Australia: Property & Projects - What's News - 10 March 2015

Last Updated: 18 March 2015
Article by Steve Aitchison, Lisa Cody and Lou Farinotti

Most Read Contributor in Australia, September 2016

In the media – National

Strengthening Australia's foreign investment framework
The Government is seeking views on proposed reforms to strengthen Australia's foreign investment framework, particularly around residential real estate and agriculture. This discussion paper forms the basis of the Government's consultation on reforms to the foreign investment framework (25 February 2015). More...

Foreign Investment in Australia's Residential Sector could be discouraged through excessive fees
The Australian Government's Options Paper on Foreign Investment could send negative signals to offshore investors through excessive fee charges, says the Urban Taskforce (25 February 2015). More...

Proposed foreign investment fees on the high side
The Real Estate Institute of Australia (REIA) has welcomed the Government's resolve to strengthen compliance and enforcement of foreign investment in Australian residential real estate following the release today of its Options Paper (25 February 2015). More...

Government to strengthen Australia's foreign investment framework
The Commonwealth Government will take action to strengthen Australia's foreign investment framework for residential real estate and agriculture. The Options Paper sets out for consultation the reforms that the Government proposes to implement to improve compliance and enforcement of the rules for foreign investment in residential real estate (25 February 2015). More...

Panel to review governance of Australian energy markets
The Australian Government is continuing to drive reforms in the energy sector with a focus on ensuring the energy framework and institutions are relevant to both households and businesses. The Minister for Industry and Science said an expert panel will review national energy market governance arrangements to make sure they reflect the changing market (25 February 2015). More...

APRA releases quarterly ADI property exposures for December 2014
The APRA has released Quarterly Authorised Deposit-taking Institution Property Exposures for the December 2014 quarter. Quarterly ADI Property Exposures contains information on ADIs' commercial property exposures, residential property exposures and new housing loan approvals (24 February 2015). More...

ACCC announces priorities and strives for tougher penalties
The ACCC Chairman outlines the ACCC's role in ensuring privatisation delivers for consumers, improving the functioning of the financial system given the competition focus of the Murray report, ensuring a smooth transition for consumers to NBN services and reviewing water rules to improve outcomes in the Murray-Darling Basin (19 February 2015). More...

In the media – Victoria

New Independent Panel to Address Issues With Short Stay Accommodation
The Minister for Consumer Affairs has announced an independent seven-member expert panel to look at the issue. The panel will look at reforms to better balance residents' rights to quiet enjoyment of their homes with the rights of other owners to lease their properties as short stay accommodation (19 February 2015). More...

Melbourne Metro Rail Project
Work has begun on one of Australia's largest infrastructure projects: two nine-kilometre underground rail tunnels that will transform Melbourne's public transport system. The Melbourne Metro Rail Authority will oversee immediate planning works, complete development of the Reference Design and undertake detailed site investigations (16 February 2015). More...

In the media – New South Wales

Pool owners urged to get compliant in NSW
Following discussions with child safety advocates, councils and industry stakeholders, pool owners will be granted a 12-month extension to make sure they have a valid compliance certificate before the property can be sold or leased (26 February 2015). More...

Consultants cast doubt on benefits of Sydney's WestConnex plan
Sydney's planned WestConnex motorway is unlikely to raise enough in tolls to make it viable and may not remove traffic from local roads, a report commissioned by the City of Sydney Council says (24 February 2015). More...

Blitz on southside real estate agents
The NSW Minister for Fair Trading has revealed several real estate agents and agencies have been fined as part of a real estate compliance blitz in Sydney's south. In the last year, NSW Fair Trading inspected close to 500 real estate agencies across the State, and handed out $120,000 in fines to agents and agencies (22 February 2015). More...

Super tribunal marks successful first year
NSW Attorney General Brad Hazzard has welcomed strong figures from the state's super tribunal showing that more than 70 per cent of matters in 2014 were resolved at, or prior, to the first hearing. 19 February 2015). More...

Local Government Planning Report shows swing to Complying Development
The recently released Local Government Performance Monitoring Report for the last financial year indicates complying development is now 29% of all determinations says the Urban Taskforce (16 February 2015). More...

In the media – Queensland

State leasehold rent payments deferred to help cyclone recovery
Quarterly rent payments due on leased state land will be deferred until 30 June 2015 to help struggling leaseholders recover in areas damaged by ex-Tropical Cyclone Marcia (27 February 2015). More...

Federal Government to consider Goondicum ilmenite mine road project near Monto
The Federal Government is assessing a controversial North Burnett road project in southern Queensland that was the subject of an environmental complaint (26 February 2015). More...

Outback Queensland road projects share in $1m blackspot funding boost
Five projects in western Queensland will share in just over $1 million in new funding under the Federal Government's blackspot road funding program. The Government has announced $33 million all up for 83 projects across Queensland (19 February 2015). More...

Developer unfazed by deadline for billion dollar Sunshine Coast plans
Japanese developer Sekisui House says it will have no problem meeting the Sunshine Coast council's deadline to submit more information on its proposed billion dollar development at Yaroomba (18 February 2015). More...

In Practice and Courts - National

UDIA NBN Special Update: parts of its new NBN Greenfield rollout plan delayed
Critically, the proposal to charge developers a backhaul co-contribution of up to 50 per cent of the first $1000 per lot, and 100 per cent of costs in excess of $1000 per lot, where NBN Co does not have backhaul available, has been delayed to 1 July 2015. Implementation of the $300 end user charge for new connections has also been delayed to 1 July 2015 (27 February 2015). More...

Options Paper on Foreign Investment: Consultation The Government is seeking views on proposed reforms to strengthen Australia's foreign investment framework, particularly around residential real estate and agriculture. Interested parties are invited to comment on the consultation paper. Closing date for submissions: Friday, 20 March 2015 (25 February 2015). More...

Strengthening Australia's Foreign Investment Framework - Consultation Paper
The Government is seeking views on proposed reforms to strengthen Australia's foreign investment framework, particularly around residential real estate and agriculture. This discussion paper forms the basis of the Government's consultation on reforms to the foreign investment framework (25 February 2015). More...

Need for a national approach to retail leasing arrangements
Reporting Date: 05 March 2015
The Senate: 16 February 2015 - Transcript of Senate Economics References Committee hearing into Retail leasing arrangements, Friday, 13 February 2015. More...

CER: 2013-14 National Greenhouse and Energy reporting data
The Clean Energy Regulator has released the 2013-14 National Greenhouse and Energy Reporting (NGER) data publication. Factsheets are available to provide further information on the 2013-14 NGER data publication. The CER has also published the National Greenhouse and Energy Register for 2013-14 (details of each corporation that was registered under the National Greenhouse and Energy Reporting Act 2007 for the 2013-14 reporting year) (27 February 2015).

In Practice and Courts - Queensland

Announcements, Draft Policies and Plans released 2014

WorkCover Queensland: Owner-builders and DIY – are you covered
Homeowners who engage workers to perform maintenance or renovations at their private dwelling (domestic residence) are required to hold an inexpensive Household Workers Insurance Policy. If homeowners are not living at the premises and are engaging workers they will be required to hold an ordinary WorkCover Accident Insurance Policy (25 February 2015).

This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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