Westpac (and its subsidiaries St George Bank, Bank of Melbourne and BankSA) announced that they will no longer offer new loans to SMSFs looking to invest in the property market. This takes effect from 31 July 2018.Read More
Are you strapped for cash? Unable to afford your rent? Have you taken on more leasing space than you need?
Subleasing may be just what the doctor ordered. And yes, there are ways to make it work. While subleases occur much less frequently in practice than direct leases from the owner of the freehold, do not underestimate the commercial benefits of subleases..Read More
On 1 July 2018, phoenixing reforms came into play. At Brown Wright Stein Lawyers, we are examining the impact these reforms will have on property developers, vendors and purchasers and the commercial implications in terms of tracking and regulating illegal activities for businesses.Read More
I can understand how this has come about. Underhanded developers swiftly wind up the vendor development company to avoid paying GST on sales involving new residential land or potential residential land subdivisions. It's called phoenixing.Read More
After two well-publicised fires in the CBD in the last 6 months it is timely to consider how a building fire may impact on the rights and obligations of landlords and tenants.Read More
When buying or selling residential property, sometimes you also need to buy more time.
If you're a buyer looking to redevelop a property, you may need time to conduct due diligence or obtain development approval. You don't want to lock yourself in, but you also don't want to let other buyers swoop in and snaffle the property while you're still making inquiries.Read More
It is now well known that where a discretionary trust is to acquire or own residential land in New South Wales it may be necessary to amend the trust deed for the trust to prevent foreign person duty and land tax surcharges being imposed on the trustee.Read More
About to enter into a commercial lease? Daunted by the whole process?
Entering into a commercial lease can be an overwhelming experience for many tenants, with typical lease agreements addressing an array of topics, riddled with complex legal terminology and in some cases, exceeding 50 pages.Read More
How an owner of land may use the land he or she owns, depends upon the local council's zoning
controls. A local council uses zoning controls to influence the way land is zoned within a local shire.