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Who owns a Development Approval? - Property and Commercial Services Update - August 2010
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1
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18KB
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Who owns a development approval and does the person who obtains a development approval have a proprietary right in the approval, including the ability to prevent the landowner or other parties from using the approval? These questions have significant implications for property owners and developers and have recently been considered by the Planning and Environment Court.
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Queensland Land Tax Changes - Property and Commercial Services Update - August 2010
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1
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17KB
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Following the commencement of the Land Tax Act 2010, some important changes have been made to the way in which land tax is dealt with in Queensland. This update highlights several key changes for landowners, including a new option to extend the payment of land tax and capping of land tax for 2010-11.
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Retail Lease Disputes: full time looming in Sarker and Skiwing - Retail Leasing Update - July 2010
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1
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25KB
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The recent decisions in World Best Holdings Ltd v Sarker [2010] NSWCA 24 and Skiwing Pty Ltd v Trust Company of Australia Limited [2010] NSWADT should bring to an end two of the longest running retail lease disputes of recent times. Borrowing some of the language of the World Cup, the stacked defences run by the tenant Sarker on the one hand and by the landlord Trust Company on the other have proved impossible to break down.
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New Levy on Property Transfers in New South Wales - Property Update - June 2010
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1
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16KB
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A new ad valorem (at value) levy in relation to property transfers in New South Wales will apply from 1 July 2010.
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NSW Home Builders Bonus - New Stamp Duty Concessions - Property Update - June 2010
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2
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21KB
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The Court Information Act 2010 (NSW) (Act) came into force on 26 May 2010. The intention of the Act is to encourage open justice and to overhaul the previous complex and inconsistent system governing the release of court information. This legislation is particularly relevant to commercial enterprises, which now need to be diligent in protecting their confidential and commercially sensitive information in court proceedings.
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A Snapshot of the Proposed PAMDA (Property Agents and Motor Dealers Act 2000) Amendments - Replacing Hoops with Hurdles? - Property and Commercial Services Update - June 2010
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19KB
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The long awaited changes to the Property Agents and Motor Dealers Act 2000 (“PAMDA”) have been introduced to Parliament and, if passed, are due to commence on 1 October 2010.
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Changes to Your Development: When is a Buyer Materially Prejudiced? - Property and Commercial Services Update - May 2010
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1
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17KB
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A recent Queensland Supreme Court decision has shed light on when an ‘off the plan' apartment buyer may be materially prejudiced by changes in a development during construction.
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New Valuations Now Open for Objection - QLD Property and Commercial Services Update - March 2010
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15KB
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Time is now running for owners who wish to object to new land valuations issued by the Queensland government. Owners only have a 45 day objection period from the date of issue to review and object to new valuations if they wish to reduce their land tax and rate liabilities.
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Valuation of Land – Proposed Changes to Affect Valuations and Objection Rights - QLD Property and Commercial Services Update - February 2010
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15KB
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Land owners in a range of local government areas will shortly receive new valuations of their land which will be used for land tax and rates. With only 45 days to object from the issuing of the new valuations, now is the time for land owners to consider their objection rights to ensure they are not paying more land tax and rates than they should be. Land owners also need to be aware of proposed changes to their objection and appeal rights which may affect their ability to seek review of the new valuations.
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NECS - Is Electronic Conveyancing Really Coming? - Regulation and Compliance Update - January 2010
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1
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27KB
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The National Electronic Conveyancing System (NECS) is a joint government and industry initiative to create an efficient and convenient way of completing property transactions.
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New Restrictions on Building Covenants, By-laws and Architectural Codes - Property and Commercial Services Update - December 2009
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1
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20KB
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The Queensland government has enacted its so called ‘Ban the Banners' legislation with the passing of the Building and Other Legislation Amendment Act 2009. The intention of the new provisions (entitled ‘Supporting Sustainable Housing') is to prevent bodies corporate and developers who regulate buildings in estates from stopping owners incorporating sustainable features in their houses.
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Sustainability Declarations required from 1 January 2010 - Property and Commercial Services Update - December 2009
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16KB
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From 1 January 2010, anyone who sells a house, townhouse or unit in Queensland must complete and sign a sustainability declaration before they offer the property for sale. Corresponding amendments to the Property Agents and Motor Dealers Act 2000 require real estate agents to ensure a sustainability declaration is prepared before they market a property. The declaration must be given to potential buyers on request, must be displayed or given to buyers at inspections and must be referred to in advertising (with some exceptions).
