Red tape issue
Each year, approximately 200 000 property transactions are completed in Victoria. For each of these transactions, at least two forms are required to be lodged – a Notice of Acquisition with the Land Registry and a Duties Purchaser Statement with the State Revenue Office.
The information collected in these forms is largely identical, which places an unnecessary burden on people and businesses when they acquire property in Victoria.
The State Revenue Office is working towards introducing a digital Notice of Acquisition. It is expected that the pre-population of data from other sources, including the Duties Purchaser Statement, will mean that only minimal additional information will be required to be entered by the customer in the digital Notice of Acquisition.
This project is part of the State Revenue Office’s broader strategy to reduce red tape by investigating opportunities to consolidate its forms and replace paper forms with online forms.