Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Conveyancing changes impact SMSF clients’ admin

Accountants should take note of new electronic conveyancing rules which apply to standalone transfers, as they are expected to also affect the administration of SMSFs.

SMSF Miranda Brownlee 11 July 2018
— 1 minute read

In a statement, Townsends Business and Corporate Lawyers said the national conveyancing rules have been in effect from 1 July 2018 for NSW and require all standalone transfers, standalone mortgages, standalone discharge of mortgages and all refinances to be lodged electronically via an online platform called Property Exchange Australia (PEXA).


While professionals and their clients might think the new conveyancing rules only relate to conventional conveyancing transactions, Townsends said most SMSFs matters will also be impacted by the new rules.

Some of the SMSF matters that will be impacted by the new rules include a change of trustee where the SMSF owns a property, the rollover of benefits between superannuation funds where a transfer of property is involved and buying a property with a limited recourse borrowing arrangement.

The new rules will also impact the unwinding of a limited recourse borrowing arrangement after full repayment of the mortgage and secured loans to an unrelated third party.

Other than NSW, Townsends said most state and territory governments have announced the transition to electronic conveyancing.

“Although their timelines may differ, each jurisdiction’s conveyancing system is undergoing changes in light of the ultimate goal of achieving a nationally consistent electronic conveyancing system,” the law firm said.

This email address is being protected from spambots. You need JavaScript enabled to view it.


Conveyancing changes impact SMSF clients’ admin
image intro
accountantsdaily logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting.

Limited tickets left. To secure your place today, visit accountantsdailystrategyday.com.au/.