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Posted on 7 Jul 2017Capital Gains Withholding Tax
In an effort to combat tax avoidance by foreign residents in 2016 the Federal Government introduced new laws requiring the purchasers of real estate worth $2 million or more to withhold 10% of the…
Posted on 26 Jul 2016Double Duty and Land Development
The Victorian Government can assess double duty on a transaction where the purchaser named in the contract of sale is different to the person to whom the property is ultimately transferred, unless an exemption…
Posted on 31 May 2016Withholding Tax on Real Estate
The Federal Government has introduced legislation that will significantly affect vendors of property valued at $750,000 or more. The aim of the legislation is to prevent foreign residents from avoiding Australian capital gains tax….
Posted on 18 May 2016Cooling Off Notices Cannot Be Accepted By Real Estate Agents
A purchaser has a right to terminate a contract of sale within 3 business days after signing a contract of sale. This right is commonly referred to as the ‘cooling off right’. The cooling…
Posted on 29 Feb 2016Verification of Identity
From 9 November 2015, we must comply with new verification of identity requirements before any paper instruments or dealings can be lodged at Land Victoria for registration and before we can hand you any…
Posted on 29 Feb 2016Purchasing a new home, “buyer beware”
and the importance of building and pest inspections For most Australians, purchasing a residential property to live in or as an investment is one of the largest financial outlays that they will make in…
Posted on 4 Jun 2015Are electronic signatures valid?
A contract of sale of land must be in writing and signed by the parties. These requirements were principally designed to reduce fraud as it prevents one party to the transaction claiming or denying…
Posted on 1 Apr 2015Deposits on Purchase of Real Estate
An increasing issue confronting purchasers is a lack of understanding or their contractual obligations regarding the payment of the deposit and the possible consequences of a failure to meet those obligations. The standard Contract…
Posted on 4 Mar 2015Fencing Laws in Victoria
The Fencing Act 1968 (Act) has been amended by the Fences Amendment Act 2014 (Amendment Act) which commenced on 22 September 2014. The Amendment Act aims to facilitate fairer dealings between neighbours over shared dividing fences and…
Posted on 4 Dec 2014Caveats
What is a caveat and how does it work? The word caveat derives from Latin and means ‘beware’. A caveat maybe lodged over the title to a property and acts as a warning to…