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Restrictive Covenants in Shopping Centres: Landlords and Consumers Celebrate ACCC Breakthrough - Property Update - September 2009
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22KB
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Shopping centre owners and consumers around Australia can celebrate the recent breakthrough announced by the Australian Competition and Consumer Commission (ACCC).
Until now, a shopping centre owner with either Coles or Woolworths as an anchor tenant has been prevented from leasing new space in the shopping centre to another supermarket operator in relation to one or more restrictive covenants in the anchor tenant’s lease.
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Further changes to the form of Planning Certificates - Property Update - September 2009
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20KB
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Further changes to the form of Planning Certificates
By Roslyn Forrest of Gadens Lawyers, Sydney
The Environmental Planning & Assessment Act (Act) and Regulations have been changed again regarding the prescribed form that section 149 certificates (Planning Certificates) must take.
Every contract for the sale of land in NSW must attach a Planning Certificate, and these are required to give up to date information (as at the date of the certificate) on certain prescribed issues that may affect the land being sold.
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NSW landholder provisions finally revealed - Property Update - June 2009
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15KB
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The State Revenue Legislation Further Amendment Bill 2009 introduces new landholder duty provisions which are likely to apply from 1 July 2009. Under the current law, stamp duty, at the substantial conveyance rates, is payable on the sale of interests in ‘land-rich’ entities such as companies and trusts when the entity’s land assets comprise a specified proportion of its total assets.
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Queensland Property Update - June 2009
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1
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13KB
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Notice of Establishment of a Scheme required by s212 BCCMA
The Court of Appeal has upheld the decision in Bossichix Pty Ltd v Martinek Holdings Pty Ltd [2009] QCA 154 and clarified the requirements of s 212 of the Body Corporate and Community Management Act 1997. The Court held that a clause which provides for settlement to be “14 days after the date the Seller notifies the Buyer that the Building Format Plan has registered” does not comply with s 212.
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Property Update - March 2009
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17KB
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Changes to the form of s.149 (Planning) Certificates
Along with changes that the NSW Government has made to free up consents under its Housing Code which commenced in February 2009 (to see our article about the February changes to the Housing Code click here), it has changed the requirements for disclosure in planning certificates. The changes relate only to development consents for construction of new houses and for home renovations.
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Property Update - February 2009
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24KB
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Misleading and deceptive conduct in relation to property sales contracts. The use of rebate clauses in sales contracts has been widely debated, as their use can potentially mislead financiers, valuers and the market generally. The recent case of Commonwealth Bank of Australia v George Hilellis & Ors clarifies some of the issues surrounding the use of rebate clauses in sales contracts, and what constitutes misrepresentation in the context of a property sale.
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NSW Mini Budget - Property Duties Update - November 2008
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17KB
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Mortgage Duty. In the 2007 NSW budget, mortgage duty was to be abolished in 3 stages: From 1 September 2007 - on mortgages for owner occupied housing (where the mortgagor is an individual); From 1 July 2008 – on mortgages that are made in connection with investment housing (private dwellings); The balance of mortgage duty was to be abolished from 1 July 2009.
Under last nights mini budget this final piece was unwound – and mortgage duty now stays (including for term and development finance) until 1 July 2012.
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Property Update - October 2008
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15KB
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First Home Owner Boost - Office of State Revenue releases fine print - It was announced on 14 October 2008 that the First Home Owner Grant Scheme would be boosted for a limited time with grants increasing from $7,000 to $14,000 (established homes) and $21,000 (new homes). Eight days later the NSW Office of State Revenue has released the fine print.
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Retail Leasing Update - September 2008
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24KB
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Misrepresentation and unconscionable conduct claims writ large - like a 'Red Roll' to a bull. A recent decision of the Administrative Decisions Tribunal in New South Wales presents new exposure for purchasers of retail shops or retail shopping centres. It will either expand the scope of due diligence or give rise to new categories of disclaimers.
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Property Update - September 2008
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2
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23KB
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Federal Government to consider intervening in national retail lease market - possible national code of conduct for shopping centre leases to be introduced. On 27 August 2008 the Australian Government Productivity Commission released a 322 page report entitled 'The Market for Retail Tenancy Leases in Australia'.
The report should be of interest to retail landlords and particularly managers of shopping centres as the report makes several recommendations for Federal Government intervention in the regulation of retail leasing in Australia.
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Property Update - August 2008
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1
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18KB
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Forfeited Deposits and GST. The ATO has published a Decision Impact Statement in response to a recent High Court case, ending the uncertainty surrounding the GST treatment of forfeited deposits where the contemplated supply is GST-free or input taxed.
