Authority update NSW: Processing Surcharge purchaser duty transactions is changing

What's Changing ?

From 9 October 2017 transactions involving Surcharge Purchaser Duty can now be processed using the NSW Electronic Duties Return (EDR) system. 

The automation of Surcharge Purchaser Duty in EDR means transactions processed through the system will no longer get assessed by Revenue NSW. 

Why is Revenue NSW making this change?

Revenue NSW is committed to the digital transformation of its Duties services. The EDR system allows authorised agents, such as SAI Global to process a wide range of transactions from their office. 

Who will this change impact?

All EDR authorised agents, Revenue NSW approved settlement rooms, including SAI Global and their clients, and legal firms who settle matters through Property Exchange Australia (PEXA) 

Are all Surcharge purchaser duty transactions on EDR?

No. The Duties document matrix will be updated to display which Surcharge purchaser duty transactions must be processed on EDR. 

From 9 October 2017, Revenue NSW will only accept documents that cannot be processed on EDR. The interim arrangements introduced in July 2016 will be discontinued. 

How can SAI Global assist?

Registered customers of SAI Global Search Manager can access EDR via the “Property” or “Settlement & Legal Services” menu tabs.

New customers of SAI Global Property will need to register to gain access to Search Manager.
Click here to have someone contact you to discuss how Search Manager can assist with your online stamping needs.

Over The Counter Service

SAI Global also provides an over the counter stamping service open from 8:30am - 4:15pm daily, at our Sydney CBD Settlement Room located conveniently on Level 3, 60 Castlereagh St, Sydney. Documents are stamped immediately by our experienced staff, and any issues that prevent stamping can be explained in detail on the spot.

For more information on Surcharge Purchaser duty go to www.revenue.nsw.gov.au/info/edr or for full guide see Changes to Surcharge Purchaser Duty.

Read more of New South Wales Authority Updates

Disclaimer: The information herein has been prepared by SAI Global Property Division Pty Ltd ACN 089 586 872 from information released by the Authority cited on this page. It is provided as general background information only; it is not complete; and it does not comprehensively address this subject matter. Readers should not consider the information so provided as advice nor as a recommendation to take any particular course of action. Persons needing advice should consult their own solicitor, accountant or other professional adviser.