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How to complete the new GST Withholding section in REIQ Contracts?

How to complete the new GST Withholding section in REIQ Contracts?
Aylward Game Solicitors
September 5, 2018

As discussed in our previous Article “Buyer Alert! New GST Withholding Laws for Buyers and Developers of New Residential Property” new GST withholding rules came into force on 1 July 2018. The Real Estate Institution Queensland (REIQ) Contract has been updated to reflect these changes and a new section titled “GST WITHHOLDING OBLIGATIONS” has been…

I Just Bought a Property That Hasn’t Settled. Why Do I Need Property Insurance Right Away?
Aylward Game Solicitors
July 17, 2018

Buying a new property is an exciting time, whether it’s your very first purchase or yet another in a string of purchases. Generally, a property settlement takes 30 days before you can officially take ownership of the new house or apartment, but there is one key point that often spreads confusion; particularly among first time…

What Should Buyers Look Out For In a Property Contract?
Aylward Game Solicitors
July 9, 2018

Buying property is such a big purchase and commitment (one of the biggest most of us are likely to ever make) that the contract is not something you want to take lightly. It’s wise to go through it with a "fine tooth comb" and equally as wise to discuss the finer details with both your…

Buyer Alert! New GST Withholding Laws for Buyers and Developers of New Residential Property
Aylward Game Solicitors
June 27, 2018

In our Previous Article ATO Property Update For GST we introduced the new set of rules affecting Buyers and Developers of new residential premises and new residential subdivisions which will be in place as of 1 July 2018. The new laws will require the General Services Tax (GST) amount payable on the purchase price of new…

First Time Buyer or Seller – How Conveyancing Works
Aylward Game Solicitors
June 8, 2018

If you’re a first time home buyer or seller, likely you’ve heard of a conveyancing solicitor, but may be unfamiliar with the exact role this legal representative plays in the process. As a buyer, you’ve likely dealt with your fair share of real estate agents, been to many open home inspections, finally found a property…

Common Frequently Asked Questions in Property
Aylward Game Solicitors
May 28, 2018

As Brisbane legal property experts in law, we get asked a lot of questions about property and conveyancing. Please see a few of our commonly asked questions with regards to Brisbane Conveyancing listed below: 1. The difference between Joint Tenants and Tenants in Common https://www.aylwardgame.com.au/joint-tenants-tenants-common-difference/ 2. Can you really buy without Banks? https://www.aylwardgame.com.au/can-you-really-buy-without-banks/ 3. What…

Important Information For Foreign Persons Purchasing A Real Estate In Australia Including Fee Information
Aylward Game Solicitors
March 12, 2018

The provisions of the Foreign Acquisitions and Takeovers Act 1975 (Commonwealth) (“Act”) and Foreign Acquisitions and Takeovers Regulation 2015 (Commonwealth) (“Regulation”) apply strict rules to foreign persons purchasing a residential real estate in Australia or investment for property in Australia. A summary of some of the key issues follows. Residential Real Estate Generally Under Australia’s…

Joint Tenants or Tenants in Common – what is the difference
Aylward Game Solicitors
February 12, 2018

Joint Tenants or Tenants in Common is a widely misunderstood concept and is often confusing to buyers when they are deciding on which of these options best suits their needs. Understanding the difference between Joint Tenants and Tenants in Common is extremely important considering the legal implications that can arise with either option. Let's look…

PEXA ONLINE SETTLEMENTS
Aylward Game Solicitors
January 5, 2018

The Conveyancing process is about to get a whole lot simpler. In 2014, the national government implemented a national conveyancing system via Property Exchange Australia or PEXA, an online property exchange system that allows property transactions to go paperless. With PEXA being integrated into most of Australia's major states, the future of online settlements providing…

The Four Stages of a Conveyancing Transaction – Buyers Part 4 Settlement/ Post Settlement
Aylward Game Solicitors
July 6, 2017

Introduction There are essentially four stages that cover the breadth of the conveyancing process: Pre-Contractual; Conditional; Unconditional; and Settlement/Post Settlement . Each of these stages offers its own risks. Settlement/Post Settlement The importance of this stage, which covers the settlement process and the following period, is often overlooked and matters can "slip through the cracks"…

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