Categories for Building

Non-Compliant Building Work?

24/10/2018
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Are your Clients protected against the risk of Non-Compliant Building Work? By Paul Watkins,  General Counsel, Australia  Stewart TitleThe enforcement powers of Local Authorities to issue building notices and building orders for unapproved building work is a risk which is well known among settlement agents in Western Australia. However, the issue of non-compliant building work also poses a significant risk, particularly as purchasers and their settlements agents may be lulled into a false sense of security if the Orders & Requisitions...

GST Withholding Bill – new residential properties and subdivisions – expected 1 July 2018

2/9/2018
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The GST on property transactions measure has been introduced, as schedule 5 to the Treasury Laws Amendment (2018 Measures No. 1) Bill 2018.To recap:The Government will strengthen compliance with the Goods & Service Tax (GST) law by requiring purchasers of newly constructed residential properties or new subdivisions to remit the GST directly to the Australian Taxation Office (ATO) as part of settlement. The measure will require the purchaser of newly constructed residential properties of new subdivisions to remit the GST...

More RCD’s in new buildings from 1/1/19

12/6/2018
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AICWA members will be aware that since 2007, all new residential premises must be fitted with at least two RCD’s (as per AS/NZS standard 3000:2007) For all domestic dwellings built before 2007, the vendor must arrange for the RCD’s to be installed before transfer of title or prior to the renting/leasing of the premises. A new version of AS/NZS 300 was released on June 26th. ASNZS 3000:2018 will commence on January 1st 2019. The new standard requires an RCD to...

Suspect a water leak, How to detect it & what to do…

11/8/2017
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Leaks can be extremely wasteful and costly. Regularly checking taps, pipes and fittings around your property could save precious water and precious money! How can I detect a leak?To conduct a leak detection test yourself, follow these simple steps:Step 1: Ensure no water is being used in your house (turn off all water appliances, such as washing machines and evaporative air conditioners).Step 2: Read the black and red numbers on your meter. Record the black numbers from left to right. The black...

Foreign Investment change

9/6/2017
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New Charge for Foreign Owners for Empty Properties Foreign persons who apply for approval to purchase residential property after 9 May 2017 will face a new annual vacancy charge to be imposed if the property is not occupied for at least six months per year.The charge will be levied annually and will be equivalent to the purchase application fee imposed at the time the property was acquired by the foreign investor.Details of the new charge can be viewed HERE FIRB approval for sale of...

MORTGAGEE SALES – AN EXPERIENCED AGENT EXPLAINS THE PROCESS AND THE PROS & CONS

2/1/2017
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When a potential investor or buyer hears the term “mortgagee sale” or “repossession” you can often see the dollar signs in their eyes. There is a common view that mortgagee sales come with a lower than market value price. This can be correct in some cases, however thorough due diligence should be conducted before purchasing this type of property. Below we will look into the usual process in WA for mortgagee sales, as well as the pros and cons of...