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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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. [...]
The stamp duty exemption on transfers of property is about to change. The Victoria Government pursuant to its 2017 Budget and the introduction of the State Taxation Acts Amendment Bill 2017[1] (the Bill) intends to withdraw the exemption for payment of stamp duty between spouses and domestic partners in relation [...]
Securing presales is a critical aspect of any property development project - but that’s only half the battle. The trick is making sure they settle. Long construction lead times and project delays mean settlement may not occur until up to several years after a purchaser signs a contract. The occurrence [...]
Ted Vlahos, Director at Pointon Partners, writes about managing settlement risk in high-volume, off-the-plan transactions in the current property development market. This article was recently published on page 6 in Marshall White's newsletter. MW Project Market Newsletter_E10_V9_LR_SPREADS Authors
As a result of the High Court of Australia’s recent decisionin Simic v New South Wales Land and Housing Corporation [2016] HCA 47, those providing performance bonds or bank guarantees in respect of property-related matters are on notice that if the name of the person to benefit from the documentation is misstated, this will preclude [...]
