End of Paper Era

End of Paper Era

The Queensland Government has announced the end of something our parents and grandparents held dear….paper proof that they owned their home. As of 1st October 2019, a paper title deed will become an item of historic or sentimental value only and will no longer need to...
Changes to REIQ Contracts

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...
Foreign Buyers Stamp Duty Surcharge

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...
New Tax On Sale of $2 Million+ Properties

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...
The Good News!

The Good News!

Concessions and exemptions for home buyers and retirement village residents: 1. Abolition of Mortgage Stamp Duty; 2. An increasing in the threshold for the firm home buyers duty exemption from $320,000.00 to $500,000.00; 3. An increase in the ceiling for the principal...