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Australian Institute of Conveyancers

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25.01.2022 Update: Abolition of Certificates of Title - information for practitioners and the public If you have any clients looking for more information, refer them to the Abolition of Certificates of Title page which has been written with both practitioners and the public in mind. It has latest information on recent changes to legislation, the key changes to come into effect from 11 October and includes a link to a recording of the 7 September webinar. Read more below: ... https://www.registrargeneral.nsw.gov.au//abolition-of-cert

24.01.2022 Update: Contract Review and Preparation Effective from 11 October 2021 there will be two settlement options available for those transactions involving a paper dealing (now referred to as Dealing with Exception as of 7 September in PEXA): Option 1: Physical settlement with paper documents lodged through the ELNO. ... The lodging party will create a workspace, select Dealing with Exception and upload and attach the scanned pdf. This is repeated for each document. The documents cannot be uploaded into one scanned image. Evidence is retained by the person who digitally signed in PEXA. Option 2: Digital settlement with paper documents lodged through the ELNO. The workspace is created by a party in the usual way and all participants are invited in. Each participant creates their own paper dealing and attaches the dealing to the workspace as an image. The financial aspect is completed in the workspace. Each participant retains evidence for their own document. In both scenarios, stamping must be done outside of PEXA. IMPORTANT: Option 2 will NOT be available until the Financial Institutions are enabled - currently not expected to be until in early 2022.

23.01.2022 Update: Don’t ignore a Subscriber Compliance audit request The Registrar General has published a note on the ORG website cautioning Subscribers against ignoring an audit request. The email will come from the email address [email protected] and you should also add this email address to your safe senders / exceptions list to ensure that it doesn’t land in your junk or spam folders. If you have doubts about the validity of the Compliance Examination, please contact NSW LRS using a telephone number from an independent resource (not the email) promptly.

23.01.2022 Update: Build to Rent Scheme Commences The Build to Rent scheme announced a few weeks back commenced on 12 February with the release of the Guidelines and the appropriate amendments relevant SEPPs. The Guidelines can be found below. The scheme will have land tax and land tax surcharge implications. See the RevenueNSW webpage below.... An overview article by Mills Oakley can be found on the Lexology website below: https://www.aicnsw.com.au/weekly-news-update-18-2-2021/

22.01.2022 Occupation Certificate Audits can help drive behavioural change: NSW Building Commissioner Corrs Chambers Westgarth (CCW) recently hosted a briefing session in which NSW Building Commissioner, David Chandler OAM spoke with financiers about how the the Occupation Certificate Audits process will work and encouraged the audience to require borrowers to produce the results of an OC Inspection as part of their lending obligations. An article by CCW with a useful overview of the me...eting can be found on Mondaq below: https://www.mondaq.com//occupation-certificate-audits-can-

21.01.2022 UPDATE: New electronic dealings delayed Further to last week's item about new electronic dealings expected to become available from 9 November, the Office of the Registrar General has advised that the deployment of the upcoming PEXA platform release, including the twenty-four new residual documents, will be delayed. We will advise as soon as we become aware of the rescheduled date.

21.01.2022 Update: Land Tax Threshholds for 2021 Revenue NSW has published the Land Tax rate and threshholds for 2021 on its website, read below: https://www.revenue.nsw.gov.au/taxes-duties-levies/land-tax

20.01.2022 Query Guidance Note #7 | Guidance for e-settlement subscribers and their instructing practitioners ARNECC has published Guidance Query #7 which explains the application of the Model Participation Rules where an e-settlement subscriber is engaged regarding: - verification of identity, -proper completion of a Client Authorisation,... -verification of right to deal, - certifications, - retention of evidence, and - compliance examinations NB: The note aligns with the current Version 5 of the Model Participation Rules Read more below: https://www.arnecc.gov.au//mpr-guidance-query-e-settlement

20.01.2022 Update: Legislation proposed to permanently permit the use technology to hold meetings and sign and send documents The Federal Government is seeking stakeholder views on exposure draft legislation to support companies and their officers to use technology to satisfy Corporations Act 2001 requirements. These reforms would make permanent the temporary relief measures currently in place to facilitate the use of technology in meetings, to execute documents and send meeting-relate...d materials. Read more below: https://lnkd.in/g2-ehhDA

