Residential Withholding Tax payment
The Conveyancing details layout has been updated to provide for Residential Withholding Tax payments on both sale and purchase matter types. The “RW payment amount” will auto-calculate, based on the completed purchase price, for all items within the drop-down list which includes:
- Fully taxable supply
- Margin scheme
- 10% of GST exclusive market value
When “10% of GST exclusive market value” applies, complete the “GST exclusive amount” to enable the “RW payment amount” to auto-calculate. The Contract for Sale of Land 2018 edition has been updated to insert the RW payment amount on page 2.
To compliment these changes, the GST Withholding notification date has been added to Critical Dates in Calendar & Tasks for both sale and purchase matter types. For more information on setting Critical Dates appointments and Tasks, visit LEAP Communities.
In addition, the Deposit Bond Expiry Date and Date of Auction dates on this layout will now pre-populate from the corresponding Critical Dates when completed within Calendar & Tasks.
Provide feedback for these improvements here.