As at 31 July 2017 the Office of State Revenue and State Debt Recovery are now called Revenue NSW. The new name and visual identity will help achieve greater awareness and understanding of the role the combined organisation has in delivering effective revenue management that supports and enables government priorities.

Through our services, we deliver Government priorities to ensure a safe, fair and prosperous New South Wales. Revenue NSW delivers $28 billion annually for health, education and other government priorities by collecting revenue, resolving fines and recovering debt, while administering grants for small business investment and housing affordability.

There will be no to minimal impact on customers. Redirect options will be in place from a more mobile-friendly website. Revenue.nsw.gov.au and all functions, administrative and legislative powers continue under the new Revenue NSW name.

Duties update

Updated purchaser/transferee declaration

In response to customer feedback, Revenue NSW simplified the purchaser/transferee declaration. The changes reduce red tape and make the forms easier to complete. There are now two versions of the declaration, one for individuals and one for non-individuals. Both forms are available on the Revenue NSW website.

Information collected through the declaration is necessary to meet commonwealth reporting requirements and Revenue NSW responsibilities to administer the Duties Act 1996 including the identification of foreign persons for the purpose of surcharge purchaser duty and surcharge land tax.

Each form has explanatory notes and requirements for supporting evidence. They can be completed as a fillable form on your computer. Each purchaser/transferee needs to compete their own declaration, once completed it must be signed and witnessed in accordance with the Oaths Act 1900. An authorised witness in NSW includes:

  • Justice of the peace
  • Notary public
  • Commissioner of the court taking affidavits
  • Legal practitioner, i.e. a solicitor or a barrister with a current practising certificate issued under part 3 of the Legal Professionals Act 1987
  • Any person authorised to administer an oath.

Purchasers “off the plan” Section 49A Duties Act 1997

Due to amendments introduced in the June budget, off the plan duty deferral eligibility will require early determination from conveyancers to confirm when duty is payable. The section now includes a residence requirement for off the plan purchase agreements entered into on or after 1 July 2017. The following criteria must be satisfied or duty is payable within 3 months of the date of agreement to avoid incurring late payment interest:

  • No purchaser or transferee can be a foreign person (within the meaning of chapter 2A)
  • At least one of the purchaser’s or transferee’s must be natural persons (individual)
  • At least one natural person must occupy the property as their principal place of residence
  • The person occupying the property must reside in the property for a continuous period of at least 6 months, with occupation commencing no later than 12 months from completion

Off the plan agreement means an agreement for the sale or transfer of dutiable property, being land on which a residence is to be erected or developed before completion of the sale or transfer.

Note. Section 49A does not apply to agreements for sale or transfer of vacant land or commercial property.

To avoid incurring interest on the duty payable Revenue NSW recommend that you have your clients complete the purchaser/transferee declaration early, all the points above are addressed in the declaration allowing you to have a clear understanding of their eligibility for off the plan duty deferral. For more information, visit www.revenue.nsw.gov.au.