Timeframes for lodging and paying

Payment

We prefer electronic payments. However, cheque payments are also accepted. Payment must be made by cleared funds (bank cheque or solicitor’s trust account cheque). Private cheques will only be accepted for amounts less than $100.00.

When paying by cheque, you only need to send us the lodgement confirmation page and cheque. You do not need to send us any paperwork (e.g. copy of contract, concession form, instruction letter, etc).

Note: Personal cheques over $100.00 and unsigned cheques will be returned and unpaid tax interest (UTI) will accrue until full payment by cleared funds has been received. 

We will apply your payments in the following order: fees and charges, UTI, penalty tax and duty, as set out in the Taxation Administration Act 2001 (TAA).

Electronic payment

To make an electronic payment, you need the unique payment reference code for each separate transaction lodged through OSRconnect. The reference number is on the confirmation page that displays after you submit the transaction in OSRconnect. This page also has details on how and when to pay.

You can pay electronically by:

• BPay
• direct debit
• electronic funds transfer (EFT).

If you pay electronically, you do not need to send us any paperwork (e.g. confirmation page, instruction letter, Form 12.6, etc).

OSRconnect provides the option for your client to pay direct to us. If you decide to use this option, print or email the confirmation page to your client.

Your client can pay by:

• BPay
• EFT.

Note: If your client makes direct electronic payment to us, you must check your payment history and view that particular payment before endorsing the document. The length of time that your client’s payment will take to appear in your payment history screen will depend on the time of day that your client pays and how long their financial institution takes to process the payment.

Unpaid tax interest (UTI)

Normal UTI rules will apply for late lodgement of transaction statements and late payments. See Public Ruling DA000.2—Self assessors, the Duties Act 2001 and the Taxation Administration Act 2001 or section 54 of the TAA for more information.

Penalties

We may apply a penalty if you:

• do not lodge a transaction statement as required under your notice of registration
• lodge illegible or incomplete transaction statements
• do not pay the duty, UTI or penalty tax (where imposed) received from the client to the Commissioner
• incorrectly or illegibly endorse documents
• provide false or misleading information.

Penalty amounts imposed are the greater of not more than 75% of the amount of duty payable for the transaction or $100.00.

You are entitled to apply for a review of any decision to impose a penalty. See Chapter 13, Parts 1 and 2 of the Duties Act 2001 for more information on the reviews and appeals process.