Property Law

The Conveyancing Legislation Amendment Act 2018 (NSW) does not as yet include the draft Regulations with key details on how these amendments will operate and be implemented. Changes to the rescission rights in NSW The Act gives purchasers buying apartments or...

What is a Priority Notice? A Priority Notice records the priority of an anticipated transaction on title, including the order in which it is to be lodged. Why lodge a Priority Notice? Whether purchasing, selling or transferring property the registration of a Priority...

In todays’ property market it is has become quite common for purchasers to request the payment of a 5% deposit in lieu of a 10% deposit, which can at times be out of reach with today's high property prices. If agreed, the contract for the sale and purchase of land...

The margin scheme is an alternative way of calculating the GST payable when a seller sells a property as part of a business. The Margin Scheme can only be applied if the sale is a taxable supply. The amount of GST payable on property sales is generally one-eleventh of...

REQUISITIONS ON TITLE EXPLAINED Requisitions on title are essentially questions relating to the sale of a property drawn up by lawyers. During the conveyancing process, and within 21 days from the date of the contract, the Purchaser's legal representative will make...

Commencing 1 July 2018, eligible persons aged 65 years or over who after 1 July, 2018, enter into a contract to sell a property they have owned for a minimum of 10 years will be entitled to contribute an amount of up to $300,000 from the sale proceeds into their...

The First Home Super Saver (FHSS) scheme was introduced as part of the 2017-18 Federal budget.  Commencing 1 July 2017, eligible participants have been able to make voluntary concessional (before-tax) and non-concessional (after-tax) contributions into their super...

Subject to what land you own, land tax is a tax levied on the owners of land in NSW as at midnight on 31 December of each year. Land tax can apply to land whether or not income is earned from the land. The definition of land includes: vacant land, including vacant...

Whilst the fundamentals to buying or selling a commercial property are the same, residential and commercial transactions differ in a number of aspects. When selling/purchasing a commercial property there is no requirement that a contract be prepared prior to marketing...

A question that seems to come up quite regularly is whether you can change the name of the purchaser once contracts have been exchanged. The scenarios that may arise include; Someone may buy a property at an auction then speak to their accountant who suggests that it...