July 2017
All settlement agents (agents) who have held or received monies in trust during the past financial year are required to submit an annual audit report.
Agents who have not held or received monies in trust during the audit period should submit a Statutory Declaration (Declaration of no receipt of trust funds) in lieu of an audit report.
July 2017
A real estate agent has had his licence and triennial certificate cancelled by the State Administrative Tribunal after failing to complete compulsory training requirements.
Anthony Palermo of Dalkeith was subject to disciplinary action by Consumer Protection when he failed to complete the necessary Compulsory Professional Development (CPD) obligations for three consecutive years 2013-2015, in breach of the Real Estate and Business Agents Act.
Incorporated associations who fall into tier 2 and 3 for financial reporting purposes have specific responsibilities under the Associations Incorporation Act 2015 (the Act) with respect to appointing, removing and providing information to their reviewer or auditor.
NOTE
The Associations Incorporation Act 2015 (the Act) includes specific responsibilities for auditors and reviewers appointed by an incorporated association. These requirements have been listed below for your information.
NOTE
30 June 2017
Following recent media reporting on the Auditor General’s Government Information Systems Audit Report issued 29 June 2017, the Bond Administration team has been contacted by some agents seeking clarification on the security levels around the Bonds Online eTransactions system and whether any threat against agency and clients’ personal data from cyber-attacks was possible.
30 June 2017
Changes which affect settlement agents
The Licensing Provisions Amendment Act 2016 will take effect on 1 July 2017. It amends a number of industry Acts in Western Australia, including the Settlement Agents Act 1981 (Act).
The amendments to the Act will:
30 June 2017
The Licensing Provisions Amendment Act 2016 will take effect on 1 July 2017. It amends a number of industry Acts in Western Australia, including the Real Estate and Business Agents Act 1978 and the Auction Sales Act 1973.
Amendments to the Residential Tenancies Act 1987 will take effect on 3 July 2017.
The amended Acts will be available from the State Law Publisher’s website after the amendments come into force.
28 June 2017
Be aware - changes to the law
On 3 July 2017, changes to the Residential Tenancies Act 1987 and the Residential Tenancies Regulations 1989 will come into effect. Acquaint yourself with these changes as summarised below; the information will assist you in managing your rental property efficiently.
The amended tenancy agreements and forms will be available online and must be used from 3 July 2017 onwards.
28 June 2017
The Licensing Provisions Bill 2015 will take effect on 1 July 2017. It amends a number of industry Acts in Western Australia including the Land Valuers Licensing Act 1978 (the Act).
The amendments to the Act will:
This step-by-step guide shows real estate agents and landlords how to use the BondsOnline eTransactions system and includes:
