A1 Conveyancing based in Joondalup & Osborne Park Perth Western Australia
Call Us At: 08 9300 9750

Trade Secrets

FOREIGN RESIDENT CAPITAL GAINS – WITHHOLDING OBLIGATIONS BRIEF FOR REAL ESTATE &/ SETTLEMENT AGENTS- AFFECTS ALL REAL PROPERTY TRANSACTIONS $2 MILLION OR MORE INCLUDING AGGREGATED DEALS

21/4/2016
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Legislation will take effect as of July 1st 2016 requiring that ALL real property transactions over $2m be assessed to determine what (if any) Capital Gains Tax (CGT) liability exists. ​There are many different scenarios which include multiple buyers or sellers and variations to the amount held.In circumstances where there are multiple buyers (ie. A farmer has sold his farm off in separate lots) but the aggregated market value is over $2 million, the Seller will be required to provide a clearance certificate. If not each Buyer...

Electrical Safety Certificates vs Electrical Condition Reports

10/4/2016
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The National Electrical and Communications Association (NECA) have previously published information regarding the issuing of electrical safety certificates.  NECA has received confirmation via email from the Department of Commerce stating the following:“Safety certificates are not to be issued unless it is installation work as described in the Electrical (licensing) regulations 1991 section 52B. Going to a property and ensuring correct operation and that the premises complies to the legislation is not installation work. The form is an official certificate and...

Remain vigilant

8/4/2016
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Reminder to stay vigilantAICWA Members continue to be plagued by scammers looking to have their malicious malware and trojan viruses infect your computer. These emails can seem to originate from credible sources but after careful examination all is not as it appears to be! Things to be on the lookout when receiving an email are: Attached Zip Files Email addresses that do not match the sender’s details. Typically the sender’s email address will have the name of the company/agency Trust...

Fee Deregulation – what it means to you. Beware of hidden extra fees.

2/3/2016
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As of 3rd February 2016, the regulation of Scaled Settlement Agents’ capped fee has ceased. Settlement Agents are now able to charge their worth for their services in executing the transaction. The new fee disclosure rule in found in the rule 6B & unforeseen significant change for scope of work under 6C of the Settlement Agents Code of Conduct & Act.  Removing the ‘Maximum Scale’ and de-regulating fees has allowed Settlement Agents greater flexibility to cater to the differing needs of...

Author, Damien McDonnell

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Damien McDonnell betrothed to my first true love & father to 5 fantastic little persons and one food obsessed beagle.

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