Update to the Foreign Resident Capital Gain Withholding Tax
May 25, 2017
It has been a Registrar’s Requirement to lodge standalone Caveat and Withdrawal of Caveat dealings at Land Use Victoria using the PEXA electronic settlement platform since 1 December 2017.
From 1 March 2018, the following dealings can no longer be lodged in paper form at Land Use Victoria, unless they are lodged with other dealings (e.g. Discharge of Mortgage, Withdrawal of Caveat, Mortgage):
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- Application by Surviving Proprietor.
- Transfers that can be lodged using PEXA. Examples would be:
- Unencumbered land being sold to a buyer who also does not
- have a mortgagee, i.e. a two party transaction.
Transfer between related parties, where the mortgagee (if any) nominates the Certificate of Title.
These dealings if standalone will also have to be lodged using PEXA.
Contact Glenferrie Conveyancing for more information.
