Land Transfer Duty - sro.vic.gov.au Transfer Duty and... · The webinar will commence shortly. Land...

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WELCOMEThe webinar will commence shortly.

WELCOMEThe webinar will commence shortly.

Land Transfer Duty and Duties Online

Webinar

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Land Transfer Duty and Duties Online

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Housekeeping

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Your presenter

Catherine Clarisse

Customer Education Unit

Agenda• How do I reset my password?

• Choosing a lodgement category when submitting a SRO Duty Determination lodgement

• Why are payments not allocating automatically to transactions?

• Statuses within Duties Online – what do they mean?

• Administration functions within Duties Online

• Interest on title – what does this mean?

• Concessions

Password resets - Demo

Let’s show you how to do itLet’s show you how to do it

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• Concessions

Lodgement categoriesThere are 20 lodgement categories within Duties Onl ine for

lodging complex SRO Duty Determination Lodgements.

Lodgement categoriesThere are 18 transfer of land and 2 declaration of trust lodgement categories

when lodging complex SRO Duty Determination Lodgeme nts.

Trust Exemptions & Concessions

Primary Production

Aggregation Sub-saleSale of

Business / Goods

Related or Associated

Party Transfers with Concessions

Deceased Estates

Partition / Nico

Re-Alignment of Boundaries & Discontinued

Roads

Fractional Interest

Bankruptcy Matters

Charities & Government

Bodies

Historical / Terms

Contract

No Double Duty

Adjustment to Dutiable Value

Conversion of Land Use

Entitlements

Breakdown of Relationship

Equity Release Program

Complex Declaration of

Trust over Dutiable Property

Complex Declaration of

Trust over Non-Dutiable Property

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• Concessions

Payment references

Payment references change for each transaction. If you use a

previous reference number, or type an incorrect ref erence number

the payment will not allocate to the transaction. T his is especially

important for Declaration of Trust transactions – as the Certificate

of Duty is not available until the payment has been allocated.

Payment references

In addition to being

shown on screen,

the payment

reference can also

be found on the

‘Detail Report’

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• Concessions

Transaction statuses – DOL Duty Determination

Status What does this mean?

In progress The data has been entered in relation to your transaction however have not acknowledged the estimate in preparation for

Ready to pay You have acknowledged your transaction and is now ready to commit to pay

Finalised You have committed to pay and finalised your transaction

Completed Payment has been received and allocated against your lodgement

Overdue Monies have not been received and/or allocated to your lodgement

Transaction statuses – SRO Duty Determination

Status What does this mean?

In Progress The data has been entered in relation to the lodgement, however it has not been submitted to SRO for duty calculation.

Submitted The lodgement has been submitted to SRO for duty calculation

Allocated The lodgement has been assigned to an SRO assessor

Returned The lodgement has been returned with a request for additional documentation

Ready to Pay You have been notified that a duty calculation has been completed by the SRO and therefore the lodgement is ready to be finalised

Finalised You have committed to pay and finalised your lodgement

Review The lodgement has been ‘taken back’ by the SRO Assessor for further processing

Manually assessed The lodgement has been formally assessed by the SRO

Impounded The SRO has impounded your lodgement

Cancelled The lodgement has been cancelled

Completed Payment has been received and allocated against your lodgement

Overdue Monies have not been received and/or allocated to your lodgement

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Changes to Declaration of Trust processes in DOL

A Certificate of Duty is only available after the p ayment

has been received and allocated by the SRO.

A Certificate of Duty will only be available once the transaction status is ‘Completed’.

Ensure that the payment is made after the transaction has been finalised.







• Concessions

User profilesThere are 3 user profiles within Duties Online:

Administrator

Lodger

Payment Schedule Approver

The Administrator is the general point of contact b etween your organisation and the SRO. This profile allows the User to:

• submit and amend a registration at any stage (e.g: make a change to the organisation's address, or submit the details of an additional User), and• reset User passwords.At least one User must have Administrator access.

The Lodger is the operational profile. This User is responsible for:

• the data entry associated with a duty transaction• reconciling that all information entered is an accurate reflection of what has been compiled in the appropriate SRO duties forms and other supporting documentation, and• acknowledging the duty estimate. At least one User must have Lodger access.

