Monday, June 11, 2012

Transaction Levies and PCLaw

 

Pursuant to By-law 6, a lawyer or law firm that acts for one or more parties on a real estate transaction must pay the Law Society a real estate transaction levy surcharge of $65.00 per transaction inclusive of all taxes.

Some additional information on real estate transaction levies:

http://www.lsuc.on.ca/newsarchives.aspx?id=2147485737&cid=2147487113

Likewise, a lawyer or law firm that acts for one or more parties on a civil litigation matter must pay the Law Society a civil litigation transaction levy surcharge of $50.00 per transaction inclusive of all taxes.

Some additional information on civil litigation levies:

http://www.practicepro.ca/LAWPROMag/LawPROmagazine4.pdf

Enabling The Transaction Levy Feature In PCLaw

Before using the Transaction Levy feature in PCLaw, the feature must be enabled on the System Settings - Provincial Tab. Newer versions of PCLaw have noted the January 1, 2010 rate change for real estate transactions in Ontario.

Setting Up Transaction Levies

To charge a transaction levy, the lawyer must have a valid LSUC number. This number is entered in PCLaw on the Lawyer and Rates - Provincial tab.

Posting A Transaction Levy

Transaction levy charges are posted to matters via Data Entry – Transaction Levy. For real estate, you select who you are acting for and the documents filed. If acting for both sides in a real estate transaction, you can enter the levy for both matters with one entry. For civil litigation, you select the type of claim/defence filed with the court.

If you have a busy practice, you can add a Transaction Levy button to your Quickstep menu.

As always, I invite your comments and suggestions for future post topics. I missed publishing last week because I was helping a new client, who came to me after he failed to pass his LSUC audit. It has occurred to me that I should write something about the subject. Next Week – PCLaw and LSUC Audits – What to Expect.

Clyde