No, duty rates are determined as part of the Budget process. The applicable rate of duty (including concessional duty) will continue to be based on the date of contract execution. The time for payment is simply be moved to 14 days after title registration. You can use the online conveyance duty calculator to get an estimate of the duty you owe.
After you lodge your documents with the Land Titles Office and your title is registered you and your legal representative (if applicable) will receive an electronic Notice of Assessment to your nominated email address with details of your duty liability. The time for payment is 14 days.
Payments must be made online using BPAY or Electronic Funds Transfer. This can be done by you or your authorised agent.
Payments can take up to 48 hours to be received and processed by our office.
Under the Barrier Free model your taxpayer account will not be created until the title transfer has been registered and a Notice of Assessment will be issued.
As the creation of the taxpayer account is a technical prerequisite to accepting a payment, it’s not possible to accept payment pre‑settlement or at the time of lodging documents with Access Canberra for title registration.
Interest is charged on late payments of duty. This process remains the same with the Barrier Free model. Penalty tax might be imposed in addition to interest if you have failed to meet obligations required by the law.
Any unpaid duty will be a secured debt against a property and this could result in the Commissioner for ACT Revenue commencing sale of property processes.
You are required to keep proper records of the transaction for 5 years under the Taxation Administration Act 1999, as with other ACT taxes. We may contact you after payment to conduct a review of the transaction and confirm your eligibility if you have claimed a concession or exemption.