Settlement Statement Test

  • Bytherules Conveyancing

    Settlement Statement Test

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  • Please prepare Settlement Statements from the following information:

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    Statement 1 – Residential (House) 

     

    Contract Price:

    $550,000.00

    Deposit:

    $55,000.00

    Settlement Date:

    2 March 2020 (leap year)

    Rates:

    $1,200.00 paid for quarter ending 31 March 2020

    Water & sewerage access charges:

    $160.00 paid for quarter ending 31 March 2020

    Water usage billed & paid to:

    25 February 2020

    Average Daily Water usage:

    370 litres

    Cost of Water:

    State Govt Bulk Water Charge $2.00 / kl

     

    Tier 1 Usage $0.50 / kl

     

    Statement 2 – Unit CTS

     

    Date calculation references:

    Period: 1 July 2020 to 18 August 2020

    49 days

    Period: 1 July 2020 to 30 September 2020

    92 days

    Period: 1 July 2020 to 31 December 2020

    184 days

    Period: 19 August 2020 to 30 September 2020

    43 days

    Period: 19 August 2020 to 31 December 2020

    135 days

     

    Contract Price:

    $960,000.00

    Deposit:

    $96,000.00

    Settlement Date:

    18 August 2020

    Rates:

    $1,200.00 unpaid for quarter ending 30 September 2020

    Water & sewerage access charges:

    $250.00 paid for quarter ending 30 September 2020

    Water usage billed & paid to:

    15 August 2020

    Community Title Total  

    Average Daily Water usage:

    1.2 kl 

    Scheduled Lot Entitlement: 

    50/160

    Cost of Water:

    $2.50 / kl

    Administrative Fund –

     

    Total Annual Contributions:

    $2,000.00 

     

    01/01/20-30/06/20 due 01/01/20 $1,000.00 PAID

     

    01/07/20-31/12/20 due 01/07/20 $1,000.00 UNPAID

    Sinking Fund – 

     

    Total Annual Contributions:

    $500.00

     

    01/01/20-30/06/20 due 01/01/20 $250.00 PAID

     

    01/07/20-31/12/20 due 01/07/20 $250.00 UNPAID

    Insurance Levy – 

     

    Total Annual Contributions:

    $200.00

     

    01/01/20-30/06/20 due 01/01/20 $100.00 PAID

     

    01/07/20-31/12/20 due 01/07/20 $100.00 UNPAID

    Tenancy Details: Term

    13 May 2020 to 11 November 2020                                                                  

     

    $600 per week

     

    Tenant paid to & including 23 August 2020 

     

    Property Manager disbursed rent to Vendor on 15 August 2020

    Foreign resident capital gains withholding (FRCGW)

    1 vendor – No Clearance Certificate yet received

    Land Tax:

    Unimproved Value $750,000.00                                                                      

     

    Land tax liability up to and including 30 June 2020

     

    Individual Land Tax payable: $2,000.00

     

    No contract special condition providing for apportionment

     

                   

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