RevenueSA values the input provided by a broad range of bodies in relation to a variety of different technical documents such as Bills, Regulation amendments and revenue publications.
Changes are proposed to be made to the reporting requirements, processes and systems (including to RevNet) relating to transfers of real property in South Australia over the coming year. These changes are necessary to help the State meet its reporting obligations for Commonwealth Government’s initiatives on Third Party Reporting and National Register of Foreign Ownership of Land Titles.
These developments are a joint initiative between RevenueSA and the Lands Titles Office.
The existing requirement for a conveyancer or practitioner to conduct verification of identity checks for Property sales means that most, if not all, of the required information will already be available for input into the new Portal.
It is proposed that the finalisation of the system will see a new approach to providing evidence for stamping of documents/instruments in South Australia. Following the proposed legislative amendment, evidence of stamp duty payment will be provided in the form of a PDF Stamp Duty Certificate and a written unique reference number, thus eliminating the need for Slip Printers and manually completed rubber stamps.
This solution will provide the benefit of reduced stamp duty document types and will deliver other user benefits such as compatibility with mobile devices and improved visibility of the progress of opinion assessments.
Additionally, the capacity to transact all real property through eConveyancing will be available as each instrument will be allocated with a unique reference number, where currently eConveyancing is limited to RevNet self-determination documents.
Proposed amendments to the Taxation Administration Act 1996 and the Stamp Duties Act 1923 to facilitate the changes are detailed in the draft Statutes Amendment (Taxation) Bill 2017.
Please email comments in relation to the proposed legislation changes by COB 9 June 2017.
For enquiries please ring RevenueSA on (08) 8226 1588.
In the 2016-17 Budget the Government announced that from 1 July 2017, a wagering tax of 15% would apply to wagering operators with net South Australian wagering revenue of $150 000 per annum or more.
Since then RevenueSA has been consulting with industry to agree an appropriate administrative regime for the tax.
The proposed administrative regime is detailed in the draft Authorised Betting Operations (Taxation) Variation Regulations 2017 and the draft Guide to Betting Operations Tax publication.
Please email comments in relation to the proposed regulations and publication by COB 4 June 2017.