In the media – National

Buildings Day: GBCA commits to net zero certification
The Green Building Council of Australia will introduce net zero certification for buildings from 2016, it has announced as part of the inaugural Buildings Day at COP 21 in Paris. The GBCA also said it would push for increased minimum energy efficiency standards in the Building Code of Australia (04 December 2015). More...

REIA: Increasing loan size brings housing affordability down
A new report released today shows that overall housing affordability in Australia declined over the September quarter with homes becoming less affordable in five out of the eight states and territories (03 December 2015). More...

Property Council: Removing pension penalty for downsizers better for budget
The Federal Government could save up to $86 million a year from targeted reforms to the age pension means test that remove the penalty for eligible seniors wanting to downsize, according to high-level costings by PwC (02 December 2015). More...

Seniors downsizing needs planning support
The recent report by the National Seniors Productive Ageing Centre on planning impediments to downsizing for older Australians raises important issues, says the Urban Taskforce (01 December 2015). More...

Advisers warned on foreign ownership laws
Advisers who knowingly assist foreign investors to flout Australian laws will face fines under legislation implemented today, Treasurer Scott Morrison warns, following the passage of the Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015 last week (01 December 2015). More...

ASIC remakes 'sunsetting' class orders on real estate companies
ASIC has today remade two class orders that are due to expire ('sunset') in 2016. ASIC Corporations (Real Estate Companies) Instrument 2015/1049 provides relief for vendors, licensed real estate agents and valuers from the licensing and disclosure requirements of the Corporations Act 2001 with respect to real estate companies (25 November 2015). More...

Competition policy reform reaches into real estate
The Treasurer has put a workable model on the table to get the states and territories on board with reforms to address housing affordability, noting that many other reports had also pointed to the way planning and zoning inhibited housing supply and affordability (25 November 2015). More...

In the media – New South Wales

Independent planning decision for Central Park residential building
The independent Planning Assessment Commission will make the final decision on applications to modify the original concept plan for Central Park on Broadway and provide a new residential and retail building (02 December 2015). More...

NSW cuts real estate agents out of rental bonds market
The days of real estate agents sitting on fat cash deposits from tenants for residential rental properties look numbered after the New South Wales state government moved to let renters deposit their bonds directly and online with NSW of Fair Trading (30 November 2015). More...

NSW achieves outstanding result in $10.258 billion TransGrid lease
The NSW Government has announced a successful lease of high-voltage electricity transmission asset TransGrid, unlocking billions of dollars for investment in new and productive infrastructure (25 November 2015). More...

In practice and courts – National

Changes to Australia's Foreign Investment framework
The new legislation and regulations governing foreign investment in Australia came into effect on 1 December 2015. The new rules streamline the regime to focus Government resources on the issues important to Government. The Property Council has prepared a briefing paper on what the changes mean for the property industry.

In practice and courts – Victoria

State Revenue Office: Absentee owner surcharge
From 1 January 2016, a 0.5 per cent absentee owner surcharge on land tax will apply to Victorian land owned by an absentee owner. If you are an absentee owner as at 31 December 2015, you must notify the SRO before 15 January 2016 or you may have to pay a penalty (December 2015).

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