Do I need a Foreign Resident Capital Gains Withholding Clearance Certificate (FRCGWCC) when I sell my property?

Are you an Australian resident selling a property? Will the sale price to be more than $750,000?   If so, you will be need to provide a Foreign Resident Capital Gains Withholding Clearance Certificate (FRCGWCC, or ‘clearance certificate’) to purchasers prior to settlement.  What is a clearance certificate?   From 1 July 2017 onwards, legislation requires 12.5% … Read more

What do I need to disclose when I sell my property? 

What is considered too much or too little information, and how do you ensure you provide the right information? There are 5 general items that you need to disclose when you sell your property. Pre-contractual disclosure obligations  It is a seller’s obligation to disclose all relevant information that may be considered a limitation, restriction or … Read more

Selling your property? Disclosure obligations differ across different states

As the world becomes more globalised it is increasingly common for Vendors to sell property across different states and territories.   In Australia, certain attributes of a property must be disclosed by a vendor to the purchaser prior to the sale. Vendor disclosure obligations are unique to each state. As a result of this, it is … Read more

What is a caveat? Do I need one? 

What is a caveat?  Under Section 89 of the Transfer of Land Act 1958, a caveat can prevent the transfer of a land title without the consent of the caveat holder. When a caveat is registered it will appear on a property’s title unless withdrawn by permission of the caveator.  When you purchase a property, you may … Read more

What is a “covenant”? How does it affect my property?

You may have heard this term ‘covenant’ or ‘restrictive covenant’ when looking into property. But what exactly is it? And why is it important for property buyers and sellers?   What is a restrictive covenant?  A restrictive covenant, or more commonly known as just a covenant, is a private agreement or contract between neighbouring landowners. … Read more

What is a GST Withholding Form? Do I need it for my property sale?

If you are selling property, you may be obligated to notify Purchasers to withhold an amount (i.e. GST) from the purchase price on the contract to be paid to the Australian Tax Office (ATO). This can apply to some residential properties and potential residential land. Failure to notify is a strict liability offence that may lead to … Read more

pool spa regulations

How the new regulations on swimming pools and spas may affect you 

Since 01 December 2019, there are new laws requiring all property owners to erect safety barriers for their pool and spa. Here are some important things you need to know:  Victorian Building Authority (VBA) requirements  By 01 November 2020, all pools and spas must be registered with the local council.  Complete the inspection of the … Read more