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LTX-Form-01

Document last modified: 26 Jul 2017

Used to notify the State Revenue Office of a change in land ownership.

Important change

This form has been replaced with an online SmartForm. Please use the new SmartForm rather than the PDF form.

 

Explanatory notes

We would like to make your contact with the State Revenue Office (SRO) more effective by helping you to understand and comply with the requirements to lodge a Notice of Acquisition of an Interest in Land. This form is used by the SRO and municipal councils.

The majority of land in Victoria does not attract Land Tax, however, every person who acquires land in Victoria must give notice to the Victorian Registrar of Titles. This must be done within one month of acquiring the land. Failing to lodge the acquisition notice within one month may result in penalties.

Ensure that all details are accurately recorded. The SRO can then process your notice immediately.

Transferor (Seller)

Names

Include all parties that were registered on title. State surname, first name and other given names in full.

If a trust is involved, state the full name(s) of the trustee and the trust. For example, John Smith as trustee for the Smith Family Trust.

If a company is involved, state the full name of the company and its Australian Company Number (ACN) or Australian Business Number (ABN).

Transferor’s contact details

Supply the transferor’s email address, address at the time of transfer and the future address for correspondence. If there is insufficient space for the names and addresses, please attach a list.

Contact details of Transferor’s representative

Supply the name(s), contact number and email address of the transferor’s solicitor, conveyancer or agent. If there is no solicitor, conveyancer or agent involved, write N/A in the name field.

Transferee (Buyer)

Names

Include all parties to be registered on title. State surname, first name and other given names in full. Provide date of birth for each buyer who is an individual person.

If a trust is involved, state the full name(s) of the trustee and the trust. For example, John Smith as trustee for the Smith Family Trust. In addition, the trustee must lodge a Notice of trust acquisition of an interest in land (LTX Trust 8).

If a company is involved, state the full name of the company and its Australian Company Number (ACN) or Australian Business Number (ABN).

If more than one transferee is involved, only one joint owner will receive the joint land tax assessment on behalf of all joint owners. The first party named as the transferee on this Notice of Acquisition of an Interest in Land will be nominated to receive the joint land tax assessment.

Transferee’s contact details

Supply the transferee’s address at the time of transfer, the future address for correspondence, a contact number and email address. If there is insufficient space for the names and addresses, please attach a list. Note: Address at the time of transfer is required to ensure correct matching of data.

Principal place of residence

If the property will be the transferee’s principal place of residence, indicate ‘Yes’. If not, indicate ‘No’ and provide the address of the transferee’s principal place of residence.

Refer to the SRO website for further information about the principal place of residence exemption.

Details of title

To complete Part 3, you should refer to the following documents:

  • certificate of title;
  • plan of the property;
  • transfer of land documentation; and
  • municipal rates notice.

Address of property being transferred

Include all property location details, for example, unit, office, suite or factory number if applicable.

Lot and Plan number, Volume, Folio, Crown allotment, Section or portion, Parish name

Refer to the plan and transfer of land documentation.

Municipality name and property number

This is the local government municipality in which the land is located, for example, City of Banyule or Shire of Southern Grampians, and the number by which your municipality identifies the land. This number can be found on the rates notice or by inquiry to your municipality.

Area of land or unit of entitlement

Supply the total area of the land being transferred and the unit of measure used, where relevant. For example, 5000 sq metres or 200 hectares.

Unit of entitlement

Supply the unit of entitlement of the land of floor space being transferred. This refers to your share of ownership of the common property. For example, 100:800

Details of transaction

Total sale price (including GST)

This is the total amount paid or payable for the property. If no sale is involved, for example a transfer under a will, write 0.

Deposit

This is the amount paid as a deposit to secure the property.

GST amount

This is the amount of GST included in the sale price for the property.

Date of contract

This is the date the contract was signed. If no contract, leave blank.

Date of possession/transfer

State the date legal possession of the property was transferred. In most cases this will be the date of settlement.

Terms sales

This information will determine when the transferee becomes liable (if at all) for land tax under a vendor terms sale contract.

A terms sale contract, is a method of buying and selling real property where the purchaser pays the purchase price to the vendor in instalments, rather than paying the full amount of the purchase price by way of a home loan secured by a mortgage over the property.

Number of bedrooms

This information is used by the Valuer General. If there are no bedrooms, leave blank.

Description of property

Refer to the land use codes listed on the SmartForm. This information is used by the Valuer-General. Construction of main structure

This information is used by the Valuer-General.

Where do you send the Notice of Acquisition of an Interest in Land?

Mail or deliver with the Transfer of Land document to the relevant municipal council and

Land Victoria
2 Lonsdale Street
Melbourne, Vic 3000