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Taxes on Foreign Property Investors

Tuesday, November 13, 2018

Taxes on Foreign Property Investors: a summary for estate agents A raft of tax legislation changes in recent years by the Queensland Government has meant that foreign property investors are at a disadvantage with regards to purchasing residential land in Queensland. These measures have been criticised in the property industry for their negative impact on investment in Queensland property and, as a result, their effect on Queensland’s economy.
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Queensland’s New Combustible Cladding Requirements

Wednesday, November 07, 2018

The Building and Other Legislation (Cladding) Amendment Regulation 2018 came into effect in Queensland on October 1 2018 with the aim of identifying and rectifying buildings with combustible cladding. The legislation was drafted in response to the Grenfell Tower fire in London last year
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Instalment Contracts in Queensland (Real Estate Advice) from a QLD Law Firm

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.
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The Importance and Effects of Special Conditions in a Contract of Sale

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.
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Treasury Laws Amendment Act – GST Withholding Obligation for New Residential

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.
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Real Estate Industry Award Amendment Summary

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.
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