Changes to federal government legislation have driven a requirement for more information to be provided to the Australian Taxation Office when ownership of a property changes. This information has a crucial role to play in reducing tax errors and increasing tax compliance. The settlement industry will form the conduit between the buyers and sellers and the Government and will be requested to collect the data required by the ATO.
Conveyancers, property lawyers, and others involved in the process of buying and selling property in Western Australia will be important in gathering and inputting the required information. Specifically, their role will be to inform buyers and sellers of the information to be provided, and to enter this information into the portal during the settlement process.
We at Landgate are working with the industry to identify any training required, and to provide explanatory information that can be given to clients. A working group with industry representation has been created to co-design the data collection portal during the first half of 2017.
We will invite the co-design group to try the new Property Reporting Online (PRO) system. A variety of days and times will be available for the group to choose from.
All the sessions will be held at Landgate in Midland. All other settlement industry members interested in testing out the new portal are encouraged to contact us on 08 9273 7163 or email us at firstname.lastname@example.org.
For a comprehensive list of the information required see the ATO Property Reporting Requirements for WA
Launch of the ATO Property Reporting project is fast approaching. Our aim is to transition all buyers, sellers and property settlement professionals to the new requirements as smoothly as possible.
Every state and territory around Australia is implementing the data collection in accordance with individual state legislation. Landgate has developed a new Property Reporting Online (PRO) portal to capture the required information. The portal will be operational from late September 2017 and buyers and sellers are encouraged to provide information when requested by their property professional for any property ownership changes from that date.
New design and functionality for EAS
While developing the PRO system, Landgate has taken the opportunity to build a new and more usable interface for the existing Electronic Advice of Sale (EAS) system. Changes to this interface are the result of a co-design process with industry and we are confident that users will find it simple and intuitive to use.
The new EAS front-end will be introduced simultaneously with the launch of the PRO system. The existing EAS screens will continue to be available until the end of October, and training support will be provided to make transition as smooth as possible.
Training and other resources
The Property Reporting Online portal is accessed via your MyLandgate account.
Online training videos are being prepared to walk you through PRO and the EAS screens. All property settlement professionals are encouraged to familiarise themselves with the portal and the new EAS screens. These will be viewable on the MyLandgate page shortly.
Training sessions are being offered for settlement professionals on Wednesday, 13th September. Call Landgate on (08) 9273 7373 to register your interest in attending a training session at Landgate’s Midland office.
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