As of 1 July 2017, a 1.5% land tax surcharge is being imposed by the Queensland Government on absentee land owners. An ‘absentee’ land owner is not just a foreign owner – it can include Australian citizens who do not ordinarily live or reside in Australia. If you are living or working overseas, and are
Let’s recap on changes which have now taken effect following the latest Federal Budget. The tax increases and charges to foreign buyers are estimated to bring in an extra $600 million for the government over the next 4 years. Buyers and sellers need to be on their toes in order to comply with the changes.
Well, it is more paperwork… but it is important! Queensland legislation requires sellers of units to disclose certain matters to buyers. The amount of disclosure that is required will depend on whether the property you are purchasing is completed, or if it is to be completed at some stage after the contract has been signed.
When you sign a contract to purchase a house or unit, one of the first things your solicitor will tell you to do is – take out insurance. But what kind of insurance do you need? And why is it so important? It is easy to think – After all, I don’t own the property
In Queensland property conveyancing, dates are crucial and essential terms of the contract. In the real world, it is very common for dates to be varied by agreement between the parties. However, there are traps for the unwary! Sajen Legal are experts in smoothly handling extensions and taking the worry out of it. We take a
It is pretty normal for property lawyers to see a rush of Contracts in late November or early December, in anticipation of Christmas. Quite simply, it is very convenient to use the Christmas break as an opportunity to move. But what happens if the finance date or the time for settlement falls over Christmas or
As a general rule, transfer duty (formerly known as stamp duty), is payable on all property transfers in Queensland. However, there are various concessions and exemptions that are available in certain situations. As a matter of public policy, transfer duty is not always imposed if someone is transferring an interest in property to their spouse.
I often have people come to me from near and far and from all different walks of life. They are often looking to live and work in Australia, or just want to get into our property investment market. Whatever their situation, I have found that the requirements for Foreign Investment Review Board Approval (“FIRB Approval”)
I often get blank faces when I ask clients whether they are purchasing their property as joint tenants or tenants in common. However, you cannot avoid this question if you are looking to buy property with another person; whether they are your spouse, family members, friend or business partner. Understanding the difference between joint tenants
A business’s lease is often crucial to the success of the business. For landlords, compliance with retail lease legislation is important for the validity of the lease and therefore the value of the building. Queensland State Parliament has passed legislation amending the Retail Shop Leases Act 1994 (Qld) (the “Act”). These changes will take effect