Entries by Sue White

Changes to REIQ Contracts

Is 13 a lucky number? The QLS and the Real Estate Institute of Queensland have released the 13th edition of the standard “Contract for Houses and Residential Land”. The contract and the standard “Contract For Residential Lots In A Community Titles Scheme” (now in its 9th edition) has been updated as a result of changes […]

A Rhino on the LAW Executive Council

The Qld Law Group is the Qld representative office of the prestigious Lawyers Associated Worldwide group (LAW). LAW is a global association of more than 100 independent law firms located in more than 50 countries. At the October 2016 annual general meeting held in London the members of LAW elected the Qld Law Group’s own […]

Foreign Buyers Stamp Duty Surcharge

From 1 October 2016 the foreign persons acquiring residential land in Queensland will pay a 3% stamp duty surcharge on entering into any new transactions. What is Residential Land? Residential land is land that is or will be solely or primarily used for residential purposes, and on the land: there is or will be a […]

New Tax On Sale of $2 Million+ Properties

The Issue The Federal Government is concerned that property owners, particularly foreign persons are not paying Capital Gains Tax on the sale of property. The Law On or after 1 July 2016 on the sale of Affected Property, the Buyer will have to withhold 10% of the sale price and pay that to the Australian […]