Category: Property Law
ABKJ’s experienced property lawyers have acted for property purchasers and vendors of a number of the major commercial properties on the Gold Coast and beyond. Whether you are after conveyancing, or advice on a development, sale, or lease, ABKJ Lawyers can help.
We have included below helpful articles discussing common issues in property law.
I recently became aware of a body corporate that was pursuing bylaw contravention action against an owner. It was alleged that the owner had made unauthorised modifications to common property, and further that the owner had placed decorative items, such as pots and other items, on that common property. The area in question was a ground floor courtyard. The body corporate had assumed that, because the area was outside, it wasn’t part of the lot.
Whilst perhaps not the most exciting topic to most people, body corporate committees need to actively review their bylaws from time to time. The bylaws are one of a community title scheme’s most important elements.
On 22 April 2020, the Queensland parliament passed the Covid-19 Emergency Response Bill 2020. The Bill gives the ability to the various Ministers to recommend that regulations be made in response to the COVID-19 pandemic. On 24 April 2020, the Residential Tenancies and Rooming Accommodation (Covid-19 Emergency Response) Regulation 2020 came into effect.
A week and a half ago, in response to the coronavirus crisis which is gripping our economy and society more generally, the Prime Minister announced that the National Cabinet had agreed to a “moratorium on rental evictions”. The Queensland Government has not yet enacted the legislation to make that announcement legally effective at this stage, but we understand that legislation will be introduced shortly. The moratorium It effectively means that a landlord will not be legally able to terminate a lease and evict a tenant due to unpaid rent, for a period of 6 months. As to when that 6-month… Continue Reading
The First Home Loan Deposit Scheme (FHLDS) is designed to help low to middle-income earners enter the property market. Previously, most banks required a minimum deposit of 20% of the property’s value. However, with the Government’s new deposit scheme, first time home buyers are allowed to pay a deposit of as little as 5%. This will help them buy a home sooner. Initially, 10,000 Scheme places were released on 1 January 2020, and a further 10,000 will be available from 1 July 2020. The ability to secure a scheme place will be subject to eligibility criteria and availability. How do… Continue Reading
Effective from 1 July 2018, the Federal Government has amended the GST law with respect to the sale of residential property. If you are selling: 1. New residential premises; or 2. Potential residential land, then at the settlement of your sale, a cheque in the sum of the GST payable on the transaction will need to be given from the sale proceeds and paid by the seller immediately to the Australian Taxation Office. In other words, either 10% of the GST-exclusive purchase price or, if the margin scheme applies to the transaction, then 7% of the purchase price will be… Continue Reading
Launched in 2008, San Francisco-based hospitality marketplace Airbnb is presenting uniquely modern hurdles for regulatory systems ill-prepared for sharing economy services. The website, which allows lot owners to rent out their spaces; whether a whole apartment in Surfers Paradise, a treehouse in the Currumbin Valley, or a bedroom in Robina, has proven to be a popular alternative to traditional models of accommodation. Airbnb boasts over 2 million listings in over 191 countries, with more than 120,000 of those listings located in Australia. The Gold Coast, with its beaches, rainforests, innumerable attractions and recently, the Commonwealth Games, is an Airbnb stronghold…. Continue Reading
The latest Federal budget proposed a number of amendments to the capital gains tax regime. A particular focus of these changes are directed to addressing housing affordability in Australia while also seeking to improve compliance by foreign investors of their tax obligations. These amendments built upon regulations introduced in last year’s budget. The current regulations apply where two requirements are met: Relevant Asset: There must be a transfer of a Relevant Asset. Currently for an asset to be considered a Relevant Asset it must be some form of a real property interest with a market value of $2 million or… Continue Reading
Assignment Of A Lease
Changes Under The Retail Shop Leases Act Are you fully aware of your disclosure obligations under the Retail Shop Leases Act 1994? If you are buying or selling a retail business with a lease, or if you are a landlord involved in such a transaction, it’s important that you are aware of your disclosure responsibilities under the Retail Shop Leases Act 1994 (the Act). There have been recent changes to the Act so even if you are familiar, this article is a good opportunity to refresh your knowledge. As a starting point, it may be helpful to review the meaning… Continue Reading
Retail Shop Lease Changes
Are you a landlord or a tenant under a Retail Shop Lease? There have been some changes to the law that you need to be aware of. After a comprehensive process beginning in 2011, the latest amendments to the Retail Shop Leases Act 1994 (“the Act”) have been passed into law. A short summary of the changes is as follows: Disclosure Obligations Landlords must now give any tenant who exercises its option a lessor disclosure statement within 7 days of a tenant exercising their option. If the landlord fails to comply with this obligation, the tenant will have the right… Continue Reading
