Life interests v a rights of residence – understanding the difference
Property rights in Australia can be a difficult landscape to navigate and when it comes to estate planning, the terms “life interest” and “right of residency” often surface. While these terms might sound similar concepts, they actually represent different legal...
Easements, Covenants and Caveats
In Victoria, the trio of easements, covenants, and caveats play a pivotal role in defining and safeguarding property interests. But what are they? Easements Essentially an easement grants a legal right to use someone else’s land for a specific purpose, such as access...
Stamp duty exemptions for current and former spouses or domestic partners
When you transfer property between you and your ex as part of a property division, you may not turn your mind to the issue of whether stamp duty might apply to certain transactions. Stamp duty is the tax paid to the State Government upon the transfer of property,...
Foreign Investment Review Board (FIRB) Requirements
Foreign residents must usually obtain approval of Foreign Investment Review Board (FIRB) prior to the purchase of Australian residential property. FIRB's requirements are summarised below. When is FIRB required? Subject to some exceptions and qualifications, a...
What is Windfall Gains Tax?
In October 2021 the Victorian Government introduced a significant new tax payable by some Victorian landowners whose land is rezoned resulting in an uplift in the land value. The Windfall Gains Tax Act 2021 (the Act) will take effect and impose the Windfall Gains Tax...
What is a Section 173 Agreement?
You may have heard of Section 173 Agreements in the course of your property dealings but, you may not have considered what these agreements are actually about. A Section 173 Agreement is essentially a contract between a municipal council and a registered proprietor...
The Various Ways Construction Lawyers Can Help You
Understanding the legislation and the impact of contract terms on construction projects and building works is a complex process. It is an area that requires the perfect marriage of good legal skills and a thorough understanding of the imperatives and typical pain...
50% Stamp duty Concession Available on House and Land Packages
Buyers of residential property may be eligible for stamp duty waiver of up to 50% of duty payable on property purchases. The concession applies to contracts entered into from 1 July 2021 to 30 June 2022 and is subject to conditions. This concession is a temporary...
Apartment Living and Pets
Last year it was decided in a landmark cause in the NSW Court of Appeal that a blanket ban by an Owners Corporation on pets can be invalid. In Cooper v The Owners Strata Plan No 58068 [2020] NSWCA 250 the OC argued that a 13 year old miniature schnauzer could not be...
A vendor’s disclosure obligations don’t stop with a Section 32 Statement
If you have ever bought or sold a property, you would likely be familiar with the terms “Vendor’s Statement” or “Section 32 Statement”. These Statements are consumer-protection measures which are designed to provide certain key information about the property to a...
Owners Corporations – A Change is Coming
The Owners Corporations and Other Acts Amendment Act 2021 (‘the Act’) was passed by the Victorian Parliament last month and introduces changes to the Owners Corporation Act 2006, Retirement Villages Act 1987 and certain provisions of the Subdivision Act 1998. These...
Are You A Tenant Or Landlord? You Need To Be Aware Of Recent Law Changes
On 29 March 2021 over 130 rental law reforms were put in place making it the biggest overhaul for the industry in over 25 years. These changes affect not only private rentals but also caravan parks, rooming houses and residential villages throughout Victoria. The...
What Is a Caveat? Do I Need One?
Caveats are used to protect your interest in property and acts as a statutory injunction to prevent certain dealings from being registered. A caveat acts a warning to anyone dealing with the land that someone has a legal interest in that property. The party who has...
How Does A Restrictive Covenant Affect Me?
If you are looking at purchasing a property, or looking to develop your own property, you may find that there is a covenant registered on Title. If this is the case, you need to understand what a covenant is and what affect is has on you, your land now and in the...
What is an Owners Corporation?
If you are an owner of an apartment, a flat or a unit, you are likely a member of an owners corporation, previously known as a ‘body corporate’. An owners corporation is like the communal management structure for a complex of dwellings (or commercial properties)....
Victorian Government Announces Tax Reductions
Last week the Victorian Government announced temporary stamp duty reductions and other financial incentives in an attempt to rebuild Victoria’s property market after a horror year for the economy due to the COVID-19 pandemic and bushfires. Stamp Duty Victorians who...
The Right To Cool Off
There are many important notices, warnings and conditions associated with Contracts for the Sale of Real Estate in Victoria designed to alert purchasers to the consequences of the decision they are making. However, even after you have signed a contract, you may...
Do You Need a Labour Hire Licence?
The Labour Hire Licensing Act 2018 came into operation on 29 October 2019. The legislation followed media publicity about questionable practices of some labour hire providers. The most publicised examples were fruit and vegetable pickers and process line workers in...
Absentee Owner Surcharge
It is almost the time of the year that if you are an absentee owner in 2019, you need to log onto the Absentee Owner Notification Portal between 2 January 2020 - 15 January 2020 to notify the State Revenue Office. Absentee Owner Land Tax Surcharge was introduced by...
Australian Government Foreign Investment Review Board, Residential Real Estate- Annual Vacancy Fee
The annual vacancy fee is part of the Australian Government’s plan to address housing shortages. The plan is intended to encourage foreign owners of residential real estate to make their properties available for rent where they are not occupied, and so increase the...
Important Legislative Changes to Short-stay Accommodation
From 1 February 2019, legislative reform has come into effect which significantly impacts the responsibilities of owners who provide short-term accommodation. The concept of short-term accommodation has proven extremely successful for both owners and guests, as it...