The SRO is cutting red tape for taxpayers by digitising stamp duty assessments and removing paper based land transfer duty forms.
A new all-in-one online duties form will be mandatory in Victoria from 1 July 2017.
Taxpayers and their representatives will be required to use the online form for all contracts or agreements for land transfer duty entered into, on or after this date.
Additionally, from 1 July 2017, the SRO will collect immigration data for vendors and purchasers involved in land transfers in Victoria on behalf of the Commonwealth.
The shift to the all-in-one online form will replace the existing 17 cumbersome, paper-based land transfer duties forms with a single, streamlined application.
This will end double-handling, duplication and data inconsistencies, reduce red tape, help to lower administration costs and improve settlement completion rates. The taxpayer information will be linked and pre-populated into a Duties Online transaction for a faster and more agile assessing process.
The SRO will provide a series of industry presentations across Victoria, FAQs (see below) for individuals and Duties Online users, webinars and other information resources in coming months.