Tuesday, October 09, 2018
Tuesday, September 11, 2018
An instalment contract is a sale of land contract whereby the property is payed for in instalments across time. The title of the property does not transfer to the purchaser until the final instalment is paid. This type of contract differs from a typical sale of land contract which generally consists of a refundable deposit of up to 10% of the purchase price and the remainder of the purchase price being paid at settlement.
Tuesday, September 04, 2018
While the vendor in a sale of land contract cannot typically access the deposit until settlement, it is becoming increasingly common for parties to insert a special condition which allows for the early release of the deposit.
Tuesday, August 28, 2018
The unique circumstances of each a sale of land means that often the buyer and purchaser of land will require the general terms of the contract to be altered. Special conditions can be inserted to affect any aspect of the sale. It is therefore important to ensure that all special conditions are drafted carefully so that they accurately reflect the parties’ intentions. Typically, a special condition will be implemented for the benefit of one party in particular so it is essential that the other parties, including real estate agents, are diligent in checking the effect of any special conditions.
Wednesday, July 25, 2018
Treasury Laws Amendment Act – GST Withholding Obligation for New Residential Property
rom July 1 2018, purchasers of “new residential premises” and certain subdivisions of “potential residential land” are now required to withhold one eleventh of the sale price (or 7% where the margin scheme applies) from the vendor and remit this directly to the ATO.
Wednesday, May 02, 2018
While the Fair Work Commission’s amendments to the Award will produce more clarity in employee classification and fairer employment terms for employees in commission-only contracts, employees and employers alike must take extra caution in drafting their contracts to ensure they adhere to the more stringent requirements. Your existing employment/contractor structures and pro forma material may need to be reviewed to ensure compliance.
Friday, April 06, 2018
Monday, March 05, 2018
Can a landlord demand an additional bond from a pet-owning tenant? Can a landlord charge a tenant additional rent from a pet-owning tenant?