AICWA Briefing and Industry Forum December 2016
Landgate briefed the AICWA Council and an industry working group at separate meetings during December 2016. The purpose of the briefings was to explain that conveyancers, property lawyers and others involved in the process of buying and selling property will be responsible for gathering the required information from their clients (buyers and sellers) and inputting it into the data portal. Click on the links below for a summary of discussions at the industry forum in December 2016.
At the industry working group meeting, industry representatives were invited to become involved in a small task force to work with Landgate to co-design the data portal. The data portal will be developed collaboratively during the first half of 2017 with regular progress reports provided to industry.
Legislative amendments in Western Australia are being pursued to require buyers and sellers to provide the information requested by the governement.
At the Industry Forum in December, discussion was held around the option of a small task force to contribute to the legislative amendment process. The formation of this group is still to be determined and updates will be issued when appropriate.
The Commonwealth legislation came into effect on 1 July 2017 and each state or territory will develop or amend its own legislation and method of collecting the information. Currently the individual states and territories are at varying stages of rollout of both legislation and information collection.
In Western Australia, this initiative is being led by Landgate, supported by the Office of State Revenue. The state government encourages parties to a land transfer to do their part to ensure an efficient Australian taxation system.