Conveyancing News

Limits on Depreciation Claims Passed by the Senate

Legislation proposed in the 2017 federal budget to limit the deductions investors can claim on property deprecation, gained senate approval on the 15th of November. Any ‘plants or equipment’ (things that can easily be removed from a property, such … [Read more...]

How to Protect Yourself Against Real Estate Underquoting

What would it be like to find your dream home, after months of searching and tireless research, the one that’s in the location you want, that’s within budget, and is everything you’re looking for in a home? Now how would it feel to discover that … [Read more...]

Is Anybody Home? Vacant Land Tax Declare Date Looming

Time is running out to declare vacant properties to the State Revenue Office. Residential properties in Melbourne that are unoccupied for more than six months of the year must be declared and may be subject to vacant residential land tax. … [Read more...]

You Can Have Your Smashed Avo and Eat It Too: Government Equity Scheme Opening Doors for First Home Owners

For low or middle income earners, owning your first home could be closer than you think, with a new government scheme set to take on up to 25% of the cost of a property and deposits going as low as just 5%. HomesVic was announced in March of 2017 and … [Read more...]

Whose House is it Anyway? Victorian Legislation Taking Control from Landlords

Proposed changes to the Residential Tenancies Act 1997  were announced in mid-October of 2017, and were met by a wealth of strong reactions from both renters, and landlords. According to the Andrews government, the proposed reforms are, first and … [Read more...]

Conveyancer speaks: buying property in Australia

Whether you are an Australian living abroad or a foreigner wanting to own a piece of that beautiful country, where do you start? You, first of all, need to establish your financial capacity by obtaining a conditional loan approval. You’ve got two … [Read more...]

Foreign Investment Review Board

Australian and New Zealand citizens, Australian permanent residents and also foreigners buying with their married or defectors are exempt from getting a government approval to buy a property in Australia. Many Australian developers obtain 50% blanket … [Read more...]

Property stamp duty and principal place of residency exemption

It could be confusing but in addition to federal and state first own home grants all home buyers in Victoria who intend to leave their homes are also eligible for stamp duty concessions of up to $3,100 for home that are in value of up to $550,000. … [Read more...]

What is a Section 32 Vendors Statement

A Section 32 is just another name for vendor’s statement. Think of it as a perspective for a property. It’s a disclosure by the seller of a property and contains important information about the property such as zoning, the title details and … [Read more...]

Conveyanser’s tips for buying a property at auction

We highly recommend that you have the contract and section 32 reviewed by a fully licensed conveyancer before you bid as an auction contracting under the conditionals. For a small commission you can employ a buyer’s advocate to act on your behalf … [Read more...]

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