Core (licensees must complete all core activities)

The Supervising Agent: a discussion of the key factors in running a successful, compliant settlement business – 2 hours

• Responsibilities of the agent/BFC
• Staff management; including remote working
• Workplace safety and health
• Financial management; including trust accounts

Compliance fundamentals: conducting your own proactive audit – 2 hours

• Business records
• Disclosures and Authorities
• Systems security
• Verifying trust account transactions

Prescribed Electives (licensees may choose 2 points from the topics below)

• Commercial Settlements – 2 hours
  • Key points of commercial settlements
• Reconciliation of Trust Accounts – 2 hours
  • updated in 2019 to account for e-conveyancing.
• Various CPD sessions to be delivered by the RevenueWA – 2 hours each
  • Deceased Estates Transactions and Transfer Duty
  • Transfer Duty Overview
  • The First Home Owners Grant for Professionals
  • Overview of Land Tax

Core (licensees must complete all core activities)

• Managing Agency Risk for Licensed Settlement Agents – 2 hours
  • Retention and security of documentation virtually e.g. Cloud based systems – how to ensure necessary records are retained in terms of statutory requirements
  • Contract for Sale of Land or Strata Title by Offer and Acceptance
  • Costs Disclosure
  • Preparation and Lodgement of caveats
• Amendments to Strata Titles Legislation – 2 hours
  • Strata Title Changes (inc Community Titles)

Prescribed Electives (licensees may choose 2 points from the topics below)

• Reconciliation of Trust Accounts – 2 hours
  • updated in 2019 to account for e-conveyancing. 
• Various CPD sessions to be delivered by RevenueWA – 2 hours each
  • Deceased Estates Transactions and Transfer Duty
  • Transfer Duty Overview
  • The First Home Owners Grant for Professionals
  • Overview of Land Tax
• Changes to the Model Participation rules and Preparing Notices – 2 hours face to face

Core (licensees must complete all core activities)

• Duties and Obligations – 2 hours
  • Appointment to Act
  • Duty of Disclosure
  • Privacy: Collection, Retention and Sharing of Data
  • Trust Accounts Requirements
  • Identification Requirements
  • Anti-Money Laundering Basics
  • Understanding the Contract of Sale
• Buyer Education and Advocacy – 1 hour
  • Sellers Disclosure Requirements
  • Inspection Entitlements
  • Inspection Reports
  • Title Insurance
• Strata Reform: Amendments to the Strata Titles Act 1985 – 1 hour
  • Strata Title Basics
  • What’s Different?
  • What’s New?

Prescribed Electives (licensees may choose 2 points from the topics below)

• Reconciliation of Trust Accounts – 2 hours
  • updated in 2019 to account for e-conveyancing
• Various CPD sessions to be delivered by RevenueWA – 2 hours each
  • Deceased Estates Transactions and Transfer Duty
  • Transfer Duty Overview
  • The First Home Owners Grant for Professionals
  • Overview of Land Tax

Core

• Business Management Practices for licensed settlement agents – 2 hours
• Managing Agency Risk for licensed settlement agents – 2 hours
  • Key changes to the Joint Form of General Conditions
  • Undertaking settlements involving subdivisions

Prescribed Electives 

• Understanding Structural and Building Reports as they apply to settlements – 2 hours
• Reconciliation of Trust Accounts – 2 hours
  • updated for the 2019 CPD program to account for e-conveyancing.
• Various CPD sessions to be delivered by RevenueWA – 2 hours each
  • Deceased Estates Transactions and Transfer Duty
  • Transfer Duty Overview
  • Revenue Online – Duties
  • The First Home Owners Grant for Professionals
  • Overview of Land Tax

Core

• Review of Australian Consumer Law provisions for licensed settlement agents
• Managing agency risk in electronic settlement transactions
  • Preventing cybercrime and identity fraud in settlements 
  • Overview of changes to the Joint Form of General Conditions

Electives

• Online Document Lodgement with Landgate
• Risk Management: Professional Indemnity and Fidelity Insurance Claims  - to be delivered by JLT, Vero Insurance and DLA Piper
• Sessions to be offered by RevenueWA: 
  • Deceased Estate Transactions and Transfer Duty
  • Transfer Duty Overview
  • Revenue Online -Duties
  • The First Home Owners Grant for Professionals and Land Tax Overview
• Reconciliation of trust accounts* 
• AICWA 2018 State Conference - attendance will attract 2 CPD points

