Commonwealth Reporting

All states and territories are required to collect additional data for real property transfers to contribute to a National Register of Foreign Ownership of Land Titles. This requirement is initiated by the Commonwealth Government and administered by the Australian Tax Office (ATO) and will build on the Commonwealth’s existing National Register of Foreign Ownership of Agricultural Land. The ATO uses the data for information-matching and ensuring compliance with the taxation laws of the Commonwealth.

The Lands Titles Office and RevenueSA have developed a state owned online Commonwealth Reporting Portal to collect and report the necessary data.

Access the Portal here: www.revenuesaonline.sa.gov.au

What & Why?

Federal legislation requires all states and territories to report property sales information to the Australian Taxation Office (ATO) on a quarterly basis.

Conveyancers and practitioners are requested to provide to the State the following data for each transaction related to a property sale:

  • property details, including land title information, property address and other descriptors;
  • transactional information, including transfer price, contract date and settlement date; and
  • Identity data of the purchaser/transferee and vendor/transferor, including:
    • name, address and date of birth for individuals;
    • name, address and ABN for non-individuals; or
    • foreign identity details.

The collection of this information will provide increased transparency into foreign investment and will provide the Federal Government with improved monitoring of compliance with the administration of Capital Gains Tax and other taxable events.

The ATO has longer term plans to prefill data into tax returns, reducing the burden on taxpayers to determine amounts, where data can be sourced from State reported data.

Refer to the Frequently Asked Questions page for further information.

From 1 July 2019

From 1 July 2019 both vendor and purchaser data must be completed for all reportable transactions.

Vendor information

Vendor data is completed via a RevenueSA Online workspace. You can either create a new workspace or you may be invited through RevenueSA Online by the purchaser’s representative to enter details. The vendor’s representative can commence this process at any time in the process.

If you have already been entering data for vendors, please note there are some additional mandatory fields that will also be required from 1 July 2019, including date of birth, additional information for non-Australian citizens (passport number, visa number, visa subclass and visa expiry date) and additional information for overseas organisations (country of incorporation).

Non-compliance of the provision of vendor data will be reviewed and monitored and may result in compliance activity and could also lead to RevenueSA Online system restricted access, disrupting capability to conduct business electronically with RevenueSA.

Purchaser information

From 1 July 2019, additional mandatory fields will be required for purchasers, including date of birth, additional information for non-Australian citizens (passport number, visa number, visa subclass and visa expiry date) and additional information for overseas organisations (country of incorporation).

To streamline the process in RevenueSA Online, the reporting screen for purchaser data will be integrated with the stamp duty assessment screens. A separate Commonwealth Reporting Portal workspace is no longer required before you create a stamp duty document.

You will also be able to invite the vendor’s representatives to enter data for reporting requirements.

What happens if I don’t enter the data?

From 29 July 2019, before a reportable document conveying land can be:

  • confirmed in RevenueSA Online; or
  • assessed by RevenueSA if lodged for assessment.

If data has not been entered for both parties, you will not be able to obtain a Document ID. Without a Document ID you will not be able to lodge the document with the Lands Titles Office.

Where the purchaser commences their stamp duty document and invites the vendor’s representative prior to seven days of the expected settlement, then the purchaser will be able to proceed to generate the Document ID without the vendor requirement being satisfied. In these instances the vendor will have their RevenueSA Online system access restricted until the mandatory data has been provided.

Where the purchaser does not commence their stamp duty document and invite the vendor’s representative prior to seven days of the expected settlement and the vendor’s representative has not completed the mandatory data, then the Document ID will not be available in preparation for settlement. If this occurs you are required to contact RevenueSA who will assess the non-compliance circumstances on a case-by-case basis and may allow a Certificate of Stamp Duty to be issued.