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TAS Conveyancing & Property

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Conveyancing and Property – ARNECC form – All States

The following form has been created for the purposes of ARNECC being a Federal based form and this form has been shortcut to the appropriate locations for each state:

  • Client authorisation [LL-FED-GEN-056]

The following forms have been replaced by the abovementioned form:

  • Client authorisation [LL-NSW-PR-638]
  • Client authorisation – 2 persons 1 card [LL-NSW-PR-638a]
  • Client authorisation [LL-VIC-PR-442]
  • Client authorisation – 2 people 1 card [LL-VIC-PR-442a]
  • Client authorisation [LL-ACT-PR-306]
  • Client authorisation – 2 persons 1 card [LL-ACT-PR-307]
  • Client authorisation [LL-NT-PR-0177]
  • Client authorisation [LL-QLD-PR-290]
  • Client authorisation [LL-WA-PR-113]
  • Client authorisation [LL-SA-PR-0088]

By having one form allows us to update any changes made by ARNECC to the forms immediately across all states.

The location of the new form can be found in Practice Management > Administration.

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Conveyancing and Property – ARNECC form – All States

The following form has been updated in accordance with the recent updates with ARNECC’s Model Operating Rules & Model Participation Rules Version 6:

  • Client authorisation [LL-FED-GEN-046]

Note: The interactive PDF version of the Client Authorisation form has been reproduced in the same format that ARNECC have published their interactive PDF – pages 2 and 3 of the PDF document appears to be blank however, these act as “placeholders”. The full documents consisting of 4 pages etc are there and this will display when you go into Print preview mode and/or when the document is printed.

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TAS – Stamp duty (Quick Calculator and Conveyancing details table)

Updates have been made to the Quick Calculator and Conveyancing details table in LEAP Desktop.

The Concessions and Benefits section has been simplified to make it easier to apply the relevant concessions type for a transaction – the different Concessions type can be selected from the drop-down list (First Home Owner Grant, First Home Buyer duty concession, Pensioner (downsizing) duty concession). Once selected the relevant deduction amounts will display in the Payable amounts section:

To ensure that Stamp duty payable is calculated correctly in your Conveyancing & Property matters, please ensure that the Contract Date has been completed in Calendar & Tasks (Critical Date & Calendar Items):

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Stamp duty fields

The stamp duty fields have been renamed to assist in identifying the relevant stamp duty fields for each state and territory (when inserting them in precedents).

All stamp duty fields will now have the prefix naming convention of SD (Stamp Duty)  and the relevant state or territory:

State Current display name Updated display name
NSW Stamp duty display [SD NSW] Stamp duty payable
VIC VIC SD on transfer (Short text) [SD VIC] Stamp duty payable
TAS TAS Duty Payable [SD TAS] Stamp duty payable
WA WA SD Rate – Payable Amount [SD WA] Stamp duty payable
NT NT Stamp Duty display [SD NT] Stamp duty payable
QLD QLD SD Stamp Duty payable [SD QLD] Stamp duty payable
ACT ACT Stamp Duty display [SD ACT] Stamp duty payable
SA SA Duty – Payable [SD SA] Stamp duty payable

As each state and territory has different transfer duty rates (as well as varying exemptions and concessions), please ensure the correct field is using when inserting them in your precedents.

Details on other fields in LEAP that have been prefixed are outlined in this previous LEAP Forms Blog post.

Further details on how to insert fields into your precedents in LEAP can be found in this LEAP Community article.

 

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Conveyancing details – GST Residential Withholding Payment field

GST Residential Withholding Payment field (from the Conveyancing details table) has been updated to round down the relevant figures to the closest dollar:

This is in alignment with the ATO’s requirements that the supplier notification where the amount withheld is to be rounded down to the closest dollar.