How to process a foreign transfer duty transaction in Revenue Online


Hi, I am from the Office of State Revenue
in Western Australia. I am going to explain how to process a foreign
transfer duty transaction in Online Duties. To understand the theory behind foreign transfer
duty, see our ‘foreign transfer duty in WA’ video on our YouTube channel. The Western Australian State Government introduced
an additional seven percent duty on certain transactions on or after 1 January 2019 when
foreign persons acquire residential property. For all transactions that are executed on
or after 1 January 2019 it is now mandatory for each buyer or transferee to complete a
Foreign Transfer Duty Declaration form. You will need this completed form from each
buyer in order to self-assess a transaction in Online Duties. If you are not registered for Revenue Online,
you will need to apply to the Office of State Revenue to be registered. If you are a registered user, log in with
your username and password. We have updated the Special Tax Return Arrangement
(Online Duties) Terms and Conditions. Please read and accept these before you proceed. Only the Authorised Person will be able to
accept the Terms & Conditions. Select Online Duties
Click on New Transaction. This takes you to the ‘transaction type
selection’ page. Enter your information in to the required
fields. Click Next. This is the ‘transaction details’ page. If there is a conditional agreement, select
Yes and choose the type from the drop down menu. Complete the land details. You need to enter the seller’s or transferor’s
details. Under the seller’s details, click Add and
enter the ‘party details’. Click Save. Now, enter the buyer’s or transferee’s
details. Click Add and enter the ‘party details’. If the buyer has declared on their Foreign
Transfer Duty declaration form that they are a foreign person, make sure you select Yes. Click Save. Answer the following questions:
Are the buyer and seller related? and Is the property being transferred residential
property within the meaning of section 205E? This question will only appear if you select
yes for foreign person for any buyer or transferee. Enter the dutiable value of the property. Click on Calculate. This gives you a breakdown of transfer duty
and foreign transfer duty with the total duty payable. Click Next. The last part is the ‘confirmation page’. Once you have checked everything is correct,
click Confirm. You will get a bundle receipt summary. You can save this or print for record keeping. Certain transactions will no longer be eligible
for self–assessment. They must be transferred to us through the
OSR Duties Lodgment Portal. – spousal exemptions where Foreign Transfer
Duty is applicable – transactions involving substituted transferees
where either the original purchaser or substituted transferee are foreign persons
– vesting of a discretionary trust where Foreign Transfer Duty is applicable You will be required to upload a copy of the
Foreign Transfer Duty declaration form when you lodge these transactions. If you need more information:
– visit our webpage – Foreign Buyers Duty –
lodge a web enquiry – phone us on 9262 1100

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