Compliance

Our compliance program focuses on individual transactions and electronic duties returns (EDR) clients who assess documents on behalf of customers.

Initiatives include:

• conducting audits on EDR clients, to ensure the conditions of approval are being adhered to, assessments are accurate, records are kept, systems and procedures adhere to the directions for using electronic duties returns PDF, 788.43 KB, and transactions are identified where duty has not been paid, or has been underpaid
• reviewing high-value property transfers
• identifying and investigating transfers of motor vehicle registrations, where the correct value has not been used to calculate the duty payable
• reviewing and investigating property transfers with a dutiable value over $3m, which may be liable to premium property duty if the correct amount of duty has not been paid
• reviewing and investigating recipients of the new home grant, where information available indicates that the grant has been paid to ineligible applicants
• using a range of data-matching initiatives, based on internal and external data, to ensure compliance by identifying transactions that have not been lodged for assessment
• reviewing and investigating landholder lodgements
• investigating referrals for landholder transactions, where the correct duty may not have been paid
• reviewing and investigating exemptions and concessions, including corporate reconstructions
• reviewing and investigating transactions involving surcharge purchaser duty.

Common errors for duties include:

• not reviewing the purchaser/transferee declaration PDF, 176.04 KB, to determine whether customers are ordinarily resident or foreign
• not aggregating transactions
• not complying with legislative and evidentiary requirements
• not following EDR procedures, including record-keeping
• using valuations that may not reflect accurate dutiable values when processing a transaction
• failing to declare the correct dutiable value when transferring the registration of a motor vehicle
• processing vacant land and non-residential transactions as off-the-plan
• not including GST in assessing liability for duty
• applying exemptions or concessions incorrectly when making assessments.