Casey Challacombe (Customer) asked a question.
On NSW convenyancing purchase matters we have noticed that recent matters are showing Nil in the calculation of transfer duty where this should not be the case. This means a lot of our letters and budgets that draw from this field are incorrect.
The LEAP tech department have advised that if I put in a "dummy exchange date" the duty will calculate. This is true but has larger rammifications in our matters and simply is a dangerous practice as correspondence and calculators is adversely affected in different ways.
We have done hundreds of matters with no trouble so this is a recent change in the background programming. We need the calculation prior to exchange of contracts.
I am advised this is my only avenue for getting help.
LEAP - please fix this.
Hello Casey, thank you for raising this issue. We will consult with our Content team and determine why a 'dummy' date is necessary and if we can improve this aspect.
This issue has still not been resolved. Leap never used to require an exchange date to be put in leap to calculate the stamp duty. This function should revert back to how it was 12 months ago. As the other users on this thread have pointed out, we need to advise our clients of the stamp duty costs very early in the conveyancing process and certainly prior to exchange. This is a disappointing and useless change which has created more work for leap users. Please urgently attend to this and make the change to the old system.
Hi, You have still not fixed this problem. We always advise our clients of the stamp duty payable at our initial consultation however now we have to do a search in Revenue NSW to calculate the Stamp Duty payable. It used to calculate the stamp duty payable purely on entering the purchase price. Now when opening the file and printing our detailed file coversheet Transfer Duty says NIL. Not good enough. Why change something when it works.