Authority Update - Victoria - April 2017

The Victorian State Revenue Office (SRO) will be digitising stamp duty assessments and removing paper-based land transfer duty forms.

A new all-in-one online duties form will be mandatory in Victoria from 1 July 2017.

Property buyers and sellers, and their representatives will be required to use the online form for all contracts or agreements for land transfer duty entered into, on or after 1 July 2017.

Additionally, from 1 July 2017, the SRO will be required to collect foreign persons data for vendors and purchasers involved in land transfers in Victoria on behalf of the Commonwealth. The all-in-one online form will replace the existing 17 cumbersome, paper-based land transfer duties forms with a single, streamlined application.

This is expected to end double-handling, duplication and data inconsistencies, reduce red tape, help to lower administration costs and improve settlement completion rates. Key details will be linked and pre-populated into a Duties Online transaction for a faster and more agile assessing process.

The SRO will provide a series of industry presentations across Victoria, for individuals and Duties Online users, webinars and other information resources in coming months.

For a list of paper-based forms that will be decommissioned as part of this change and a list of FAQ's please see the SRO website

More details will be provided when announced.

Read more of Victoria 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.