Changes to the GST legislation will come into effect on 1 July 2018 to close loopholes in the current legislation that have resulted in some property developers not fulfilling their GST obligations when selling new residential premises or subdividing potential residential land. Under the current laws, the vendors of new residential dwellings remit GST to […]
Company Title Schemes are characterised by the following features. The ownership of the land and buildings is by a limited liability company. The members of the scheme are the shareholders in the company. The shareholders are given exclusive occupancy rights to their respective units by means of provisions in the company’s Articles of Association. The […]
If you would like to buy any type of property in NSW you will have to sign a contract of sale which includes details about the specific property in addition to all the terms and conditions associated with the purchase. What is exchange of contracts? A property is considered sold at the time of exchanging […]
As a way to reduce the risk of land title fraud and other land title irregularities, the NSW Government has introduced reforms for a new Verification Of Identity (VOI) policy. From 1 August 2016 we have been required under new conveyancing rules set out in section 12E of the Real Property Act 1900) to verify […]
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