For every purchase of land in New South Wales, the Office of State Revenue (‘OSR’) requires that a Purchaser Declaration Form be completed by the purchaser. Information collected through this form is used to report on taxation matters and in particular to foreigners purchasers of land who have to pay surcharge duty and land tax.
If there is more than one purchaser buying the property then each purchaser needs to complete a separate Purchaser Declaration Form. There is no ‘joint’ form.
The law is changing. Is your lawyer?
Like every other industry, the legal services market is changing, evolving and improving to better meet the needs of consumers in a digital age. Gone are the days of crusty lawyers on mahogany desks pretending a contract for the sale of land is the magna carta. Contracts are standardised, transactions happen at light speed and settlements are electronic. If you want a law firm to represent you who embraces this reality then Dott & Crossitt Solicitors Richmond, Sydney CBD & Mudgee are for you!