House and Land Package – Some tips to share
House and Land Package – some tips to shareIntroductionIt’s noted the “house and land package” in the property market has maintained its popularity over the years. It’s difficult to find a brand new four-bedroom free-standing house within a 30 km radius from the Sydney CBD under $1 millio
New Australian Visa Policies Applicable to Hong Kong
The Prime Minister of Australia, the Honourable Scott Morrison MP, has announced yesterday that new visa policies and measures aimed to attract students and business talents from Hong Kong to Australia, and allow them to stay in Australia, will be offered to “Hong Kong passport holders”. It is not
Off-the-plan Stamp Duty Concessions in Victoria
The state of Victoria, specifically its capital Melbourne, has many high-rise and multi-occupancy residential developments completed and ongoing. Regeneration and redevelopment projects resulting in high-rise skyscrapers have dramatically changed Melbourne’s skyline in the past decade. Such multi-o
Intervention Orders In VIC
An individual (the applicant) (or police department but today we only talk about the individual application) may apply for an intervention order in the Magistrates Court of Victoria which places legal restrictions upon another individual (the respondent) and prohibits the respondent from engaging in
Preparation of Contract for the Sale and Purchase of Land in New South Wales
A contract for the sale and purchase of land (Contract) comprises three sections: The first being the substantive contract, usually the standard contract drafted by the Law Society of New South Wales and the Real Estate Institute of New South Wales, containing general conditions; the second being th
New FIRB Approval Requirements Pausing Foreign Investment in Australia
IntroductionThe Treasury has announced that the monetary threshold for foreign investment requiring approval from the Foreign Investment Review Board (FIRB) will be lowered to $0 from 10:30pm on 29 March 2020. The change will mean that all applicable foreign investment actions, no matter their
Changes to CGT Main Residence Exemption
A capital gain or capital loss on an asset is the difference between what it cost you and what you receive when you dispose of it. Capital Gain Tax (CGT) is the tax on the capital gain you make when you sell a capital asset, for example real estate, which usually will significantly increase the tax
Binding Financial Agreements
BINDING FINANCIAL AGREEMENTSAlso known as prenuptial agreements, binding financial agreements (BFA) set out how the parties to a marriage or defacto partnership wish to deal with their property or financial resources in the event of separation or divorce. Parties can entered into a BFA b
Risk Management for Purchase of Property
IntroductionAustralia’s bushfire has lasted more than a hundred days this season, and by the time this article publishes, there are still numerous patches of wildfires in the state of New South Wales that were ranked by the NSW Rural Fire Service as “uncontrollable”.It happens so often that
A Brief Introduction to Legal Fees: The Difference between Trust Account and Office Account
Clients who may be new to legal services may have queries as to the difference between our trust account and office account. What is the difference between these two accounts? When are they used? This article intends to provide an answer to these questions.A first and foremost point to make is