From 1 July 2019, all mainstream property transactions must be processed electronically.
You must be an Electronic Lodgement Network Operator (ELNO) subscriber to complete an eConveyancing transaction on behalf of a purchaser. Once subscribed, you can open an ELNO workspace to collaborate electronically with other parties involved in the conveyancing transaction and property settlement, including finalising payment of duty.
Currently, Property Exchange Australia (PEXA) is the only operational ELNO in NSW. Revenue NSW is fully integrated with PEXA. Sympli is working with Revenue NSW so that its system will be integrated when it enters the market.
The duties assessment is completed either in EDR or eDuties, a new portal that replaced the Revenue NSW paper-based lodgement process. The Duties document matrix will help you identify which system to use for specific transactions.
Property Exchange Australia Limited (originally known as National e-Conveyancing Development Limited) was formed in 2010 to fulfil a Council of Australian Governments (COAG) agenda item to deliver a national electronic conveyancing solution to the Australian property industry.
PEXA is a national platform that allows industry participants to electronically settle property transactions, lodge land registry documents and pay all financial disbursements.
Sympli is a collaboration between InfoTrack and ASX and has received Category 2 approval for commencement as an ELNO. Sympli is working actively with revenue offices across Australia.