Categories for Sub Division

Biosecurity and Agricultural Management (BAM) Act and Settlement

6/4/2020
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Biosecurity and Agriculture Management Act 2007 Western Australia’s defences against potentially devastating pests and diseases were strengthened with the Biosecurity and Agriculture Management Act 2007 (BAM Act) coming into effect on 1 May 2013. What the BAM Act does. The BAM Act and associated regulations were enacted on 1 May 2013. The new BAM Act takes the place of 16 older Acts and 27 sets of regulations with one Act and nine sets of regulations and enhances protection of the...

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...

Purchaser’s obligation to pay an amount for GST on taxable supplies of certain real property

27/4/2018
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LCR 2018/D1Purchaser’s obligation to pay an amount for GST on taxable supplies of certain real property “Schedule 5 of Treasury Laws Amendment (2018 Measures No. 1) Act 2018 (the Act) introduces provisions that require a purchaser of certain types of real property to make a payment to the Commissioner that represents the GST payable by the vendor. As a consequence, the purchaser then does not have a liability to the vendor for that amount.  Subject to certain exclusions a purchaser’s liability...

Changes to REIWA General Conditions in 2018

21/2/2018
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Some highlighted changes to the 2018 version of Joint Form of General Conditions (JFGC), might mean that you could see some differences to the 2011 JFGC. Please note, we are not lawyers and are merely relaying some discussions as generically covered in an industry forum. The biggest concern was the ‘Lawyers picnic’ referenced as clause 9.3, where opposing lawyers could argue just about any outcome they desired, for a breach of warranty. Service by email still needed to be ‘signed’...

GST Withholding – buyer of newly constructed homes & new subdivision properties.

25/1/2018
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Makes me laugh that “the Federal Government will strengthen compliance” BY MAKING OTHER PEOPLE DO THEIR JOB!!!! Yet another coming tax trap for buyers of new properties. GST Withholding.From 1 July 2018, the Federal 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. Under the current law (where the GST is included in...

The “Next Step” A transition to paperless conveyancing

16/9/2016
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AICWA recently advised members of the decision by The Registrar of Titles Ms Jean Villani to introduce a change of lodgement processes by August 1st 2017.On August 1st this year, Landgate introduced changes to lodgement process affecting mortgagees, specifically, for the electronic lodgement of mortgages and discharges of mortgages (via PEXA).It is now envisaged that the next step towards paperless conveyancing is for the scope of eligible document types to be broadened so as to include: Transfers Caveats and withdrawals...