Foreign resident capital gains withholding payments

Foreign resident capital gains withholding payments The Federal Parliament recently passed changes to the existing Foreign Resident Capital Gains Tax withholding scheme to capture a much larger segment of the Australian property market. Remind me again what this is all...

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New Smoke Alarm Laws

What are the changes to the Smoke Alarm laws? The Queensland Government recently introduced changes to Smoke Alarm laws, aimed at making “Queensland households the safest in Australia in relation to fire safety.” The new law (the Fire and Emergency...

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When will Settlement be?

With Christmas fast approaching, we thought it would be timely to discuss some of the obvious (and not so obvious) clauses in the REIQ Contract that deal with conditions and Settlement due dates. As discussed below, this is particularly important...

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Real Estate fraud – how to avoid being duped

“It is unclear how many people may have been responsible for the sophisticated scam that shocked Canberra's real estate industry.” Frightening facts have emerged of how scammers duped a Canberra real estate agent into selling a client’s property without her knowledge. ...

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Clause explanation series: the Deposit

What is a deposit? A deposit is a sum of money paid under the Contract, prior to or at settlement, which could be forfeited and kept by the Seller if the Buyer breaches the Contract.  A deposit should not be...

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Queensland Government’s new foreign acquirer duty

In the 2016/17 Queensland Budget, the treasurer announced a new Foreign Acquirer Duty payable by foreign buyers of residential property in Queensland. How much is the additional duty? The tax will be payable in addition to normal conveyancing stamp duty...

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Goodbye PAMDA. Hello new Property Laws!

On 1 December 2014 the Property Agents and Motor Dealers Act 2000 (PAMDA) was replaced by four new pieces of legislation: Property Occupations Act 2014 Motor Dealers and Chattel Auctioneers Act 2014 Debt Collectors (Field Agents and Collection Agents) Act...

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