The Australian Federal Court has issued the first penalty order for breaches of Australia’s foreign investment rules, resulting in $250,000 in penalties: Commissioner of Taxation v Balasubramaniyan … [Read more...] about Purchase of Residential Real Estate by Foreign Investors
We literally handle hundreds of sales and purchases of property each year, and whilst our main role is to guide our clients through the legal aspects of the transaction, there are often many non-legal … [Read more...] about Frequently asked questions about buying / selling property
The following is a summary of recent the current state of the various Federal Government Schemes and Grants which apply to first home buyers as well as the recent HomeBuilder Grant scheme. First … [Read more...] about Know your entitlements as a First Home Buyer or Home Builder
New laws are expected to come into force on 1 December 2019 when the Conveyancing Legislation (Amendment) Act 2018 and Conveyancing (Sale of Land) Amendment Regulation 2019 commence. These impose … [Read more...] about OFF THE PLAN CONTRACT REFORMS
Picture this – you advertised your property for sale, endured countless open houses and inspections, and finally, someone offered you a price which you accepted, contracts exchanged, and now the … [Read more...] about Your obligations regarding maintenance of the property you have just sold
If you have purchased a property with someone else, it is likely that you’ve at least had an initial chat about sharing the costs of owning the property – but have you discussed what happens if one of … [Read more...] about The importance of having a co-ownership agreement
PEXA ("Property Exchange Australia") is the new electronic property settlement portal, making life easier for solicitors and conveyancers, but what are the benefits to you as a client? To name just … [Read more...] about Why our clients love PEXA
The New South Wales Government introduced legislation last year bringing into effect surcharges on stamp duty and land tax, to be payable on residential property purchased or owned by anyone falling … [Read more...] about Surcharges on stamp duty and land tax for foreign persons – will it affect you?
As you may be aware, owners of certain types of property are required to pay capital gains tax when the property is sold. This is normally accounted for when the vendor does their next tax return. … [Read more...] about Extra steps for property sales over $2 million
A few years ago, Shire Legal acted for a client purchasing a property at Kurnell. There was nothing particularly unusual about the transaction – it was a standard family home being sold from one … [Read more...] about What is the problem with unapproved building works?