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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…

What Everyone Ought To Know Before Buying a Display Home
Aylward Game Solicitors
August 7, 2018

Buying a display home as an investment property and leasing it back to the builder for a premium rent for the life of the display village may seem like a great investment. However, a commonly overlooked aspect of this type of transaction is whether the house is covered by the Queensland Building and Construction Commission…

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…

What is Power of Attorney and When Would You Need It ?
Aylward Game Solicitors
June 6, 2018

In simple terms, a power of attorney is a legal document where a person is nominated to act on your behalf (known as the agent) regarding your affairs. The document gives the nominated party the legal capacity to make decisions for you on things like financial matters and other duties. The person given power of…

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…

Do I Need a Conveyancing Solicitor To Buy or Sell Property?
Aylward Game Solicitors
May 22, 2018

Just about all of us have a pretty good understanding of the roles real estate agents play in the process of exchanging properties from seller to buyer. The job of the agent is fairly obvious in many respects because they are working on the front line and very visible, but when it comes to property…

ATO Property Update For GST
Aylward Game Solicitors
April 3, 2018

Some important news for those transacting property this year as 1 July 2018 will mark the introduction of a significant new set of rules that will apply to the purchase of new residential premises, new residential subdivisions and long term leases for a period of 50 years or more. From the 1st of July 2018…