The amendments to the Act in June 2010 introduced the establishment of an optional STC Clearing House to facilitate the exchange of STCs between buyers and sellers at a fixed price of $40 (excl. GST). The STC Clearing House has been accessible via the REC Registry from early January 2011. LGCs are not included in the STC Clearing House.
In 2012, there was one significant purchase in the STC Clearing House valued at $213,004 (incl. GST), while another single purchase was processed that was a user instigated 'test transaction’ of only one STC ($44 incl. GST). The total value of transactions was $213,048 (incl. GST), for a total of 4,842 STCs.
A total of $2,260 was refunded to buyers for GST not required to be paid to seller.
There were a total of 16 sell orders matched to the buy orders via the STC Clearing House. In total $210,788 (excl. GST) of sell orders were transacted through the STC Clearing House, processing the 4,842 STCs that were traded. Of the STCs traded, 565 certificates were for sellers not registered for GST, mostly homeowners. The average transaction of non GST registered sales was 141 STCs at a value of $5,640. The largest transaction was 208 STCs at a value of $8,620 (excl. GST).
The STC Clearing House also processed 87 transactions for GST registered sellers. A total of 4,277 STCs totalling $188,188 (incl. GST) were bought from these sellers. The largest transaction in this category was for 2,081 STCs at a value of $91,564 (incl. GST) and the average transaction was 356 STCs at a value of $15,682 (incl. GST).
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