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settlement services WA

What is GST Withholding? How Does It Impact Buying/Selling?

GST withholding Impacts Buying Selling

In the traditional property conveyancing process, be it in Perth or any other area in Australia, the property developers have in the past, shied away from paying the Goods and Services Tax (GST) to the government. However, with eConveyancing becoming the norm, the federal government seeks to put an end to this practice by enacting the policy of GST withholding. Announced in the federal budget of May 2017, the policy of GST withholding aims at ensuring compliance of GST rates by the property dealers, purchasers or settlement agents in Mandurah and other places while selling/purchasing properties. According to this policy,…

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4 Benefits Of e-Conveyancing You Should Know About

e-conveyancing benefits

In a historic law passed by the Australian government, e-conveyancing has been made mandatory from December 1st of 2018. The introduction of this new technology is all set to make buying and selling of properties easier, faster and more conveniently. What is e-conveyancing? The processing of all property transactions electronically is known as e-conveyancing. Since manually filing these will cost you a lot of time and money, the Australian government set up the electronic system, which is also known as PEXA (Property Exchange Australia Limited). The PEXA system allows monetary and legal processes relating to a house sale get completed…

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