Immanent Settlement; Have you discovered an issue, like damage or some defect that IS covered under your contract at the final inspection?
After recommending Legal Advice (since we are not lawyers). Often the quickest & cleanest way forward with a pending settlement is to arrange a “Payment in lieu” variation.
Something along the lines of;
Budget 2017 Update
GST On New Residential Purchases
From 1 July 2018 the Federal Government will require all purchasers of new residential premises (new builds) to remit the GST component previously provided by developers/builders directly to the ATO as part of the property settlement process.
Little is known of the changes other than what has been recently posted on the ATO website HERE
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 new apartments limited to 50%
Developers selling under a New Dwelling Exemption Certificate issued by FIRB will now
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