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 using the conveyancing process. Remind me again...

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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 Conveyancing Contract that deal with conditions and Settlement due dates. As discussed below, this is particularly...

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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 under a Queensland Conveyancing contract? 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. ...

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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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New ATO measures affect Sellers and Agents

Just when you thought the dust had settled after the significant reduction of red tape in the Queensland property sector through the repeal of PAMDA and the introduction of the Property Occupations Act, fresh red tape is about to entangle...

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PEXA Electronic Conveyancing

Drawing near is the end of manual paper and cheque settlements as we know them. PEXA (Property Exchange Australia) is a National platform providing near instantaneous financial and title registration settlements across Australia. They recently launched Queensland Conveyancing Transfers at...

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