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19-04-2018
yesterday
Karolidis_and_C
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At Karolidis & Co we specialise in cost effective legal and accounting services to startups and small business. Our award winning team provides the highest quality in legal and accounting services.
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Wednesday
1 like
I believe you still have to undertake the training sessions online for the system to recognise you as PEXA certified, regardless of the number of transactions: https://community.pexa.com.au/t5/PEXA-Certified/ct-p/GettingStartedwithPEXA
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19-12-2018
10:11 PM
Not sure Re the technically correct answer however if not legally required it is good practice to ensure an appropriate paper trail and authorisation to conduct the matter is in place.
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14-12-2018
02:28 PM
I don't think there is a way around this. The system will not let you lodge otherwise.
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12-12-2018
04:55 PM
3 Likes
Completed now. Missed it earlier somehow!
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12-12-2018
10:11 AM
3 Likes
Hi there That is my understanding of the process. Re timing - if Financial Settlement has occurred, funds are on their way. It is then subject to bank clearance times, however from experience most of our clients receive the funds within 24 hours.
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16-11-2018
05:43 PM
I don’t see an issue with this. We’ve had trustees transfer (VIC) to other trustees for no consideration and don’t see a SMSF making any difference. I do note that stamp duty verification may take longer as (at least in VIC) the exemption is treated as “complex” and needs to be manually assessed.
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16-11-2018
05:34 PM
Hi Neala Last time we checked subdivisions must be lodged outside of PEXA and there were no immediate plans to add this feature. Regards Nick
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16-11-2018
05:30 PM
1 like
Great to hear about your experience! Must say that having to call a few days earlier to obtain indicative figures shouldn’t be necessary. Let’s hope that becomes a standard disclosure via PEXA soon as the process should remove the need to make those calls...
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15-11-2018
12:14 PM
This appears to be covered here: https://community.pexa.com.au/t5/Ask-the-PEXA-Community/User-Workspace-Notification/m-p/13301#M4323 "the Subscriber Manager will still receive the email / notification even if/when the user adds their email address. Adding in the email address will ensure they receive the email as well, however, as the Subscriber Manager is the greatest level of authority within the PEXA System, and are responsible for monitoring the overall use of PEXA, they will always receive the notification as a default. Thank you"
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15-11-2018
12:12 PM
Happy to be corrected however it seems that the party who adds adjustments is the only party that can amend - we assume this is to prevent version control issues..
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12-11-2018
12:12 PM
2 Likes
Acceptable methods of destruction or invalidation The subscriber can elect to either securely destroy a pCT or render it invalid. An appropriate secure destruction method would be to shred the pCT and securely dispose of the shredding. The appropriate method of rendering a pCT invalid is to stamp the pCT as ‘INVALID – CANNOT BE USED FOR ANY LEGAL PURPOSE’. If a client requires the return of the invalidated pCT for sentimental or other reasons, the subscriber will be responsible to ensure that the pCT is invalidated in such a way that it cannot be used.
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12-11-2018
12:11 PM
1 like
Not sure if there is a solve for this but agree that it would be a great feature if not already. We have the same issue.
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12-11-2018
11:34 AM
My understanding is that whether it should be destroyed or marked invalid and kept for 7 years varies from State to State, see below for VIC: Convert pCT and Nominate eCT to Lodgement Case This type of Administrative Notice enables the CT Control to request the conversion of a pCT into an eCT, and its nomination to support lodgement of an electronic transaction in a Lodgement Case. These two processes cannot be decoupled. In the ELN, a Lodgement Case is an electronic file used to submit an electronic transaction to Land Victoria for lodgement. As part of this process, the subscriber is required to certify as to possession and destruction or invalidation of the pCT featured in the Administrative Notice. These certifications are included as part of the Administrative Notice. Acceptable methods of destruction or invalidation The subscriber can elect to either securely destroy a pCT or render it invalid. An appropriate secure destruction method would be to shred the pCT and securely dispose of the shredding. The appropriate method of rendering a pCT invalid is to stamp the pCT as ‘INVALID – CANNOT BE USED FOR ANY LEGAL PURPOSE’. If a client requires the return of the invalidated pCT for sentimental or other reasons, the subscriber will be responsible to ensure that the pCT is invalidated in such a way that it cannot be used. Possession of the pCT to be destroyed or invalidated The subscriber requesting the conversion and nomination of a pCT must have possession of that pCT at the time the conversion and nomination Administrative Notice is signed. This Administrative Notice type cannot be used for a pCT that is lost, stolen or missing. The correct procedure in these instances is to lodge with Land Victoria an Application for a new Certificate of Title in place of one lost or destroyed under Section 31 of the Transfer of Land Act 1958 available at www.dtpli.vic.gov.au/property>Forms, guides and fees.
