How the WA State Government is making it easier for property owners to fast track their settlements and refinancing The WA state government via Landgate has put forward a bill that has made your PAPER Duplicate Certificate of Title (record of your property ownership) invalid. What does this mean for WA property owners? The proposal is to make e-conveyancing or digital settlements and refinances easier for those people that have lost their duplicate Certificate of Titles. Previously clients without these...
A1 Conveyancing encourages you to stay secure online. Handy Article on how to password protect your email attachments. Create Password Protect Zip File in Mac By Xyla, Last updated: April 29, 2019 Having a password protect on all the zip files on your Mac is not actually a difficult thing to do. This method will not require you to have any add-ons or you do not have to download anything. Instead of this, you can just easily use...
Just a reminder that GST is now a query of every Residential contract dated on & post 1/7/18. Not just the obvious ‘new land or new builds’, since ‘New Residential Premises’ under the Taxation administration act, may still be quite aged properties!“The term ‘new residential premises’ is defined in s 40-75 of the GST Act:Residential premises are new residential premises if they:a. have not previously been sold as residential premises and have not previously been the subject of a long-term lease; orb. have...
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...
Some quick facts you need to know: All contracts of sale signed on or after July 1st 2017 where the consideration value is greater than or equal to $750k require a Clearance Certificate issued by the ATO. Failure to obtain a Clearance Certificate will require the purchaser’s agent (Conveyancer) to retain 12.5% of the sale price at settlement and remit funds to the ATO on the day of or shortly after settlement. General interest charge may be imposed on amounts...
