From 1 July 2021, new laws designed to prevent and reduce harm from pollution and waste, including circumstances where this has caused contamination of land and groundwater are coming into effect in Victoria. Contaminated land duties Two key new changes include the duty to notify and the duty to actively manage contaminated land. The duty …
On 1 March 2020 new disclosure obligations upon Vendors and their agents came into effect with changes to the Sale of Land Act 1962 (Vic) (Act). Vendors and their agents must now disclose “material facts” to interested parties during negotiations for the sale of real estate (Material Facts). New section 12(d) of the Sale of Land Act …
Disclosure of “Material Facts” When Selling Real Estate Read More »
The Federal Government today announced a new stimulus package for the construction sector. Owner-occupiers who enter into a building contract to construct a new home or substantially renovate an existing home before 31 December 2020 may receive a HomeBuilder grant of $25,000.00. The value of the new home (including the land) must be $750,000 or …
Victoria’s emergency pandemic commercial leasing regulations came into effect as from 1 May 2020, bringing into law the Federal Cabinet’s commercial leasing Code with some exceptions and additions. The COVID-19 Omnibus (Emergency Measures) (Commercial Leases and Licences) Regulations 2020 (Vic) (Regulations) apply from 29 March 2020 to 29 September 2020 granting a right to rent …
The much anticipated COVID-19 Omnibus (Emergency Measures) Bill 2020 has passed both houses of the State Parliament today (Act). However, the catch is that the Act itself doesn’t endorse the Federal Cabinet Mandatory Code of Conduct for SME Commercial Leasing Principles just yet, but rather has authorised the creation of regulations that will give effect …
Last week we issued a publication on the release of the Federal Government’s mandatory code of conduct for commercial leasing (Code). In support of the National Cabinet agreement to implement the Code the State Government has announced that it will urgently legislate so that businesses eligible for the JobKeeper program can also access the Code’s …
State Government Announces Landlord and Tenant Relief Read More »
The Australian Government on 7 April 2020 released a mandatory code of conduct (Code) which has been deemed to take effect from 3 April 2020 requiring commercial rents to be reduced by the same proportion that the tenant’s revenue has fallen for the period during which the Commonwealth JobKeeper program remains operational.
Overview The Federal Government announced a new GST withholding regime in the 2017-2018 Federal Budget which has now been passed by the Federal Government. The regime will apply to contracts of sale for new residential premises and new subdivisions which are entered into after 1 July 2018. Purchasers under these contracts of sale will now …
On 1 July 2016, new capital gains tax withholding laws came into effect around Australia. The aim of the legislation is to recoup unpaid capital gains tax from foreign residents who dispose of property in Australia. However, the way in which the laws have been drafted mean that all parties to an agreement under which …
