Relevant dates Windfall Gains Tax commences relates to contracts entered into after 15 May 2021 for land over 2 hectares that is rezoned from 1 July 2023. Who pays? The owner of the land at … [Read more...]
Do you have a pool or a spa? You may be required to register on a Pool and Spa Register
New Victorian legislation is expected to require all pool and spa owners in Victoria to register their pool or spa with council on a Pool and Spa Register. The legislation also states that there will … [Read more...]
Replacing combustible cladding – help from councils
Local councils can provide owners or owners corporation with a long term, low interest loan in order to replace combustible cladding. New legislation enables owners or owners … [Read more...]
Conveyancing update – GST withholding notifications
GST withholding provisions came into effect on 1 July 2018. The provisions are relevant to all purchasers and vendors of residential real estate. The legislation requires most vendors to supply a … [Read more...]
What to look for at a final inspection?
In most contracts the purchaser of property has the right to do a final inspection in the week before settlement. The purpose of the final inspection is to ensure that the property and goods sold … [Read more...]
Foreign purchaser stamp duty surcharge and discretionary trusts
Be warned that when purchasing property through a discretionary trust the foreign purchaser stamp duty surcharge may apply. It is common for discretionary trusts to have a wide definition of … [Read more...]