Housing affordability has been a hot topic over the past year. Lawlab summarises some of the federal, state and territory policies that benefit first home buyers, with recent budget announcements highlighted and more to come.
Last year on 1 July 2016, new legislation was introduced to combat low levels of compliance by foreign residents paying tax in respect to Australian capital gains. It meant that when a foreign resident disposes of certain taxable assets, the buyer of that asset will be required to withhold 10% of the purchase price and pay that amount to the Australian Tax Office (ATO).
First home buyers will pay no stamp duty on properties valued below $600,000 that they intend to use as their principal place of residence. As an example, first time buyers could save as much as $15,535 in stamp duty on a property valued up to $600,000.
When you get to an age where you don’t want roommates anymore, hang a picture anywhere you please and have your money go towards your own investment – not someone else’s – you start thinking about buying your own home.
From 15 August 2016 NSW Real Estate Agents have new responsibilities relating to property inspection reports.
What does this mean for Agents?
Foreign Resident Capital Gains Tax Withholding Scheme – What are the changes to the conveyancing process?
What is it?
With effect from 1 July 2016 new legislation has come into operation, whereby when a foreign resident disposes of certain taxable assets, the buyer of that asset will be required to withhold 10% of the purchase price and pay that amount to the Australian Tax Office (ATO).
Recent and upcoming state budgets are bad news for foreign buyers but better news for some first home buyers.
All Conveyancing senior legal advisor Jodie Romanes discusses the new incentives announced last week.
A recent survey of REIV members found more than 70 per cent of agents indicated underquoting laws require change. Consumer Affairs Minister, Jane Garrett, has proposed significant reforms to the Estate Agents Act 1980 (‘EAA’) to address this sentiment and tackle rogue operators within the industry.
To conclude our three part educational blog series on conveyancing, lawlab legal director Richie Muir explains tips for a stress free conveyancing experience. Regardless of whether you’ve sold the family home, found a new dream apartment or just negotiated a great price on a new interstate investment property – there is a...
Welcome to part two of our three part educational blog series by lawlab Legal Director Richie Muir who explained last week the fundamentals of conveyancing. This week Richie looks at five questions you should ask your conveyancing lawyer, and will next week offer tips for a stress free conveyancing process. ...
A new VOI regime started in Victoria on 9 November 2015. This regime aligns all conveyancing transactions in Victoria with the VOI requirements for e-settlements. This means that all lawyers, conveyancers and financial institutions must take reasonable steps to verify the identity of their clients and customers. Reasonable steps includes a face to ...
When you’ve made the decision to sell you want the process to be as easy as possible. You want to avoid lengthy delays, unexpected costs and uncertainty. Seek advice from us at lawlab before you sign any contract. In Victoria, a contract must be accompanied by a vendor statement, wh...
When you’ve made the decision to sell you want the process to be as easy as possible. You want to avoid lengthy delays, unexpected costs and uncertainty. Seek advice from us at lawlab before you sign any contract. A sale contract must be prepared before you can advertise your re...
New Tech Partnership to Revolutionise Property Transactions Conveyancer Streamlines Sales Regional agent transforms business with technology
If you are engaged in a transaction that involves real property in Australia, it pays to have a good conveyancer on hand. The right person will help to make the process as smooth, streamlined and headache-free as possible. The wrong person however can make an already complicated process even worse.
Buying or selling a property is never an easy task; after all it involves numerous activities and legal tasks that not every individual is aware of. A potential seller will always desire to get great deal for his house while the potential buyer would be looking out for nothing but a lucrative property deal to invest into and both of these parties are in dire need of a specialist that commands an expertise on handling such deals.
In the age of technological advancement in web media conveyancing firms are somewhat lagging behind when it comes to adopting digital marketing for the promotion their services. Herein are some approaches that conveyancers should look to in order to widen the scope of prospective clients.
eConveyancing is an ability to perform lodgments and property settlements online through a special electronic workspace. The system has been on the horizon in Australia for a number of years, gaining momentum to grow and prosper.