April 4 2019
Property Exchange Australia (Pexa) and is an e-conveyancing platform used by lawyers, conveyancers and banks to conduct property transactions such as the sale and purchase of properties.
E-conveyancing is designed to minimise the manual processes and paperwork associated with the sale and purchase of properties. The platform enables lawyers, conveyancers and banks to transact together online with real time lodgment at Land Victoria. It is designed to improve efficiency and transparency for the transacting parties. All documents are digitally “signed” by your
In Victoria you pay land tax on any property that you own when the capital improved value of the property or properties exceed $250,000 and you do not live in the property.
A land owner can be an individual, a company or a trust. Property that is owned individually or jointly is included in your land tax assessment.
The State Revenue Office of Victoria oversee land tax in Victoria. Land tax is calculated on the site value of all the land that you own at 31 December each year. You do not pay land tax on a property if you live in the property as your
If you sell a property and the sale price is $750,000 or more your conveyancer will apply for a Foreign Resident Capital Gains Tax Clearance Certificate (FRCGCC) on your behalf.
The FRCGCC is obtained from the Australian Taxation Office (ATO) and is required to be obtained by all vendors whether they are an individual, a company, a trust or a super fund and whether they are resident in Australia or not.
The FRCGCC is valid for 12 months. If a FRCGCC is not provided by a vendor, the purchaser is required to withhold 12.5% of the purchase price and pay this withheld sum
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Accessible Conveyancing acknowledges the First Nations People paying respect to Elders past, present and future as the traditional custodians of this land. We live, learn and work on the lands of the Bunurong and the Dja Dja Wurrung people of the Kulin Nation. 