Important Memo to TRO Users from the Law Society
8 November 2017
The State Revenue Office is developing a series of TRO ‘how to’ Fact Sheets. The idea is to release these over a number of months, concentrating at first on matters which are of (possible) greater importance (see initial list further below).
Invitation to members
The purpose of my memo is twofold:
Firstly: to advise members about the Law Society’s support for this proposal.
Secondly: to invite you to consider and nominate any other topics for the fact sheet series. These will be issues of appreciable importance or relative complexity that require specific, step-by-step guidance. If you are submitting a topic, please include several dot points to provide context about the issue.
We are not asking for a critique of the TRO portal. Our aim here is to support the development of practical, clear-cut information to assist TRO users where it’s shown, through your submissions, that it’s most needed.
Once your submissions are in and collated, priority will be given to developing fact sheets for topics that are issues in common for TRO users across the board. It is important to note that resources aren’t available to provide fact sheets for general processing tasks or similar functionality; guidance for these is available from the TRO help files.
Topics currently under consideration by the SRO
The SRO has already begun preparatory work on the fact sheet series. Below is the draft list of topics they have identified:
Communicating with the SRO using the TRO portal – explaining the differences between communicating about Transaction-specific and general Account issues.
- Deceased estates
How to enter deceased estates (transferor is deceased estate, not executor in their own right).
How to enter Trusts over property (fixed beneficiary – limited recourse borrowing arrangements).
How to enter Aggregated transactions.
- Farming property sales
How to enter Sales of farming property (including section 225 – intergenerational rural transfers – whether as a transfer of property or sale of business).
How to pay invoices and assessment notices.
- Life Interest
How to submit life interest.
Submissions close on Wednesday 22 November 2017
Could you please send your submissions to Francesca Saturno at Francesca.Saturno@lst.org.au or, in the alternative, please contact me directly to discuss.
Law Society President and member of the Property & Commercial Law Committee
Wallace, Wilkinson & Webster
Tel: (03) 6234 8022