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A Quick Guide to GST & Real Estate – What You Need to Know
Registering for goods and services tax, or GST, is a vital part of commercial property investment. GST is often overlooked, which is an all-too-common mistake that amateur investors make. Factoring GST in your budget will save you a lot of effort and resources. While GST is a complicated topic and its intricate details can be...
Transfer Duty Exemptions for Home and Property Owners
One of the greatest assets you may ever have is your home. There are a variety of circumstances where you may acquire a place of residence with full or part ownership. In Queensland, a transfer duty applies when you acquire such an asset. However, there is a grey area as to when you may not...
What You Should Know About Updates on GST Withholding Rules
The transitional period for GST withholding rules is coming to an end, and with it comes new circumstances, especially for contracts started before 1 July 2018. Beginning on 1 July 2020, previously exempt agreements unsettled on or before 30 June will be subject to the withholding rules. Under the transitional provisions, old contracts for the...
Why You Need a Lawyer in Commercial Property Transactions
For any kind of business or investor, it goes without saying that the process of purchasing or selling a commercial property of any kind is a crucial experience and a significant investment decision in itself. While any kind of investment decision bears its own significance, commercial property transactions are particularly vital because of their impact...
3 Considerations to Make Before Entering a Commercial Lease
Many who cannot afford to build their own business property have opted for commercial leases as more affordable alternatives. Like how a tenant rents an apartment, a tenant in a commercial lease rents a property for business purposes while paying rent to the landlord. If you are planning to enter a commercial lease, you must...
4 Common Real Estate Mistakes Regarding GST – What to Know
Tax is one of the biggest components of our daily life yet is also one of the most commonly misunderstood. Taxation, in general, affects nearly all of our purchasing decisions and is guided by the laws set by the Australian Taxation Office. While many generally think nothing of it, some common misconceptions can become more...
Understanding GST on Residential Land Acquisitions
Before July of 2018, those looking to purchase a residential property and are registered for GST pay it on top of the property’s price to the vendor, which is then given to ATO (Australian Taxation Office). For those who did not register, it’ll be included in the property’s price and would be the responsibility of...
Our Guide to Conveyancing When Moving Into a New Home – What to Know
Buying a new house is often an exciting time for first-time home-buyers, though the process can be intimidating as it can look like a minefield of legal knots, paperwork, and expensive out-of-pocket fees along the way. The process between the offer on the house down to when you receive the keys can be tricky as...
Keeping you home safe with compliant smoke alarms and safety switches
When purchasing or selling your property, you must ensure that there are compliant smoke alarms and safety switches installed in the property. In Queensland, it is an offence under the Fire and Rescue Service Act 1990 if a compliant smoke alarm is not installed and under the Electrical Safety Regulation 2002, all domestic residences constructed...
Important Steps to Know When Selling Your Property
Selling your home can be Stressful Dealing with Agents and Buyers and potentially buying a new house at the same time can be daunting and stressful. While the checklist of what you are required to do is a lot shorter than if you are a Buyer there are some very important steps that can affect...
Do I Need to Provide a Pool Safety Certificate to Sell my House?
Pool safety laws have reduced the number of drownings, and are an important factor in the sale of properties with pools. Do I need to provide a Pool Safety Certificate to sell my house? No, but you will need to provide a Form 36 -Notice of No Pool Safety Certificate. Pool Safety Certificate Simply if...
Thinking of Selling Your Property?
Selling a property can be a stressful process. Your expert conveyancing lawyer will help make the conveyancing process as easy as possible so that you can relax and enjoy the process as much as possible. Below is a checklist of what you will usually need to do at each stage of the sale process: Signing...