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.
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
Elephants on the Ceiling?
Noise issues in high density living The issue of footsteps on the ceiling (and noise generally) in strata titled buildings is a vexing issue for many committees and owners. Given the increased propensity towards high density living in our cities, this is an issue that isn’t going away. Even the sturdiest and newest buildings will probably permit some sound transference between lots in certain circumstances; that is a feature of strata living that prospective residents ignore at their peril. However, the issue can generally be managed through the use of appropriate materials and construction techniques. Hard floors Hard floors are… Continue Reading
“Get Off My Water!”
With over 400 kilometres of constructed canal frontage on the Gold Coast and an ever increasing number of recreational water users, the potential exists for conflict between waterfront property owners and people using the adjacent waterways. Any waterfront property owners or regular water users reading this could probably relate a relevant story. The writer has personally observed an upset waterfront property owner throwing rocks at a kayak fisherman, fishing in the adjacent canal, encouraging him in an enthusiastic fashion to “get off his water”. So who owns the water? Like most things, this is a subjective question. However, the starting… Continue Reading
As the population and the needs of the general community change over time, governments require additional land for property development or the development of infrastructure. This may include construction or widening of roads, installation of sewerage and drainage works, and construction of rail projects amongst other needs. In many circumstances, governments will require a part (or the whole) of a property which is owned by private individuals/companies in order for the infrastructure to be developed for the community. Governments are entitled to acquire land owned by another pursuant to a process commonly known as a compulsory land acquisition. Compensation will… Continue Reading