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Update Retail Leasing - July 2008
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26KB
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Termination for breach of "essential" terms – who's the Sarker now? On 12 March 2008 the Administrative Decisions Tribunals in New South Wales (Tribunal) handed down a decision likely to become an important point of reference where retail landlords terminate a lease without first issuing a notice under section 129 of the Conveyancing Act 1919 (Section 129 Notice).
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Property (Stamp Duty) Update - June 2008
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28KB
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Qld stamp duty changes: the good and the bad…top duty rate increases to $5.25 per $100
The Treasurer, Andrew Fraser, has handed down the 2008/2009 State Budget which contains various changes to stamp duty for businesses dealing with Queensland property
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Property Update - May 2008
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12KB
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High Court confirms GST payable on forfeited deposits
The High Court has upheld the Commissioner’s appeal against the Full Federal Court decision in the Reliance Carpet case, thus ending over 2 years of uncertainty as to whether GST is payable on forfeited deposits.
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Queensland Property Update May 2008
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15KB
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The role of real estate agents in the preparation of contracts
In our November 2007 property update, we reported on a new law which, from 1 July 2008 would have made it an offence for Queensland real estate agents to add special conditions to contracts. The government has decided to amend the law and the Consumer Credit (Queensland) and Other Acts Amendment Act 2008 received assent on 9 May 2008.
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Department of State and Regional Development Review of Retail Leasing Law in NSW - April 2008
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3
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29KB
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He who snoozes loses - proposed enhancements to retail tenant's rights.
Despite the Productivity Commission recently recommending the unwinding of the overregulation of retail tenancies in New South Wales, The Department of State and Regional Development has issued a "discussion paper" proposing an immense increment in such regulation. If implemented, the proposals will enhance the retail tenant's rights and open the flood-gates to retail tenancy claims wider than ever before
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Property Update - February 2008
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1
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16KB
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Off the plan – no longer off the boil.
With share market volatility and predictions of investors coming back to residential property, it is time to revisit some of the dos and don'ts of selling residential property off the plan
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Property Update - February 2008
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1
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23KB
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GST – Be wary of the ever shrinking margin.
GST is ever-present and (mostly) unavoidable. However, provided that certain conditions are met, GST on the sale of property can be reduced by calculating GST using the method known as the "margin method"
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Retail Lease Decisions Review - January 2008
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45KB
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Oral leases and agreements to lease: the ADT sidelines the Statute of Frauds
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NSW Retail Leasing Update - November 2007
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1
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30KB
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The clock is ticking on 'pre-lease' misrepresentations - article by Robert Riddell and Daniel Fitzpatrick
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Queensland Property Update November 2007
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1
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13KB
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Preparation of contracts by real estate agents and property developers - many people may not have realised that, with the commencement of the Legal Profession Act 2007 on 1 July 2007, it became an offence for a real estate agent to add special conditions to a standard REIQ contract
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Retail Leasing Update - 2 October 2007
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1
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26KB
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Casual Mall Licensing Code - the Australian Competition and Consumer Commission has granted final authorisation for a period of 5 years commencing on 1 January 2008 for the Casual Mall Licensing Code of Practice
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Retail Leasing Update - 5 October 2007
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26KB
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Retail lease decisions review - while the landmark Administrative Decisions Tribunal decision in Armstrong Jones Management Pty Ltd v Saies Bond & Associates Pty Limited continues to dominate the landscape of retail lease litigation, there have been a number of other decisions in the first half of 2007 of interest to retail landlords and managers
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Property Update - August 2007
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15KB
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NSW decision casts doubts on ability of developers to sell management rights - a recent decision in the Supreme Court of New South Wales has cast doubts on the ability of a developer to retain the proceeds of sale of management rights for a scheme
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Steve Healy Elected Tennis NSW President - 26 September 2007
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113KB
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Stephen Healy was last night elected the new president of Tennis New South Wales, after the
incumbent, John Whittaker OAM, stepped down after 16 years in the role.
Healy, a Partner with Gadens Lawyers, has a long history in tennis administration and
held the position of vice-president at Tennis NSW for two years, before progressing to the top job.
