Commonwealth Reporting - Frequently Asked Questions

When will the reporting commence?

The Portal will be available from 1 July 2017.

What are the reporting requirements from 1 July 2017?

Practitioners will be encouraged to commence entering data into the Portal from 1 July 2017. Entering data from this date will develop familiarity with new practices prior to mandating of the data collection, however it is acknowledged that this may not be feasible for all practitioners immediately from 1 July 2017. Therefore, practitioners will have the option of either accessing the Portal to provide additional data or continue to only provide existing data through RevNet.

From a date to be confirmed (but currently expected to be on or around 1 September 2017) the additional Portal data will become a pre-requisite for the purchaser’s representative when stamping a self-determination document via RevNet. Advanced notice of this date will be provided.

Once legislative amendments have been passed reporting of information in the Portal for both vendors and purchasers will be required. The expected date for the commencement of these requirements is currently 1 January 2018.

These key dates and how they impact on both purchaser and vendor requirements to provide the data are represented in the table below. Refer to the Commonwealth Reporting Data Fields to determine what fields will be mandatory in the Portal, once you are required to access the Portal, based on this table.

Date Portal Data Requirement (based on role)
1 July 2017 Purchaser: Optional Vendor: Optional
1 September 2017 (TBC) Purchaser: Mandatory Vendor: Optional
1 January 2018 (TBC) Purchaser: Mandatory Vendor: Mandatory

Which transactions are affected by these new requirements?

All real property transactions. Please refer to the following list of RevNet documents that are impacted by the new data requirements:

Commonwealth Reporting Documents

RevNet users will be automatically prompted by the system upon selecting a relevant document.

What new data is required?

Please refer to the following document for a list of required data:

Commonwealth Reporting Data Fields

Much of the new information is provided by an individual to their conveyancing agent as part of the Verification of Identity (VOI) process.

Who will report the data?

Data will be reported by the person conducting the transaction. For example, where a conveyancing agent (or similar representative) is employed, the agent will report the data. If a party is self-representing, they will report the data.

How do I access the Portal?

Existing RevNet Stamp Duty clients can log into the Portal using their existing RevNet credentials:

Existing User Log-in

If you are not an existing RevNet user then you can register for the Portal online:

New User Registration

What is the process and timing?

Agents will commence entering data into the Portal before accessing RevNet. The nature of some data lends itself to being captured, and entered into the Portal, around the time of VOI. Information which is not known at this point in time can be added or edited at a later date.

Once your Portal data is finalised you would follow the existing RevNet process: create a batch, add a document, complete the document details, calculate the duty, stamp the document, end and submit the batch.

Confirmation of the batch would immediately lock some Portal data from being added/edited. The locked data will be any data related to duty calculation, such as consideration and document date.

All Portal data will be locked from editing seven days after the provided settlement date. Amendments required after such time must be submitted to RevenueSA.

Will I need to access the Portal as a pre-requisite to RevNet from 1 July 2017?

Practitioners can commence entering data into the Portal from 1 July 2017 which allows familiarity with the new practices to be gained prior to the mandating of data collection, however it is acknowledged that this may not be practical for all practitioners immediately from 1 July 2017.

How will this affect RevNet transactions?

RevNet batches and documents, stamping and payment remains unchanged. Only the purchaser’s agent is required to submit transaction details via RevNet.

Will my nine-day RevNet batch expiry be impacted by commencing the Portal data entry process?

No, the nine-day batch expiry will continue to work as it currently operates. Reporting of data via the Portal should not impact the RevNet batch process. Practitioners can commence and finalise the Portal data entry as soon as practical in the settlement process.

If I act as a purchaser and need to stamp my document how do I ensure that the vendor provides their data?

Upon completion of the purchaser’s data entry, the portal will send the vendor’s agent an invitation, via email, to provide the data into the workspace for the vendor. From 1 July 2017 this will not be required to be completed and the purchaser’s agent can complete their stamping in RevNet without the additional information. If the legislation is passed to mandate the additional data then it will be a requirement that the vendor provide this data prior to stamping.

