Another Withholding Regime to Impact the Conveyancing Process

By |2018-09-30T19:25:49+00:00September 30th, 2018|PROPERTY LAW|

From 1 July 2018, purchasers of new residential premises may need to remit part of the purchase price directly to the ATO.  If there is more than one purchaser, and those purchasers are not joint tenants, then each purchaser is required to remit their respective proportion of the withholding amount. In an effort to ensure that all vendors pay GST when they sell new residential [...]

Discretionary trusts – land tax surcharge and duty surcharge

By |2018-09-30T13:50:44+00:00September 30th, 2018|PROPERTY LAW|

Last year, the NSW Government introduced land tax and duty surcharges which can significantly impact the tax benefits of many discretionary trusts which own or are in the process of purchasing land in NSW. The legislation increases the duty and land tax surcharge by 4% and 1.25%, respectively. What this could mean for you Your discretionary trust will be subject to the surcharges if the [...]

Commercial Property Leasing in NSW

By |2018-09-30T12:53:57+00:00September 30th, 2018|COMMERCIAL LAW, PROPERTY LAW|

Overview A commercial property lease is a rental agreement between a landlord (“Lessor”) and tenant ("Lessee”) to use a warehouse, factory, office or a similar facility. Before entering into a commercial property lease (“the Lease”), proper due diligence should be conducted to analyse the terms and conditions of the Lease and to understand the rights and obligations assigned of the parties. Since a commercial property [...]