Core

• Proposed amendments to the Strata Titles Act 1985 for licensed settlement agents. 
• Managing risk in relation to legislative changes
  • Foreign resident capital gains tax withholding regime.  
  • Amendments to the Sale of Land Act 1970 in relation to off-the-plans sales

Electives

• Overview of Landgate documentation preparation
• Sessions to be offered by RevenueWA: 
  • Deceased Estate Transactions and Transfer Duty
  • Transfer Duty Overview
  • Using Revenue Online (Online Duties)
  • The First Home Owners Grant for Professionals and Land Tax Overview
• Reconciliation of trust accounts* 

Core

• Amendments to the Settlement Agents Code of Conduct 1982  
• E-Conveyancing – Participation Framework and Rules    

Electives

• Encumbrances and disclosures  
• Sessions to be offered by RevenueWA: 
  • Transfer Duty Overview
  • Revenue Online (Duties)
  • The First Home Owners Grant for Professionals and Land Tax Overview
• Reconciliation of trust accounts* 
• AICWA 2016 State Conference - attendance will attract 2 elective points

Core

• Duties of a settlement agent
• Case studies and compliance exercises:
  • Performance and staff management within your agency – legislative requirements
  • E-conveyancing – “preparing for the roll-out”
  • Off-the-plan sales

Participants are required to attend two core activities per year, giving them four points. The remaining two points may be obtained by attending another core activity or elective activities. Each core activity will be delivered as a two hour seminar which gives participants two CPD points for each seminar attended.

Elective

• Trust account reconciliation (required by all new settlement agent licensees within the first six months of operation).
• Professional indemnity insurance claims – to be delivered by JLT in conjunction with Vero Insurance.
• CPD sessions to be run by RevenueWA:
  • Transfer duty overview.
  • Revenue online (duties)
  • The first home owners grant for professionals and land tax overview.
• AICWA National Conference on 8 March:
  Relevant sessions for two (2) CPD points are:    
  • ‘How the Conveyancing Profession looks today’
  • ‘How eConveyancing will change my business processes’
  • ‘How to ensure compliance with Verification of Identity (VOI) and the Model Participation Rules’
  • ‘How Commonwealth Government reforms will impact the property industry’
• Settlement of commercial properties – (distance learning topic only)
• Compliance with settlement legislation – (distance learning topic only)

Participants can acquire the remaining two CPD points by attending prescribed elective activities. Each prescribed elective activity will give the attendee two elective CPD points.

Core

• Managing Agency Risk
• The Electronic Conveyancing Platform: Principles, Procedures and Processes

Elective

• Trust account reconciliation (required by all new settlement agent licensees within the first six months of operation).
• Understanding self-managed superannuation funds for real estate purchases.
• Settlement of Commercial Properties
• Settlement Agents Compliance with Settlement Legislation

Core

• Australian Consumer Law
• Landgate Practices and Procedures 

Elective

• Trust account reconciliation (required by all settlement agent licensees within the first six months operation).
• Understanding self-managed superannuation funds for real estate purchases.
• Dealing with disposition statements
• Interpreting contracts
• Professional Indemnity Insurance Claims
• Transfer Duty: Payment and Lodgement – free session to be provided by RevenueWA
• Electronic conveyancing sessions conducted at the 2013 AIC Conference in Hobart. The sessions which have been awarded one elective CPD point each are:
  • “NECDL presents: The journey so far and a view of the system features”; and
  • “Facilitated panel session: NECDL, ARNECC, ABA and representatives of the finance industry".
• AIC Conveyancers Forum 2013 - (2 elective CPD points)

Core

• Risk management
• Ethics: disclosure and conflict of interests; agent/principal relationship; valid appointment to act. 

Elective

• Trust account reconciliation (required by all settlement agent licensees within the first six months operation). 
• Understanding self-managed superannuation funds for real estate purchases.
• Dealing with disposition statements
• Interpreting contracts

Core

• Business Management Practices
• Risk Management - Professional Indemnity Insurance Claims 
• Legislation Regulating the Carrying on of Business as a Settlement Agent in Western Australia  
• Understanding Real Estate and Settlement Documents

Elective

• Customer Service Skills  
• Legislative Changes Affecting the Conveyancing Profession  
• Reconciliation of Trust Accounts