How can the purchaser compel the vendor to provide that data?

The scheduled settlement date should act as an incentive for both parties to fulfil their obligations to provide all data that is required. The Portal will be flexible to allow this data collection to commence as early in the settlement process as either party wishes to initiate it. RevenueSA will build functionality to remind both parties (the complying and non-complying) that there is incomplete data.

What happens if the purchaser is unable to stamp the Transfer (and therefore unable to settle) because the vendor has failed to provide the identity data to RevenueSA?

Under extenuating circumstances whereby the purchaser cannot complete the stamping due to non-compliance of the vendor to provide the data, the Commissioner can exercise discretion in relation to the collection of the vendor’s data and allow the purchaser to stamp the document. Such cases would be followed up with the vendor’s agent as post-settlement Compliance activities.  This will not be an issue until 1 January 2018 but RevenueSA would expect the overwhelming majority of transactions to be compliant by this time if the enabling legislation is passed.   RevenueSA will endeavour to make this transition as easy as possible for practitioners and taxpayers.

If I am acting as a vendor’s agent can I commence the Portal data collection?

To ensure complete data either party to a transaction will be able to initiate the Portal data collection process. Upon completion of the data in the Portal a user will invite the other party to complete the data that relates to their role.

Invitations will be generated from the Portal and sent via email.

RevenueSA believes that flexibility in this process is a key to a successful transition for practitioners and taxpayers.

How will purchaser and vendor data be matched together for a transaction?

The log in from the invitation process will match the two sides of the workspace together. In addition RevenueSA will perform a matching exercise in the event that both parties commence their data entry in the Portal independently.

Will my Portal data be visible to the other party?

The other party to the transaction or their agent will not be able to view your specific Portal client data.

How will the information be used by the ATO?

The information is proposed to be used by the ATO for the purpose of information-matching and ensuring compliance with the taxation laws of the Commonwealth. In addition, the information (which will include information about the nationality and residency of vendors and purchasers) is to be used for the purposes of a National Register of Foreign Ownership of Land Titles to be administered by the ATO.

The ATO also intend to make this data available to taxpayers for prefill and preparation of returns and activity statements.

Will training be available?

RevenueSA will conduct a number of webinars in early July. Webinars will be recorded so those unable to attend are able to view the demonstrations at their convenience.

What is the future roadmap for Stamp Duty Conveyancing following 1 July 2017?

RevenueSA is replacing the existing RevNet platform with an integrated, modern, mobility friendly platform. This is planned to be implemented to coincide with the new legislative amendments, around 1 January 2018.

This solution will integrate the additional Commonwealth data collection with the processing of stamp duty documents, for Commissioner based assessments and self-determination documents. The Commissioner based opinions will be submitted electronically following the completion of all mandatory data and will be able to be stamped in your office. Legislative amendments, if successfully passed, will change the stamping requirements – removing the burden of using either the manual rubber stamps or ageing technology slip printers.

This process will ensure that all stamp duty transactions can be processed through eConveyancing, unlike the current eConveyancing process which is limited to self-determined RevNet documents.

As this stage of the implementation progresses, RevenueSA will continue to provide updates to practitioners and consult with them to ensure their requirements are met. Our goal is to deliver a fully integrated system for all stamp duty lodgments and in doing so make the process as automated and user friendly as possible.

Where can I find more information?

This FAQs document will be updated as required. Please check back here periodically.

Contact Phone Number – RevNet Enquiries 08 8207 2333

Email – RevSupport@sa.gov.au

Draft Bill for these amendments

ATO resources relevant to the reporting initiative:

ATO's Privacy policy
Tax and Superannuation Laws Amendment (2015 Measures No. 5) Bill 2015
Tax and Superannuation Laws Amendment (2015 Measures No. 5) Bill 2015 - Explanatory Memorandum