Lawyers on the Go

15/01/2025

Legislation Update

All Sellers of a property with a sale price of $750,000.00 or more must provide the Buyer with a Foreign Resident Capital Gains Withholding (FRCGW) Clearance Certificate, failing which the Buyer must withhold monies from the sale proceeds and remit them to the Australian Taxation Office.

Rate of withholding from a property sale
The following FRCGW rates apply to the market value of property contracts signed: Up to and including 31 December 2024, a rate of 12.5% applies to property valued at $750,000 or more. On and after 1 January 2025, a rate of 15% applies to the value of all property.

21/12/2021

A quote in an end of the year message from a real estate agency:

“I will honour Christmas in my heart, and try to keep it all the year.
I will live in the Past, the Present, and the Future.”
- Ebenezer Scrooge, ‘A Christmas Carol’.

Love it!

May your holiday season be all wrapped up with cheer and filled with celebration for the New Year and may you keep the spirit of Christmas in your hearts throughout the year! 🎅🎄

21/03/2021

The article relates to a property in California, but an excellent reminder in Queensland of the importance of a Buyer carrying out a pre-settlement inspection prior to settlement and before funds are handed over to ensure the Seller (an owner occupied Seller) has or is in the process of vacating.

When Tracie and Myles Albert purchased a beautiful four bedroom house in Riverside, California they never realized that at the end of escrow the seller would suddenly refuse to give up the keys and leave.

16/03/2021

Never solely rely on account details provided by email. Always confirm and verify verbally from the source (and double check that the contact details in the email have also not been compromised).

When the Pun family decided to move their 102-year-old mother and grandmother into aged care, they could never have imagined they would become the target of scammers.