Categories for News

Brokers Bracing For Shake-up

6/2/2019
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Commissioner Kenneth Hayne has delivered recommendations from the royal commission into financial misconduct that could see consumers forced to pay upfront mortgage broker fees. The recommendations for the radical shake-up to the broking industry was not unexpected, in early 2017 The Australian Securities & Investments Commission (ASIC) conducted a “Review of mortgage broker remuneration”.READ MORE HERE These are the occasions when a peak body association has to advocate practical solutions that find a balance between its member’s interests and consumer expectations. The...

Foreign Buyers Duty Form required by all Buyers

18/1/2019
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On 1 January 2019, foreign transfer duty and foreign landholder duty came into effect by amending the Duties Act 2008. The additional 7% duty applies to acquisitions of residential property where the buyer or transferee are foreign persons, including foreign companies and trusts.What does this mean to you? Every buyer or transferee that acquires or purchases land in Western Australia is now required to complete and lodge a Foreign Transfer Duty Declaration Form within two months of executing the dutiable transaction.If you represent a...

2018/2019 Landgate regulated fee and commercial (non-regulated) price increases

6/1/2019
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Regulated products and services From 1 July 2018, Landgate’s regulated fees are due to increase approximately 1.5 per cent,in line with the average forecast rate of the Consumer Price Index (CPI). The proposed fees are available on our website. Please be aware these are subject toapproval from the Governor in Executive Council and publishing in the Government Gazette. The final fee schedule will be on Landgate’s website as soon as this approval is received. Commercial (non-regulated) products and services From 1...

Foreign Buyers Duty Surcharge

10/10/2018
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CIRCULAR 17 DUTIES ACT 2008 Foreign Buyers Duty The Duties Amendment (Additional Duty for Foreign Persons) Bill 2018 (‘the Bill’) was second read into Parliament on 13 June 2018. The Bill operates to amend the Duties Act 2008 (‘Duties Act’) to impose additional duty on certain transactions involving foreign persons or entities acquiring residential property in Western Australia.These amendments are subject to the passing of the Bill by Parliament and the granting of Royal Assent. The changes are proposed to come into effect on 1 January...

DMc – A1 Conveyancing Won it again

19/7/2018
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A1 Conveyancing is Settle-brating Top Community (Nationwide) Winner Award 2nd year in a row! Ranked Gold Sponsor Status!Who is better equipped to handle your e-settlement!?!?! Source:https://community.pexa.com.au/t5/PEXA-Community-Blog/Community-Turns-Two/bc-p/11125#M126

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...