Are you aware of the new identification requirements that took
effect back in May 2016? Here's a quick guide to what you need
As your Solicitor/Conveyancer we are required to verify the
identity of our clients and to make sure that you have the
authority to deal with the property. This being the case, you will
be required to produce at least 100 points of identification from
Current Australian Passport
Expired Australian Passport which has not been cancelled and
was current within the preceding two years
Current Passport from another country
Current Australian Driver's Licence
Current Photo/ID card
Current credit card from a bank or building society or credit
Current telephone, gas, electricity bill
Foreign Driver's Licence
Not only are there new identification requirements, it is also
now a legal requirement that all purchasers of a property sign a
purchaser declaration. The purpose of this declaration is:
to determine whether a transaction is a transfer of residential
land to a foreign person;
to identify foreign persons for surcharge land tax
to collect and report to the ATO, information on transfers of
land in NSW.
Please note that if you are identified as a foreign person, you
could incur surcharges in relation to stamp duty as well as land
tax. The Office of State Revenue can provide you with more
information in regards to his matter.
Do you need assistance with meeting the new identification
requirements or completing a purchaser declaration? The team at
Coutts Solicitors & Conveyancers can help.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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