RevNet Frequently Asked Questions


Audit and Compliance

Who is liable for omissions, errors etc. when processing documents and what are the penalties?

If a document is incorrectly stamped, RevNet allows for deleting and voiding of the document. If the document has been submitted to RevenueSA and stamp duty consequently paid, the stamped documents must be forwarded to RevenueSA, GPO Box 1353, Adelaide SA 5001, together with a letter explaining the error.

Under the provisions of section 4 of the Stamp Duties Act 1923 , the parties who executed the instrument are jointly and severally liable to pay the duty charged in respect of an instrument. While it is true that RevenueSA will, in all probability, pursue details of the relevant events concerning the transaction and the instrument with the RevNet participant, the ultimate liability for duty will rest with the parties. Where the RevNet participant has acted in a bona-fide fashion in its dealings with the matter it has no reason for concern.

The application of penalties and interest will be looked at on a case-by-case basis.

This stance is consistent with that of RevenueSA in the former non-RevNet environment.

What sort of verification programs are undertaken by RevenueSA?

RevenueSA conducts active compliance programs to ensure the correct stamp duty is being paid. This includes data matching with the Lands Titles Office.

Officers of RevenueSA also visit agents/taxpayers to ensure they have an understanding of the system and the documents they are processing. This assists with the formulation of ongoing education strategies.

In addition, officers of RevenueSA also write to agents/taxpayers to conduct desk audits on documents that have been stamped via RevNet to ensure that documents are stamped correctly and sufficient evidence has been retained to demonstrate why a document was stamped under a particular RevNet document heading.

How do I know what evidence I need to retain for audit purposes?

The audit requirements for documents that have been approved for self-stamping via RevNet are described in the Stamp Duty Document Guide (Self-Determined) which is also available via the Online Help in RevNet.

When retaining copies of stamped documents we would prefer all pages of the document to be kept by you (especially if the document is not submitted at the Lands Titles Office).

The documentation required for audit purposes must be kept for a period of five (5) years from the date the document was stamped and must be made available to a RevenueSA officer upon request. This is consistent with refund and record keeping provisions of the Taxation Administration Act 1996.

You can store the evidentiary documentation either in hard copy or electronic format.

If you prefer to store your evidence offsite, you can. All we require is that the relevant evidence be produced when an audit is conducted. You will be given prior warning that an audit is being held; this will give you time to get the evidence out of storage and make it available to RevenueSA.

By using RevNet, are we personally liable for the stamp duty?

Under the provisions of section 4 of the Stamp Duties Act 1923, the parties who executed the instrument are jointly and severally liable to pay the duty charged in respect of an instrument. While it is true that RevenueSA will, in all probability, pursue details of the relevant events concerning the transaction and the instrument with the RevNet participant, the ultimate liability for duty will rest with the parties. Where the RevNet participant has acted in a bona-fide fashion in its dealings with the matter it has no reason for concern. This stance is consistent with that of RevenueSA in the former non-RevNet environment.

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