Changes in beneficial ownership without changing legal ownership
Channel: SRO
Section: S7(1)(b)(vi)
Circumstances/Transactions
Dutiable transactions that result in a change in beneficial ownership of land that are not effected by a written instrument within 30 days of the transaction occurring.
Evidence
- Digital Duties Form.
- A copy of any contract of sale between the parties.
- A copy of any agreement between the parties.
- A statutory declaration stating whether any consideration has passed between the parties and if so provide details of the amount paid.
- Evidence of the value of the property by:
- a letter of appraisal from a licensed real estate agent and a copy of the rate notice, or
- a valuation from a certified practising valuer who is a member of the Australian Property Institute (API) or by a member of the Real Estate Institute of Victoria (REIV) with sworn valuer accreditation.
When to lodge
Lodge documents after settlement directly with the State Revenue Office.