We would like to make your contact with the State Revenue Office (SRO) of Victoria 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.
Part 1 – 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 a solicitor, conveyancer or agent is not involved, write N/A.Part 2 – 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 and their interest in the land are not equal, include the percentage of their interest against each owner.
For example, Brown 30 per cent, Smith 45 per cent, Nguyen 25 per cent.
Only one joint owner will receive the joint assessment on behalf of all joint owners. You may nominate the person to receive the joint assessment.
If you wish to do this, please attach a separate notification signed by all the joint owners. If you do not make a nomination the first party named as the transferee on this Notice of Acquisition of an Interest in Land will receive the joint 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 (www.sro.vic.gov.au) for further information about the principal place of residence exemption. Part 3 – 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, City of Hume 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
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, 100:800Part 4 – 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 N/A .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, write N/A.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.Number of bedrooms
This information is used by the Valuer General. If there are no bedrooms, write N/A.Description of property
Refer to the land use codes under the ‘Description of Property’ on page 2 of this notice. This information is used by the Valuer-General.Construction of main structure
This information is used by the Valuer-General.Part 5 – Certification
Representative’s name and contact details
Supply the name(s), contact number and email address of your solicitor, conveyancer or agent. If a solicitor, conveyancer or agent is not involved, write N/A.Certification
You (or your solicitor/conveyancer/agent on your behalf), are required to confirm the accuracy of the information provided.Further information
If you have any questions on how to complete the Notice of Acquisition, contact the State Revenue Office on 13 2161 and you will be guided to a customer service officer.