Just like many other sectors, retail and commercial tenants and landlords are currently under pressure and desperate to know what their options are in the current COVID-19 crisis. There have been reports that the Victorian Government will shortly announce the introduction of new legislation relating to rent relief for tenants dealing [...]
In line with recent legislative changes, all vendors under an off-the-plan contract will no longer be able to exercise its sunset date termination rights without first: giving written notice to the purchaser 28 days before the proposed rescission setting out certain prescribed details; and obtaining each purchaser’s written consent to [...]
Whilst homes in Victoria that are occupied as a principal place of residence are exempt from Land Tax, building works or disputes that result in homes being unoccupied for extended periods of time can have the unexpected result of a Land Tax liability. These assessments can be particularly frustrating if [...]
Almost all Victorian development agreements could soon create a stamp duty liability. Any sharing of profit by a landowner with a property developer who does not own the land in proportion to the profit entitlement could be assessable to stamp duty. In what may be described as a blind siding amendment [...]
Be Wary if you are borrowing money from an overseas entity to purchase an investment property which is not in the usual business of lending money. If you are an Australian citizen and resident of Australia for tax purposes and you are purchasing an investment property (which is not a new [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
