DUTY PAYMENTS CHANGES

If you and your home are eligible, you can choose to defer payment of conveyance duty on your purchase of the home under the new ACT Government introduced Barrier Free model for duty as part of its tax reform on 18 September 2017.

Currently, property buyers have to lodge documents  and pay duty within 90 days of entering into a property transaction i.e. signing a contract. Once the duty is paid, the transfer of title can be registered with Access Canberra after settlement.

The Barrier Free model moves the point of payment so that buyers pay duty after they register their title. A Notice of Assessment for duty will be issued once the title is registered and payment is due within 14 days with deferring options up to 10 years.

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