17.01.2022 UPDATE: Code of Conduct for short-term rental accommodation starts 18 December The new Code of Conduct for short-term rental accommodation starts on 18 December 2020. The Code seeks to better manage and address anti-social behaviour, amenity impacts and other issues experienced by neighbours and communities, The Code affects all participants, including hosts, guests, letting agents and booking platforms. Read more below:... https://www.fairtrading.nsw.gov.au//changes-to-short-term-

15.01.2022 Update: NSW LRS Christmas Closure In addition to the usual public holidays, NSW LRS Lodgment Office will be closed on Tuesday 29 December 2020, Wednesday 30 December and Thursday 31 December 2020. If you are not able to use online options for lodgment or enquiries on these dates, bookings can be made via the Contact Centre to arrange a time to lodge documents or conduct an over the counter search.

14.01.2022 PEXA webinar today NSW Leases: TODAY Thursday 2 September 2021 from 12.30pm-1.30pm Join the Virtual Hub Team as we discuss NSW Leases, demonstrate how to complete a Lease and Variation of Lease in PEXA as well as explore where you can find useful Help Resources.... Register below: https://bit.ly/3Byv6ox

13.01.2022 Update: Design & Building Practitioners Regulation 2020 The NSW Government is seeking feedback on the draft Design and Building Practitioners Regulation 2020. The draft Regulation is part of the reforms to strengthen accountability and improve compliance in Class 2 buildings, particularly multi-story residential apartments. ... Submissions close 5:00 pm 11 January 2021. https://www.haveyoursay.nsw.gov.au/design-building-practiti

13.01.2022 Have you registered yet for our November Webinar? Join us on the 25th of November at 1pm. Our session will cover online creation and execution of property sale contracts. Register below: https://bit.ly/32CJvkG

13.01.2022 Update: PEXA Tip If a Corrective Payment is required, the PEXA platform will initiate this process. This is a default setting for Subscriber Managers and can be set up for other PEXA Users to either have visibility and/or the ability to sign off on Corrective Payment details. Learn more: https://lnkd.in/gK3cGfpb

12.01.2022 Update: Revenue Ruling DUT 051 Landholder-Charge on the Land A new duties revenue ruling DUT 051 explains that the landholder will be jointly and severally liable for landholder duty and the liability of the landholder is a charge on the land for which a caveat can be registered.... Read more below: https://bit.ly/3lzVjwT

11.01.2022 Draft MOR and MPR version 6.1 consultation closing soon A reminder that the ARNECC consultation period for Version 6.1 of the Model Operating Requirements (MOR) and the Model Participation Rules (MPR) ends 6 November 2020. Members not wishing to make a formal submission can send any comments to [email protected]... For more information head to the below link: https://www.registrargeneral.nsw.gov.au//arnecc-model-oper

10.01.2022 Update: Preparations for the new foreign investment reforms Due to foreign investment reforms, the FIRB Application Portal, which is used for non-residential real estate applications, will need to be taken off line and updated. During this period, the Portal will not be able to accept foreign investment applications. For information on temporary arrangements, please go to link below.... https://firb.gov.au//preparations-new-foreign-investment-r

08.01.2022 Update: Free webinars on the Learning Centre Did you miss last Saturday's September webcast? Don't panic! The three session on Cessation Day, Caveats & Priority Notices - protecting your interest and How your cyber policy operates in a cyber attack will all be available soon for free on the Industry Information page of the Learning Centre. While you're there, check out the information videos provided by some of our industry partners and also the link to the Revenue NSW Webinars and Training Videos page.