Media release issued by Tennis NSW, 26 September 2007
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Property Update - May 2007
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16KB
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Vendors beware!! - reduced deposit clauses no longer mean a vendor is entitled to a full 10% deposit - it has long been the practice of vendors, when accepting a 5% deposit, to include a clause in the sale contract stating that if the purchaser defaults, the vendor is entitled to make demand for the balance of the deposit, to make it up to 10% and forfeit the full 10% deposit - as a result of a recent NSW Court of Appeal decision, this practice can no longer be relied upon by vendors
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Retail Leasing Update - March 2007
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17KB
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Trust Company of Australia Ltd v Skiwing Pty Ltd [2006] – an outgoing sigh of relief for retail landlords - the NSW Court of Appeal gave retail landlords an early Christmas present when it handed down its decision in Trust Company of Australia Ltd v Skiwing Pty Ltd [2006] NSWCA 387 on 21 December 2006
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NSW Retail Leasing Update - December 2006
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1
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47KB
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New leading authority in retail lease disputes - the Armstrong Jones decision is likely to become a leading authority in retail lease disputes which involve allegations against a landlord of
pre-lease misrepresentations, unconscionable conduct and failing to mitigate loss - in this update we review the Armstrong Jones decision and consider its implications for retail landlords
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Joint Property, Planning, Environment and Government Update - December 2006
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1
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14KB
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Architectural plans and drawings to run with the land - in a recent High Court case, it was held that the architect who prepared plans and drawings in order to gain development approval for a site implicitly gave permission to future purchasers of that site to use those plans for the development
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Property Update - November 2006
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13KB
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New smoke alarm warning notice – requirements for contracts for sale of land have changed.
The Conveyancing (Sale of Land) Amendment (Smoke Alarm Notices) Regulation 2006 introduces a new requirement, effective from 1 December 2006, to include a new warning notice in all contracts. The warning notice is now a prescribed document and failure to attach the warning notice will give a purchaser the right to rescind a contract
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NSW Stamp Duty Update
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19KB
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Property purchases: 'win some lose some' in new state taxes amendments. A Bill has been introduced into the NSW State Parliament that proposes to introduce various stamp duty and land tax amendments. The Bill is yet to be debated in the Legislative Assembly
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Property Update - September 2006
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23KB
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Tribunal enforces five year lease on unwilling landlord - recent case provides a warning to landlords of retail premises to be careful when negotiating with tenants who are holding over
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Queensland Succession Planning Update - August 2006
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17KB
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The Changing Face of Queensland Succession Law
Major changes to Queensland’s Succession Law came into effect on 1 April this year - these changes represent part of an ongoing process to modernise and bring uniformity to Australia’s existing succession laws in the different states and territories
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Property Update - July 2006
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18KB
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Should legal agreements contain a company's ACN or ABN? surprisingly, the choice can have quite wide-ranging consequences - registering second mortgages, second mortgages will no longer be registered on title, unless the certificate of title is produced at the Department of Lands by the first mortgagee
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NSW Retail Leasing Update - June 2006
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16KB
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Rectification of retail leases in NSW: sidestepping consent - a court may order that a lease be "rectified", even without the parties’ consent, if the lease fails to properly record the common intention of the parties, is absurd or is obviously wrong. However, when the Administrative Decisions Tribunal (ADT) hears a retail lease dispute, the situation is different. The ADT’s power to rectify the lease is somewhat limited. This update looks at two cases which indicate that the significance of this limit is diminishing
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Property Update - May 2006
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14KB
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Install smoke alarms or lose your buyer: NSW regulations - vendors must now ensure that their property has compliant smoke alarms, or risk losing their sale contract
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Queensland Property Update - March 2006
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15KB
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Put and call options for residential property – are they enforceable?
Purchasers often request sellers to enter put and call options so they are able to nominate an alternative purchaser without attracting additional stamp duty.
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Property Update - February 2006
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21KB
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New grab for revenue revealed: more land tax - watch out for GST traps in a slow market - large deposits and GST
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NSW Retail Leasing Update - February 2006
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16KB
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Retail lease claims: no hesitation to mediation - owners and tenants in NSW are now well adjusted to the reality that a mediation before the Retail Tenancies Unit (RTU) is a prerequisite to any retail tenancy claim in the Administrative Decisions Tribunal. Now, according to a recent decision of the NSW Supreme Court, it seems that the requirement to mediate extends to all retail tenancy disputes, regardless of the venue.
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Queensland Property Update - January 2006
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16KB
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Show me the money - remember Cuba Gooding Junior as the money crazed NFL player in the movie Jerry MaGuire? How excited did he get when closing a deal! - closing a real estate deal can have the same effect especially, as an agent, when there is a large commission coming your way - imagine the shock and disappointment if that commission could not be collected because of a technicality - all the hard work has been done, the deal closed and no commission. Forget Jerry McGuire and think Apocalypse Now!
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