Settlement Adjustment Calculator Victoria
Calculate how selected property outgoings may be apportioned between buyer and seller around the scheduled settlement date.
How Property Outgoings Are Shared at Settlement
Settlement calculations apportion eligible property costs between buyer and seller according to timing and contractual responsibility.
- Calculate each party's share of relevant council rates.
- Account for eligible water and other property outgoings.
- See how adjustments may change the final settlement balance.
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Property Settlement Adjustment FAQs
Council rates, water charges and other outgoings do not always align neatly with settlement day. Here is how adjustments work.
What is a settlement adjustment?
A settlement adjustment is a calculation used to allocate certain property expenses or income between the buyer and seller so each party bears the appropriate amount under the contract.
What expenses are commonly adjusted?
Depending on the transaction, adjustments may involve council rates, water charges, owners corporation fees, rent and other applicable outgoings or income associated with the property.
Why are rates adjusted if the seller has already paid them?
If the seller has paid an eligible outgoing covering a period extending beyond settlement, the purchaser may reimburse the seller for the purchaser’s relevant portion from settlement onwards.
What happens if an outgoing person has not yet been paid?
The settlement calculation may account for the outstanding amount in accordance with the contract and applicable settlement arrangements, so the correct responsibility is reflected between the parties.
Is Victorian land tax always adjusted between buyer and seller?
No. Victorian law restricts vendors from passing land tax to purchasers under many residential and commercial land sale contracts entered into on or after 1 January 2024, subject to the statutory rules and applicable thresholds. Your contract should be reviewed rather than assuming land tax is adjustable.
Will the calculator exactly match my final statement?
Not always. Final settlement adjustments depend on current certificates, actual settlement timing, contractual provisions and updated figures obtained when the settlement statement is prepared.
Want Your Settlement Figures Explained Clearly?
Master Key Conveyancing can guide you through adjustments, settlement calculations and the financial details affecting your property transaction.