07.01.2022 Update: All developers to provide fibre-ready facilities for all new building lots and units The Telecommunications Amendment (Infrastructure in New Developments) Act 2021 has received Royal Asset and came into effect on 17 February 2021. The Act amends Part 20A of the Telecommunications Act 1997 and requires that all developers ensure that all building lots or units have fibre-ready facilities installed before they are sold or leased. The amendments also insert a new defin...ition of ‘functional fibre-ready facility’ to make it clear that a fibre-ready facility must be technically capable of being used in connection with an optical fibre line (ie it must not be blocked or otherwise rendered unusable). Read more below: https://www.aicnsw.com.au/weekly-news-update-25-2-2021/

07.01.2022 Update: Save the Date - 2021 Annual General Meeting Please see the Notice of Meeting sent out to all members on 1 September which provides further details and a proxy appointment form if you are unable to attend the AGM. If you would like to attend we have set up registration on our Events Registration Page and would ask that you register to attend no later Friday 8 October 2021 so that we can ensure you have the necessary information to access the meeting.... Register below: https://register.aicnsw.com.au/ccms.r

07.01.2022 Update: MPRs (v7) consultation to close shortly The consultation period for next version of the Model Participation Rules will end on 6 September 2021 so that ARNECC has time to consider all stakeholder feedback before releasing the final version. These changes (together with the proposed Model Operating Requirements) are the next step toward interoperability. Version 7 is expected to come into effect in December 2021.... Both upmarked and clean versions of the proposed MPRs, together with explanatory notes, can be found at the link below. https://lnkd.in/gnqH2eEV

06.01.2022 Join us on Saturday the 25th for another complimentary webinar. Kicking off at 12.30pm this will be one webinar you don’t want to miss. Register below: https://sites.google.com/view/aicnswseptwebcast/home

06.01.2022 Update: Does your business have a Covid 19 Safety Plan As we edge closer and closer to the end of lockdown and a possible return to normal working life, business owners will need to consider what COVID-19 safety plans and risk assessments they need to implement to keep employees and clients safe. So, how does a business assess and control coronavirus risk? Read more: https://lnkd.in/gtyRP8bi

05.01.2022 Update: Countdown to Cessation Day - Timeline for the last paper lodgements As LRS NSW will be unable to process any lodgments made in paper on and from 11 October it is essential that for any paper dealing lodged at the NSW LRS Lodgment Office (whether by post or over the counter) to proceed to registration, all required CTs, CoRD Consents, and letters of authority required must be provided by close of business (4:30 pm) on 8 October 2021. For further details regarding the various lodgment types cut-off dates please see LRS announcement: https://www.nswlrs.com.au/About/About/Announcements/155

05.01.2022 Update: New single- party eLease available From a new single-party electronic lease (eLease) dealing form is available through Property Exchange Australia (PEXA). The new version of the eLease will replace the existing two-party eLease.... Read more below: https://www.aicnsw.com.au/weekly-news-update-18-2-2021/

05.01.2022 Education Days are back for 2021! Book now to avoid disappointment: https://register.aicnsw.com.au/ccms.r

03.01.2022 Update: Personal Tax Tables Following the changes to personal income tax thresholds announced in the Federal Budget, updated tax tables are now available on the ATO website. The new tax tables will apply to payments made on and from 13 October 2020.... As the changes to withholding are made part way through the income year, employers and other payers who are unable to immediately implement these changes into their payroll will have until 16 November 2020 to do so. Read more here: https://www.ato.gov.au/rates/tax-tables/

02.01.2022 Don’t forget to register for our complimentary webinar on Saturday. We are looking forward to seeing you all there (virtually of course)!

01.01.2022 UPDATE: HomeBuilder program extended to 31 March 2021 The Government announced that the HomeBuilder program has been extended to 31 March 2021. New parameters however will apply to those building contracts exchanged between 1 January and 31 March 2021. Read more: ... https://treasury.gov.au/coronavirus/homebuilder See more

01.01.2022 Have you signed up to our Parramatta Evening Seminar yet? It will be held on the 9th of March. The session will cover: - Notices to Perform (or to complete) in an Electronic Environment - Stratas Large and Small ... Register below: https://register.aicnsw.com.au/ccms.r|2&K1=&F1=&F2=&F3=&F4=&F5=&F6=Search&F7=&F8=&F9=Search&F10=&M1=&Y1=&W1=&SearchLast=0&SearchCmd=&ROXY=0x00000000e5446c09