More Red Tape Thanks To New Taxes On Foreign Buyers
The decision by the New South Wales Government to levy additional property taxes on foreign buyers is set to have a wide ranging impact on all property transactions in the state.
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The winners and losers of strata changes
Strata laws in NSW will soon experience a significant shake-up with over 90 proposed changes to the current legislation set to take effect from November 30 2016. These changes will have the greatest impact on individual owners of strata properties by reducing restrictions on the use of their property and providing greater control in the decision making of the building.
Finalist seal - 16th Annual Lawyers Weekly Australian Law Awards
Now in its 16th year, the annual Australian Law Awards recognises the nation’s top lawyers across all levels of experience, legal teams from all practice areas and law firms of all sizes.
Foreign Resident Capital Gains Tax Withholding Scheme – What are the changes to the conveyancing process?
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).
Specialisation of consumer legal services the ‘next wave’
The legal sector is continuing to evolve and the segmentation and commoditisation of consumer legal services will soon follow that of corporate legal services, according to the director of lawlab.
State budgets have property transactions on their agenda
Recent and upcoming state budgets are bad news for foreign buyers but better news for some first home buyers.
Before you buy
Before you buy a property you need to ask yourself two key questions, how will you buy the property and what exactly are you buying? Getting answers to these two questions can make all the difference in a property investment.
NT Govt introduces First Home Owner Discount and home owner incentives to boost economy
All Conveyancing senior legal advisor Jodie Romanes discusses the new incentives announced last week.
Buyer beware - the risks of illegal building works
Illegal building is a common risk for property buyers, but most aren’t aware that their new home may just come with a disastrous DIY job. It is reported that as many as 30% of buildings in Australia have some form of illegal building, and as a buyer, it’s important to arm yourself with the knowledge of the risks that illegal building works pose.
Avoid the traps when buying interstate
It is becoming increasingly popular for investors to buy property interstate to take advantage of opportunities that may not be available in their own state.