If you are selling your property and it is worth over $750,000 make sure you obtain a clearance certificate or you will lose 12.5% of the sale price. In 2016 Australian Tax Office imposed a new tax on Foreign Residents to aid in the collection of Foreign Investors tax liabilities. As of 1 July 2017 …
The Retail Leases Act 1994 applies to most retail shop leases in NSW. The NSW parliament has passed legislation to amend the retail leasing regime in NSW. This legislation will mean significant reforms, and will impact both landlords and tenants of retail premises in NSW. Key changes include: Abolition of a minimum 5 year term. …
Is your building 1000m2 or more? The Commercial Building Disclosure Programme (CBD) threshold is set to expand on 1 July, 2017 If you own a commercial office building of 1000m2 or more from July 1, 2017 you are now required to produce a Building Energy Efficiency Certificate (BEEC). This certificate will provide you with a …
Most people would see selling a property as a short-lived transaction and on face value it is – an agent lists your property, they find a buyer, the property settles and they move onto their next listing, never to be heard from again. Whilst we are sure that does happen in the industry, Taylor Nicholas …
If you are an owner of a strata unit you would more than likely come across the term “Unit Entitlement”. Many people believe that it is based on the size of the lot, it’s not! The haphazard way of determining the entitlement on smaller schemes may have put you at a disadvantage. When developers register …
Collective Sale and Renewal On 1st July 1961 the NSW Conveyancing (Strata Titles) Act came into force with the first strata being registered in Burwood. 55 years on and we now see a lot of strata buildings become very tired with minimal refurbishment and updating. On 28th October, 2015 the NSW Parliament passed legislation in …
MAKE SURE 10% OF YOUR PROPERTIES VALUE DOESN’T GO TO THE TAX OFFICE. In a bid to assist in the collection of foreign residents’ Australian tax liabilities, from 1st July, 2016 the Australia Tax Office will direct ALL purchasers of certain types of property to withhold 10% of the purchase price and pay it directly …
Land Ownership, Joint Tenancy V Tenants in Common When acquiring property with friends, family or business associates make sure you are aware of the differences between the two forms of legal ownership, Joint Tenancy or Tenants in Common. The default agreement tends to be as joint tenants though the difference is enormous. There is one …
