Annual return
A registration lasts until it is suspended, cancelled or surrendered. A registration will cease if the person holding the registration dies or, in the case of a company holding the registration, is dissolved.
In order to maintain continuity of registration, you will receive an annual return to lodge the registration which will be posted to your Address for Service (ie, your postal address). The annual return is a document that lists certain information that you must provide to the Commissioner, along with your registration fee. It is the responsibility of the registrant to lodge this registration before the expiry date to avoid a penalty fee.
Your first annual return, will fall due for lodgement twelve (12) months after the registration is granted, and then yearly after that.
Click to view current fees.
Changes to details
You must notify the Commissioner in writing (within 14 days) of changes to your personal or business details (eg address, directorship, business name, partnership etc) and resignation or dismissal of your nominated manager.
Nominated Managers
The nominated manager for your company must be registered as a land agent. If they are not registered with our office they will need to apply to be registered before they can be nominated as the manager.
Trust accounts
As a registered land agent you are required to deposit monies from your clients into a trust account in accordance with the rules set down under the Land Agents Regulations 1995.
For instance, you must:
- maintain a Trust Account -
where you are accepting trust money, and depositing the money in an account approved by the Commissioner at a bank, building society or credit union. - keep detailed records of trust money -
by compiling detailed accounts of receipts and disbursements. - withdraw money from a Trust Account -
only under circumstances set out in the Act. - arrange for accounts and records to be audited -
on an annual basis; from the end of your last audit period (in the case of a new registration, from the date of registration) until two months before the date upon which your annual return is due or, a date nominated by you and approved by the Commissioner. - accept cooling-off notices from purchasers.
- verify vendor's statements containing particulars in relation to land.
- supply to vendors copies of all written offers for purchase, contracts, agreements or documents
- ensure that you do not have a beneficial interest in the purchase of land or a business you are commissioned to sell.
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