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The sun is setting on delay tactics adopted by property developers in off the plan sales

Property developers engineering development delays and relying on developer friendly “sunset clauses” in off the plan contracts of sale contracts (OTP Contracts) to terminate those contracts and re-sell for higher prices are being targeted by the Andrews Labor Government through proposed new legislation. The Sale of Land Amendment Bill 2018 [...]

2018-09-18T18:03:03+00:00 September 17th, 2018|Categories: Property|Authors: , , |

Assignment of lease of commercial premises: To consent or not to consent … That is the question, if you’re a landlord

A recent VCAT decision narrows the circumstances in which a landlord can withhold consent to an assignment of lease. This case, AVC Operations Pty Ltd v Teley Pty Ltd (Building and Property) [2018] VCAT 931, concerned a landlord’s decision to withhold consent to an assignment of lease under s 60 of [...]

2018-08-30T14:41:03+00:00 August 29th, 2018|Categories: Property|Authors: , |

Victoria’s real estate industry thrown into chaos after Court denies estate agent’s right to receive commission – Floodgates open for claims by vendors/developers seeking to recover commission paid

A recent decision of the Victorian Court of Appeal in Advisory Services Pty Ltd (trading as Ray White St. Albans) v Augustin & Anor [2018] VSCA 95 (Advisory Services) is sure to strike fear in the heart of estate agents, particularly those acting for developers. The decision of Victoria’s highest [...]

2018-08-23T15:24:55+00:00 May 31st, 2018|Categories: Property|Authors: , |

Don’t get caught out – Be aware of what constitutes a “terms contract” when selling an interest in land

When parties negotiate settlement terms of a contract of sale of real estate, particularly when it is a long term settlement, they can inadvertently structure the terms of the transaction in a way where the contract is deemed to be a ‘terms contract’ under the Sale of Land Act 1962 (the Act). This can have [...]

2018-08-23T15:25:16+00:00 May 9th, 2018|Categories: Property|Authors: , , |

What is “Protection Work” under the Building Act 1993 (Vic)?

For the uninitiated, being served with a Form 3 "Protection Work Notice" can be confusing. We have endeavoured to provide a short explanation of what "Protection work" actually is, and the process involved. Building Permit If a building permit is required, then before it is granted, one of the things [...]

2018-08-23T15:37:35+00:00 March 23rd, 2018|Categories: Property|Authors: , |

Neighbourhood Tree Disputes

Written submissions to the VLRC inquiry into neighbourhood tree disputes closed on 28 February 2018. Practitioners in this area will await the outcome of the inquiry with bated breath. In the interim, the consultation paper prepared by the Commission contains an impressive recap of the present law, although it will be unsatisfying [...]

2018-08-23T15:22:57+00:00 March 14th, 2018|Categories: Property|Authors: |

New GST Rules Affecting Property Transactions – ATO cracking down on developers who avoid paying GST

How these new obligations will affect both developers and purchasers Treasury has released draft legislation which proposes a new process for the remittance of GST to the ATO for property transactions that relate to the supply of “new residential premises”. Why the Changes The purpose of these new rules is [...]

2018-08-23T15:20:32+00:00 January 18th, 2018|Categories: Property|Authors: , , |

The widening definition of “Retail Premises”: Is your commercial lease affected?

The Supreme Court of Victoria’s recent decision in IMCC Group (Australia) Pty Ltd v CB Cold Storage [2017] VSCA 178 has confirmed that a wide interpretation of ‘retail premises’ should be used for the purposes of the Retail Leases Act 2003 (Vic) (Act).  This included a finding that ‘the ultimate [...]

2018-08-28T16:54:59+00:00 August 10th, 2017|Categories: Property|Authors: , |

Vendors Beware – Purchasers Of Australian Property Worth $750,000 Or More May Now Be Required To Withhold 12.5 Per Cent Of Purchase Price At Settlement

If you are a vendor or purchaser of an Australian property with a market value of $750,000 or more, the Government’s recent reforms to improve housing affordability may directly affect you. The Government announced, as part of the 2017-18 Budget, that purchasers of certain taxable Australian properties from foreign resident [...]

2018-08-30T12:44:54+00:00 July 2nd, 2017|Categories: Property|Authors: , |

Land banking and primary production exemption from land tax – are they mutually exclusive?

At first thought, ‘land banking’ and primary production exemption from land tax would appear to be mutually exclusive. A landowner’s intention when land banking is to profit from future sale of its land, which is significantly different to the intention of a landowner that uses its land for primary production. [...]

2018-08-31T16:20:53+00:00 May 30th, 2017|Categories: Commercial, Property, Taxation|Authors: |