Author Archives for admin

How will you manage change in 2018?

2/13/2018
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How will you manage change in 2018? Are you ready for: e-Conveyancing? GST remittance? VOI for paper-based transactions? The new version of the Joint form of General Conditions? Property Reporting Online And that’s just in the next 6 months!  What will the rest of 2018 serve up to conveyancers?Don’t get left behind!AICWA is proud to have partnered with sponsors and key industry stakeholders to deliver a broad calendar of training events. We are committed to assisting you by delivering quality training outcomes...


Number of practising WA Settlement Agents

2/5/2018
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A review of the latest licensing information for WA settlement agents reveals that in the last 12 months there has been a slight decline over most categories.  Given market conditions, natural attrition as well as unprecedented change it’s not surprising the total number of licences held in WA is down from 574 in 2017 to 554 in 2018.  Note: Information is current as of the 1st May 2018Source:2nd May 2018 AICWA e-Newsletter


Landgate require Verified ID & Authority for Buyers & Caveators

1/31/2018
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CIB 305 Change to Western Australian Registrar and Commissioner of Titles’ Joint Practice: Verification of Identity and Authority – fraud mitigation  31 January 2018 As foreshadowed and as part of their fraud mitigation strategy, the Western Australian Commissioner of Titles and the Registrar of Titles have updated their Joint Practice for Verification of Identity and Authority (VOI Practice) for paper-based transactions. The updated VOI Practice more closely aligns to the requirements for national electronic transactions.  The changes seek to improve...


GST Withholding – buyer of newly constructed homes & new subdivision properties.

1/25/2018
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Makes me laugh that “the Federal Government will strengthen compliance” BY MAKING OTHER PEOPLE DO THEIR JOB!!!! Yet another coming tax trap for buyers of new properties. GST Withholding.From 1 July 2018, the Federal Government will strengthen compliance with the Goods & Service Tax (GST) law by requiring purchasers of newly constructed residential properties or new subdivisions to remit the GST directly to the Australian Taxation Office (ATO) as part of settlement. Under the current law (where the GST is included in...


Selling to someone who is Demolishing

1/17/2018
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Smoke Alarms DMIRS Bulletin #78 Smoke alarms in dwellings proposed for demolitionWestern Australia’s Building Regulations 2012 require owners of residential dwellings to have compliant smoke alarms installed prior to the sale, transfer of ownership, rent or hire of the dwelling.  Changes to the Regulations that come into effect on 22 January 2018 provide an exemption for owners who are transferring ownership to a person intending to demolish the dwelling.This means the current owner of a dwelling that is subject to transfer...


New laws impose new levels of extra work.

1/7/2018
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With the imposition of new laws there are new & additional new levels of work involved towards the completion of your property settlement. The Australian Taxation Office and their Withholding tax implications for Foreign Resident and also the New GST on Residence, may expose both the buyer and seller to new compliance requirements and possible penalties, however if you believe these might apply to your settlement please inform your Conveyancer immediately to action and avoid penalties accruing on your side....