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07-11-2018
04:55 PM
1 like
I would suggest recommending they appoint a professional agent (we've had a few opposing sides appoint GlobalX lately as their agent as we assume they are not registered/well versed with PEXA yet).
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07-11-2018
04:53 PM
1 like
Agree that the system should provide for this. A work-around at present is to create an Additional Fee (one that let's you input the number manually as opposed to calculate based on dates).
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07-11-2018
04:51 PM
1 like
I believe the normal process to correct would be to lodge via paper a name correction with Land Titles however this of course adds an extra fee and may not be suitable for timing. What are the options presented?
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17-10-2018
12:09 PM
4 Likes
17-10-2018
12:06 PM
2 Likes
Has there been any progress on this from PEXA - appears that some representatives are still suggesting purchaser's should load council rates, etc. We still believe the better approach is for the vendor to load these payments as they come from the balance due at settlement to the vendor, can anyone else please confirm their view?
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05-10-2018
11:48 AM
2 Likes
Agree - although it might be quicker if they just mobile optimise the browser. An app might take a while to develop.
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05-10-2018
10:44 AM
I agree with this suggestion - it is potentially a privacy issue otherwise.
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05-10-2018
10:39 AM
1 like
Hi @Emily - is there a minimum number of members a firm must have to qualify?
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04-10-2018
09:30 PM
1 like
I believe you obtain a “badge” on these forums. I know some members also receive a real “trophy” if they are supported members, not sure how that occurs.
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04-10-2018
03:23 PM
1 like
From the FAQs - in a nutshell you either have to use your trust account or the PEXA Source Account. Do I need a Trust Account to use PEXA? No, you do not need to have a Trust Account to use PEXA. You have a number of options: If you do have a Trust Account that is integrated with PEXA then you must use this if you wish to contribute source funds to a Financial Settlement. If you do not have a Trust Account (or have one which is not currently integrated with PEXA) then you have the option to use the PEXA Source Account to provide source funding – read more on this here You can participate in any PEXA Workspace without a Source Account linked to your Profile. Without a Source Account, you can lodge any document supported by PEXA as a standalone lodgement or participate in a transfer Workspace noting that you will not be able to contribute source funds on behalf of your client. Note: If you elect to join PEXA without using your Trust Account or registering for the PEXA Source Account, you can always add a source account at a later date.
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04-10-2018
03:14 PM
I would've thought this can be done on the one PEXA matter, represent all 3 vendors, 1 title. Unless 1/2 the land is being sold to different purchasers?
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04-10-2018
11:20 AM
1 like
I expect the answer to be no - I would suggest obtaining a new CA from the executor/s.
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03-10-2018
11:15 AM
I believe so, add all titles to the matter - although note multiple title transfer fee will likely apply instead of the standard PEXA fee.
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01-10-2018
12:38 PM
2 Likes
I believe once the transfer is successfully prepared the PEXA fee will populate automatically (you likely need to nominate the title to the workspace first).
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27-09-2018
03:26 PM
My understanding is that it would need to be repaid before settlement and they would need to liaise with SRO to have charge removed post receipt of payment before they'll remove the charge as the SRO do not yet have the ability to receive funds on settlement via PEXA.
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