2016
04:37 PM
1 like
Hi Andrew, In relation to your question, all Land Tax Assessments can be paid electronically via BPAY, EFT and Credit Card. In addition land tax assessments can also be paid online via BPAYView. These details are found on the Land tax Assessment Notice for the relevant year. The SRO website www.sro.vic.gov.au also details the payment options available.
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22-08-2016
04:23 PM
1 like
I would be interested in the thoughts of 'the Community' on why in some circles conveyancing remains heavily tied to manual paper cheques ? Cheques are at odds with e-conveyancing, prone to risks, delays and settlement failure. How can we remove this as a 'barrier' to e-conveyancing and the realise the full benefits of operating fully in an online workspace?
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