Reimagining government buildings
There's a revolution happening in facilities management:
it's driven by technology and it is usurping the old manual,
paper-based way of doing things to deliver longer building
lifecycles and happier, more productive occupants and achieving
high performance buildings (06 January 2016).
Another state gains access to online property
Agents and consumers in four Australian states have now been
connected to the country's emerging electronic conveyancing
network (06 January 2016).
In the media – New South Wales
Sydney's West Leads the way in Land Values
Land values in Sydney's West underwent a boom in the last
financial year far exceeding the rest of the greater metropolitan
area, according to new figures released by NSW Valuer General. With
NSW land values now tipping over $1.34 trillion, this represents a
19.6 per cent growth rate on last year's $1.12 trillion
total(07 January 2016).
NSW housing approvals still at record
The NSW housing sector continues to go from strength to strength,
confirmed by today's ABS housing approvals, which are the
sixth-consecutive month of record-breaking figures. Official ABS
data showed there were nearly 66,500 homes given the green light in
the year to November in NSW – the highest result on record
(07 January 2016).
Stronger councils for NSW
Rate payers are set to benefit from improved infrastructure and
services, and stabilised rates following the proposal for 35 new
councils in NSW (18 December 2015). More...
Published – articles, papers, reports
CGT main residence exemption
The largest tax concession in Australia is the capital gains tax
(CGT) exemption on selling one's main residence (11 January
Unlisted wholesale residential property funds can help
boost affordable housing supply
Graeme Newell, Chyi Lin Lee, Valerie Kupke
Australian Housing and Urban Research Institute Briefing
This Research and Policy Bulletin provides details of the key
findings and policy implications from the completed AHURI research
project (04 January 2016). More...
In practice and courts – National
RICS: International property measurement standards are
From 01 January 2016, all RICS professionals undertaking and
commissioning property measurements will be required to follow the
RICS Property Measurement Professional Statement.
In practice and courts – Victoria
State Revenue Office: Absentee owner
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 us before 15 January 2016 or you may have to pay a
In practice and courts – New South Wales
Announcements, Draft Policies and Plans released
New Underquoting Laws: What it means for agents, buyers
New underquoting laws apply to the sale of NSW residential
property from 1 January 2016. The underquoting reforms are designed
to stop real estate agents understating property prices. From 1
January 2016 agents will be required to provide their reasonable
evidence-based estimated selling price to the vendor, update their
estimate if it is no longer reasonable and to not advertise or make
representations to buyers that is less than this estimate.
Information sessions about these reforms are already underway.
Cases – Victoria
Atlantis Investing Pty Ltd v Pami Investments Pty
Ltd (Building and Property)  VCAT 1926
RETAIL TENANCIES: Sections 52 and 54 of the Retail Tenancies
Act 2003; Capital costs – defined; Reimbursement of
outgoings paid by landlord - whether GST payable by tenant on
invoices remitted by the landlord – application of GST Act
– Goods and Services Tax Determination GSTD 2000/10; Interest
– whether interest on arrears payable. More...
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