FOR LAND CREATED DURING 2015-16 AND STILL OWNED AT 30 JUNE 2016Land Tax Assessment Act 2002 section 43A As at 1 July 2016 Section 43A of the Land Tax Assessment Act 2002 provides 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...
AICWA recently advised members of the decision by The Registrar of Titles Ms Jean Villani to introduce a change of lodgement processes by August 1st 2017.On August 1st this year, Landgate introduced changes to lodgement process affecting mortgagees, specifically, for the electronic lodgement of mortgages and discharges of mortgages (via PEXA).It is now envisaged that the next step towards paperless conveyancing is for the scope of eligible document types to be broadened so as to include: Transfers Caveats and withdrawals...
Why does it matter that ‘A1 Conveyancing are a BETA tester for CSolutions Pty Ltd Software solution of Setts Plus’ and what does it mean to you? A1 Conveyancing like to be able to deliver you the best stress free settlement service possible in updating Real Estate property ownership for you. We often volunteer to test leading industry innovations like CSolutions advanced integration into PEXA (e-settlement) to remain at the forefront of Customer Service & Innovation. CSolutions ‘Setts Plus’ software is a Western...
‘Talking property’, link to previous POD cast including 6/8/16 talking about Title Insurance 🙂#A1Conveyancing #SettlementsWA #SettlementAgenthttp://www.6pr.com.au/news/talking-property-for-summit-homes-group-20160131-gmhwwf.html
Contracts dated 1 July 16 on wards, will have the new requirements on ALL transactions with market value of $2 million or over. Unless the Seller provides an Australian Taxation Office (ATO) ‘clearance certificate’ for each registered proprietors name (matched to the title) to the buyer 2 business days prior to settlement (-timing subject to REIWA special condition).Then the Buyer must withhold 10% of the Purchase price (more specifically the ‘First element of the cost base’-Capital Gains Tax defined term)...
