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.
Most Conveyancers’ like Lawyers would charge and hourly rate especially for dealing with ‘out of scope’ or extra work involved. You may have opted to undertake these actions yourself, however if you want your Conveyancer to handle all the required, be prepared to pay them for the extra work.
Here at A1 Conveyancing we have decided that the hourly rate is probably the fairest way of handling the unknown, however we have undertaken extra training at our cost to improve our knowledge in handling these matters for you. As such we are thinking of a capped surcharge on a user-pay model where a small surcharge is applied only as warranted, rather than impose an indefinite hourly charge. Giving our clients more certainty of their costs.