Vendors now required to obtain Land Tax Certificate

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May 31, 2016

The law concerning the sale of property in New South Wales is dynamic.  The Conveyancing (Sale of Land) Regulation 2010 has been amended to require Vendors to obtain a Land Tax Certificate and annex it to a Contract for Sale. This to assure Purchasers that the land does not contain a charge for unpaid land tax.

The new law will make sure that Vendors are in the “taxation system” and have lodged Land Tax Returns which we understand can now be matched with federal taxation records.

 

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