We are improving the way Digital Duties Forms are claimed in Duties Online (DOL) and enhancing how DOL interacts with the electronic lodgement network operator, Property Exchange Australia (PEXA).
These changes are related to Land Use Victoria’s requirement for electronic lodgement only.
The changes, which apply from 26 November 2018, include:
Removing the create ‘Land Transfer Transactions’ button under DOL Duty Determination
The option to create new ‘Land Transfer Transactions’ under ‘DOL Duty Determination’ will be removed.
This aligns with Land Use Victoria’s requirement for electronic lodgements via PEXA.
All transactions that can be processed in PEXA must be completed under ‘Retrieve and Claim PEXA transactions in DOL’.
The transactions that cannot be processed in PEXA must be lodged as an SRO Duty Determination to be assessed by us.
Mandate of digital forms
All transactions must have a digital form completed, irrespective of the contract or transfer date. This includes both DOL and SRO Duty Determination transactions.
Share fractions where the denominator is greater than 3 digits
Share fractions in DOL will be increased from 3 digits to up to 8 digits for the numerator and denominator (e.g. greater than 999/999 fractions).
Prior to this enhancement any transaction where the denominator contained more than 3 digits could not settle electronically.
Additional trusts types
DOL will now allow custodian trusts and hybrid trusts to be processed as DOL Duty Determination transactions.
Trusts executed before 1 November 2008 will also now be able to be processed in DOL.
These enhancements mean you can process trust deeds in a more efficient and timely manner.
To process custodian or hybrid trusts in DOL, select these trust types from within the drop down list and then complete the remaining fields as required.
Custodian trusts will require beneficiary details to be entered and you will need to confirm that the trust is a complying super fund.
Guide to Transacting with Duties Online
We have created a Guide to Transacting with Duties Online to assist you to transact electronically using DOL and PEXA.
The guide includes the most commonly asked questions and explains how to resolve or avoid system related issues when interacting between DOL and PEXA.
To help you with the transition to electronic conveyancing, we are hosting webinars showing you exactly what you need to do to claim and complete a PEXA transaction in Duties Online (DOL).
The webinars will show you how to:
- Access stamp duty information in PEXA,
- Provide DOL users with access to claim PEXA transactions,
- Claim a PEXA transaction in DOL.