RSSCategory: Property Development

Jun

26

The Sustainability Declaration

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New Sustainable Housing Laws: The Sustainability Declaration On the 12th of November 2009, the Queensland Government introduced new legislation requiring the seller of a residential property to complete a two-page, compulsory checklist known as a Sustainability Declaration. The declaration, which comes into effect on the 1st of January 2010, was introduced to better inform buyers about the […]

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Jun

26

Proposed House & Land Contract to a buyer for signature under the Property Agents & Motor Deals Act

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Sending a proposed house & land contract to a buyer for signature under the property agents and motor dealers act Recent amendments to the PAMDA have addressed the technological realities of today by providing for the electronic transmission of contracts and associated documents. The amendments came about as a result of a recent Court of […]

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Jun

26

PAMD Form 27c

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Should this form be presented to the Buyer before or with the Contract? The provision of the PAMD Form 27C Disclosure to a prospective Buyer, and the presentation of Sales Contracts by a Seller or its Agent, are two completely separate obligations required by the Property Agents and Motor Dealer Act 2000 (PAMDA). We have identified that […]

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Jun

26

Property Ownership Structures

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Property can be owned in various structures.  The structure that you choose will depend on your circumstances and the different objectives that you would like to achieve in relation to the ownership of that property such as long term wealth creation; tax effectiveness; stamp duty; asset protection; income distribution, estate planning, etc. The highly skilled […]

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Jun

26

Property Ownership Structures

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Property can be owned in various structures.  The structure that you choose will depend on your circumstances and the different objectives that you would like to achieve in relation to the ownership of that property such as long term wealth creation; tax effectiveness; stamp duty; asset protection; income distribution, estate planning, etc. The highly skilled […]

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Jun

26

Owner-Builder

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OWNER – BUILDER It is not uncommon for building work to be performed on a property by individuals who are not licensed to carry out that building work. Owners of property often renovate or extend their property themselves. In Queensland, owners wanting to undertake building work at their own property must apply for an owner-builder […]

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Jun

26

Listing Price

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THE DEFINITION OF LISTING PRICE AND THE IMPLICATIONS FOR AGENTS Under the Property Agents and Motor Dealer Act 2000 (PAMDA) a Reserve or Listing Price is required to be inserted at Part 4.2 of PAMD Form 22A by an Agent for a Private Treaty Sale for all variations of the private treaty listing type. We have identified […]

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Jun

26

Legal Profession Act Agents Preparing Contracts

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LEGAL PROFESSION ACT – AGENTS PREPARING CONTRACTS Much confusion has arisen recently in relation to the interpretation of Section 24 of the Legal Profession Act and whether or not that particular Section bans Real Estate Agents from completing contracts. Section 24(1) of the Legal Profession Act provides that a person must not engage in legal practice in Queensland unless […]

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Jun

26

Land Tax

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WHAT IS LAND TAX? Land Tax is a tax levied each year calculated on the aggregate unimproved value of freehold land owned by a person within Queensland as at midnight on 30 June each year. Land Tax administration and collection is governed by the provisions of the Land Tax Act 1915. WHO IS REQUIRED TO PAY […]

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Jun

26

Home & First Home Stamp Duty Concessions

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Home Buyers and First Home Buyers are entitled to claim a concession for transfer duty for a dutiable transaction that is for the transfer, or agreement for the transfer of a home or first home, or land on which a first home is to be constructed. Eligibility Requirement  Requirements to live in the property –          […]

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