2.4 - Shire Rates and Extra Rates

Shire Rates

When the Rates Notice is received, “Untick” the “Money Held in Trust”.

The Enquiry Fee for each Shire/Council is brought through when you enter the local Authority in the Additional screen in Contract Details. After you have completed an Electronic Advice of Sale, always check the Enquiry Fee is correct. To update the Enquiry Fee, go to Home, Local Authority, search for the Shire/Council and update the Enquiry Fee.

Enter the total of the General Rates, any Arrears and the total Amount Due. Enter any Penalty Interest if applicable. If the Rates are Interim, enter the Date the Rates commenced.

For Rates where there are Interim rates for a portion of the year, but also Rates for the full year such as items like security charge, enter the Interim Rates in this screen and the whole of year rates in the Extra Rates Screen.

If there are Penalties due, enter in this box, the penalty must be the amount outstanding as at the date of settlement, please note, SettsPlus does not calculate this figure and any change in the adjustment date would not be brought through to the Penalty Interest amount. You must amend this yourself.

Sellers Agents can Credit the Buyer the Sellers share by ticking this box, this is usually during the first couple of weeks of the financial year.

Sellers Agents can also nominate the Buyers Agent to pay the outstanding Rates by ticking this box and then showing on the statement to the buyers Settlement Agent as a credit from the seller to the buyer.

Changing the “Adjustment Date” in the “Contract Details” screen will automatically adjust the client’s proportion of rates in all rates screens, except as mentioned previously for the Penalty Charges.

Extra Rates

This field is similar to the Shire Rates field and is used for any items that are to be adjusted to a date. Add additional rates in this field. Enter Payable to, i.e. City of Swan, Description, Security Charge. Then the start and finish dates. The Current Rates, Arrears and Total due. As with the other screen, as the Sellers Agent you can credit the Buyers Settlement Agent any outstanding amounts owed by the Sellers.

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