News

Notice to Property Practitioners – GST Settlement Measure Affecting Certain Settlements 1 July 2018 onwards | Opportunity to Test Drive Online Forms (register interest before 1 June at info@lst.org.au).

The Society has recently issued newsletter communications to its members regarding new tax legislation that applies to how the ATO will collect GST on certain property transactions starting from 1 July 2018.

As a result of this new measure, there are two new online notification forms the purchaser or their representative are required to submit:

  • Form 1: GST property settlement withholding notification online form
  • Form 2: GST property settlement date confirmation online form.

As part of these changes, ATO Beta will be running a short test on their website exploring the experience of these forms.

Test participants will be presented with the opportunity to:

  • test drive an upcoming digital service by completing a few short tasks
  • provide anonymous feedback and suggestions for improvements
  • have a say in shaping the future experience.

The short test will run for 10 minutes and will be open to test participants for a week to complete in mid to late June.

ATO Beta will send a one-off email out to those who nominated to participate in mid-June with further details.

If your firm would like to participate please nominate your volunteer participant/s on or before Friday 1 June 2018 by emailing to the Society (info@lst.org.au) your practice’s name and the name and email address of your nominated participant/s.

The Society will then at COB 1 June 2018 submit a registration form to the ATO listing all interested LST member participants.

If you’re interested in finding out more about ATO Beta and what they do you can visit their website here.