If you wish to purchase land you are required under the Duties Act 1997 to complete a Purchaser/s Declaration. This Declaration is completed by each person entering into a transaction that results in the acquisition of an interest in land in New South Wales.
The purpose of this Declaration is:-
* Commonwealth Reporting Requirements is to collect and report to the Australian Taxation Office information on transfers of land in NSW;
* Surcharge Purchaser Duty is to inform the Duties Office whether a transaction is subject to surcharge purchaser duty; and
* Surcharge Land Tax is to identify foreign persons for surcharge land tax purposes.
The supporting evidence required for an individual purchaser/transferee are:-
* If an Australian citizen, a certified copy of your Birth Certificate or Australian Passport or Australian Citizenship Certificate.
* If a New Zealand citizen, a certified copy of New Zealand Passport and evidence of holding a special category visa within the meaning of Section 32 of the Migration Act 1958.
A person who is ordinarily a resident in Australia requires:
* Certified copy of Foreign Passport with your current visa
* Movement records from immigration for the 12 month period preceding the date of agreement.
It is therefore important to bring your original Birth Certificate (or equivalent document mentioned above) when meeting with your solicitor/conveyancer for a transaction involving acquiring an interest in land.
At Everingham Solomons, we have the expertise to assist you in your property transactions because, Helping You is Our Business.
Click here for more information on Suzanne Hindmarsh.
Are you wanting to sell or buy land in NSW? From 1 May 2016, the NSW Land and Property Information (LPI) under Section 12E Conveyancing Rules of the Real Property Act 1900, announced the Verification of Identity Standards (VOI Standards) will be applied to all land transactions. Without a VOI you cannot buy or sell land.
Verification of Identity (VOI) is a process to identify a party/parties to a conveyancing transaction. The VOI framework has been introduced to reduce fraud and improper land dealings.
So what does this mean for you if you are selling or buying property in NSW? When you visit your solicitor/conveyancer, you will need to provide original up-to-date identification documents to enable your solicitor/conveyancer to take reasonable steps to identify you when acting on your behalf in a property transaction.
These requirements include a face-to-face interview and the production of certain identification documents. A photograph is taken of yourself together with your documents. There are 6 categories, however, the majority of people utilise the following categories:-
Category 1:
Australian/Foreign Passport
Plus Australian Driver’s Licence/Photo Card
Plus Marriage Certificate/Change of Name if necessary
Category 2:
Australian/Foreign Passport
Plus full Birth/Citizenship/Descent Certificate
Plus Medicare/Centrelink/Department of Veterans’ Affairs Card
Plus Marriage Certificate/Change of Name if necessary
Category 3:
Australian Driver’s Licence/Photo Card
Plus full Birth/Citizenship/Descent Certificate
Plus Medicare/Centrelink/Department of Veterans’ Affairs Card
Plus Marriage Certificate/Change of Name if necessary
The VOI is valid for a period of 2 years. If you buy and sell property frequently, the VOI process is only required once every 2 years if you remain with the same firm of solicitors/conveyancers.
If you are unable to visit your solicitor/conveyancer due to distance, you have two options. The first option is downloading an app onto your phone or tablet and following the apps instructions. The second option is attending at a participating Australia Post outlet. Your solicitor/conveyancer will be able to provide you with the relevant information and forms required for these two options.
At Everingham Solomons, we have the expertise to assist you in all your property transactions because, Helping You is Our Business.
Click here for more information on Suzanne Hindmarsh.
If you wish to purchase land you are required under the Duties Act 1997 to complete a Purchaser/s Declaration. This Declaration is completed by each person entering into a transaction that results in the acquisition of an interest in land in New South Wales.