Contracts dated 1 July 16 on wards, will have the new requirements on ALL transactions with market value of $2 million or over. Unless the Seller provides an Australian Taxation Office (ATO) ‘clearance certificate’ for each registered proprietors name (matched to the title) to the buyer 2 business days prior to settlement (-timing subject to REIWA special condition).Then the Buyer must withhold 10% of the Purchase price (more specifically the ‘First element of the cost base’-Capital Gains Tax defined term)...
The Building Commission has received a number of enquiries from home owners andproviders of residential security systems as to whether smoke alarms that are poweredthrough a home security system in dwellings subject to sale, rent or hire are compliant withthe State’s smoke alarm laws. What are the smoke alarm laws? The Building Regulations 2012 (the Regulations) in Western Australia require owners of dwellings to have compliant smoke alarms installed prior to sale, rent or hire. To comply with the Regulations,...
In this series of articles on the Strata Titles Act Reform project, we are bringing you details of the amendments that will impact strata communities across Western Australia. Our previous articles and online videos have already covered other areas of the reforms including: the new forms of strata: community title schemes and leasehold strata improved management clearer and easier ways to resolve disputes terminations of schemes staged strata development. This article will focus on the proposed reforms for improving buyer...
This article in New Zealand seems to indicate a growing trend… So might be worth considering for your lease between tenants and part of your contractual purchase conditions… Q+A: What you need to know about methamphetamine contaminationA unit in a Housing New Zealand complex in Panmure is decontaminated after methamphetamine tested positive.Houses contaminated through the cooking or smoking of methamphetamine is a growing issue in New Zealand.Just one session smoking the Class A drug, also known as P or Ice,...
What happened? Our client purchased an original 1950s style home in SA with the intent of demolishing it and building their dream home. The client exchanged contracts and began to prepare plans for their new home. Shortly after settlement, the client submitted plans to the Council to construct their dream home. The plans were rejected by Council on the basis of a proposed heritage listing, which was applied just prior to settlement. The client was in shock and immediately contacted...
