3 ways to complete your NSW Electronic Duties Return (EDR) or eDuties services
3 ways to complete your NSW Electronic Duties Return (EDR) or eDuties services Recently, Revenue NSW announced an update that commencing May 4, 2020, “all complex assessing and refund applications must be lodged digitally through our eDuties service.” This is a result of the unprecedented COVID-19 environment and the challenges lawyers, conveyancers and the financial industry now face since in person meetings have been put on hold and social distancing has come into play. So how does an electronic duty return work? Solicitors and conveyancers can self-assess transfer duty online and integrate with an Electronic Lodgement Network Operator (ELNO) for electronic settlements. Accountants and financial advisors can self-assess discretionary trust deeds, family trust deeds, unit trust deeds and security trusts. A list of transactions that must be processed on EDR can be found in the Duties document matrix. eDuties, on the other hand, is a portal that enables solicitors, conveyancers, accountants and financial advisors to lodge online, complex duties assessments or refunds that must be processed by Revenue NSW. Please note that eDuties does not replace self-assessment of EDR transactions. Since COVID-19, the legal profession has been under pressure to complete various elements of their matters electronically and ERD is another step in that shift towards