The Payment Schedule Approver profile is a payment reconciliation and sign-off profile and is responsible for:

• assigning payments for transactions that are ready for payment. This can be done on an individual transaction basis or the Approver also has the option to assign a bulk payment for several transactions,• finalising transactions after ensuring all data is correct, and• generating any available reports. At least one User must have Approver rights.

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Administration - Demo

Let’s have a look at the administration tab within Duties

Online

Let’s have a look at the administration tab within Duties

Online







• Concessions

Interest on title

The Duties Online system requires the User to enter the total interest in the property that is being transferred. In all cases, you will need to enter details pertaining to ALL Transferors and ALL Transferees as opposed to only those who are changing interest. The full interest in the property must be shown in Duties Online as per the title and transfer of land. This must be shown as 100 per cent. This can be expressed as either 1 of 1 or 100 of 100.

If a Transferor will also be a Transferee, their details must be entered in both the Transferor and transferee fields in Duties Online. By selecting that the Transferor will be remaining on title in Step 3, their details will then come across under the Transferee details.

In situations where multiple Transferees are listed you may have different shares. The interest acquired by each of the multiple Transferees must equal the total interest passing in the property being 100 per cent.

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• Concessions

ConcessionsDuties Online allows its users to process the follo wing duty exemptions and concessions:

• Principal Place of Residence concession

• First Home Buyer concession

• Pension Card Holder concession

• Land and Building (Off-the-Plan) concession

• Deceased Estates exemption(only where the transfer is in accordance with the will or probate)

• Marriage and Domestic Relationships exemption

• Breakdown of Marriage/Domestic Relationship exemption

• Changes in the Manner of Holding in Equal Shares exemption

• Transfers of Farm to Relatives’ exemption (only for natural persons)

• Sub-sale – Subsequent Transaction to Relatives exemption, and

• Transfers to trustees or custodians of Superannuation Fund or Trusts.

Concessions

Pension Card Holder Concession

Users are able to process pensioner concession or exemption transactions in the Duties Online. The User will be required to provide a valid Centrelink or Department of Human Services (DHS) registration card number (CRN) and the name of the cardholder. Duties Online will

make a system-to-system call to DHS and verify if the applicant is a valid cardholder. Duties Online will further confirm if the applicant has

previously received the pensioner concession or exemption.

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• Concessions

Question Time

Q&A

What is Electronic Lodgement?(ELM)

Select the SRO duty determination option within DOL

Select a lodgement category and enter core transaction data

Scans supporting documents and lodges online

SRO calculates the duty and sends the calculation back into DOL

DOL user finalises transaction

Makes payment to the SRO and lodges the title at the Titles Office

A series of six steps

DOL USER SRO DOL USER

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DOL Determination VS SRO Duty Determination

Allows you to process any of the

26 transaction types which can currently be processed via

DOL.

Allows you to access ELM to lodge your documents electronically to the SRO

for a duty calculation.

This functionality should be used to lodge any

transactions that can not be done under DOL Duty

Determination.

DOL has been split into two categories;

DOL Duty

Determination

SRO Duty

Determinationand

DOL Determination VS SRO Duty Determination

DOL has been split into two categories;

Here’s a screen shot of how the two categories are

presented within DOL

DOL Duty

Determination

SRO Duty

Determinationand

Foreign Purchasers

As part of the 2015/16 budget, the Victorian

government announced an additional duty of

3% for foreign purchasers of residential

properties.

The additional duty will apply to dutiable transactions where;

• The contract or agreement was entered into on or after 1 July 2015 and

• The transferee is foreign at the time the transaction occurs (usually

settlement)

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Foreign PurchasersVisit www.sro.vic.gov.au to access more information on Foreign Purchaser

Surcharge Duty.

Foreign Purchasers

To assist in identifying a foreign purchaser the SRO has introduced a

purchaser statement (duties form 62).

• One form must be completed per transferee for all transactions where

the contract or agreement is entered into on or after 1 July 2015,

irrespective of whether the transferee is foreign or not.

• If the transferee selects ‘yes’ in part C, D or E and ‘yes’ to part F of the

statement, the additional duty may apply. In these circumstances please

lodge your documents to the SRO via ELM until 28 September.

• From 28 September DOL will be enhanced and you can assess these

transactions in DOL.

Land Transfer Duty - sro.vic.gov.au Transfer Duty and... · The webinar will commence shortly. Land...

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