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...]
Update to the foreign purchaser stamp duty surcharge
In our blog published on 14 June 2015 we outlined the surcharge in stamp duty and land tax for foreign purchases of property in Victoria. From 1 July 2016 the stamp duty surcharge rate increased from … [Read more...]
Can a tenant list their home on Airbnb?
The Supreme Court has recently found that tenants who let out their St Kilda Apartment through the Airbnb website were in breach of their lease. This meant that the landlord was entitled to issue the … [Read more...]
Changes to conveyancing transactions from 1 July – foreign withholding tax
From 1 July 2016 a purchaser of real property that has a market value of $2million or more will need to withhold an amount of 10% from the payment made to the vendor if they purchase property from a … [Read more...]
Buyer beware
A recent NSW case has highlighted the need for buyers to do a building inspection report. The case concerned a newly renovated family home that was advertised for sale on the Domain website and on … [Read more...]
Foreign investors and property in Victoria – increase in stamp duty and land tax
From 1 July 2015 there will be a 3 % surcharge above standard stamp duty rates for foreign purchases of residential property. This will result in a stamp duty rate of 8.5%. A foreign purchaser … [Read more...]