Categories for Residential

Launch of Property Reporting Online service

18/10/2017
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New Commonwealth Government legislation came into effect on 1 July 2017 requiring more information to be provided to the Australian Taxation Office (ATO) when ownership of a property changes. This applies to all buyers and sellers across Australia. The requirements are a COAG initiative to enable the ATO to develop consistent and comparable datasets in the national database, which will reduce tax error and increase tax compliance.   Every state and territory is implementing the data collection in accordance with individual...

Subdivided lot concession-Land Tax Assessment Act 2002

26/9/2017
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Section 43A of the Land Tax Assessment Act 2002provides a concession for the amount of land tax payable on subdivided lots owned at 30 June each year.This concession allows subdividers to pay land tax and metropolitan region improvement tax on the lower undeveloped or englobo value of land holdings, rather than the full subdivided value of lots, for one year after the creation of the lots. The unimproved value of each subdivided lot still held at 30 June immediately preceding the...

SCAM ALERT – Did that person, really send you that?

19/9/2017
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In what is suspected to be a “man in the middle scam”, funds were unwittingly deposited by a purchaser into an east coast bank account in the lead up to a settlement and then transferred by the scammers to an overseas account resulting in a significant loss of $557,000. Typically, this type of scam will occur when the contents of person’s private emails are accessed and details of future financial transactions are seized upon by scammers. Victims will be contacted...

Verified ID to include Buyers & Caveats starting 28/8/17

22/8/2017
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All parties of a Landgate Transfer or Caveat (including withdrawal) documents will need to have verified ID starting 28 August 2017 but in full compliance by 28 February 2018. Self represented parties Verified ID will have an increased cost to consider from 28/8/17. bulletin_no_299.pdf Download File Change to Registrar and Commissioner of Titles’ Joint Practice: Verification of Identity and Authority – fraud mitigationAs foreshadowed and as part of their fraud mitigation strategy, the Western Australian Commissioner of Titles and the...