Australia: Property & Real Estate - What's News - 24 February 2016

Last Updated: 2 March 2016
Article by Chris Lovell, Lou Farinotti and Steve Aitchison

Most Read Contributor in Australia, September 2017

In the media – National

PCA: Strong growth in housing finance for owner occupiers
New data on housing finance shows owner-occupiers are taking up the slack in the housing market but also underline the risk of potential changes to negative gearing.  ABS Housing Finance data shows the value of housing finance commitments increased nationally by 13.2 percent over the 12 months to December 2015 (12 February 2016).  More...

ASIC consults on 'sunsetting' property and management class orders
ASIC today released a consultation paper proposing to remake eight class orders that are due to expire ('sunset') between 2016 and 2018. The class orders relate to property, strata and management rights schemes (08 February 2016).  More...

CBD program looks set to be extended to smaller offices
An independent review of the Commercial Building Disclosure program has recommended reducing the size threshold at which offices are obliged to participate, from 2000 square metres down to 1000 sqm.  The report found that there was no evidence to support extending the CBD program to other types of buildings, such as shopping centres, hotels, schools and hospitals (08 February 2016).  More...

GBCA: Expanded CBD program can tackle mid-tier buildings
An independent review of the CBD program, which was developed to drive energy efficiency improvements in the commercial office sector, has found $44 million in benefits have been realised in just four years (05 February 2016).  More...

In the media – New South Wales

Developers deny 'land grab' exploits forced council mergers
Fears among NSW local governments that eagle-eyed property developers are preparing to swoop on a raft of iconic town halls, municipal buildings and other landholdings made redundant through controversial forced council mergers are simply baseless according to the Urban Taskforce (08 February 2016).  More...

Public inquiries into NSW council mergers kick off
Residents, councillors, organisations and council staff spoke across a wide range of issues with almost all speaking in opposition to the creation of a new super council (03 February 2016).  More...

In the media – Queensland

$15 million more accelerated works projects for Mackay region
Premier Annastacia Palaszczuk has announced the fast-tracking of more Government-funded capital works projects in the Mackay region (10 February 2016).  More...

Western Queensland Councils to benefit from planning innovation
Murweh Shire Council will soon have a new planning scheme and other small western shires will reap the benefits, thanks to an innovative partnership with the Department of Infrastructure, Local Government and Planning (05 February 2016).   More...

Queen's Wharf Brisbane PDA development scheme approval to boost jobs
The $3 billion Queen's Wharf Brisbane Integrated Resort Development will deliver a world-class tourism, leisure and entertainment precinct for Queensland. The Queen's Wharf Brisbane Priority Development Area development scheme provides the planning framework for the assessment of the Destination Brisbane Consortium proposal (01 February 2016).  More...

In practice and courts – National

Public Consultation & Final Report for Commercial Buildings Disclosure (CBD) Program Review
Public consultation is being sought until 12 March 2016, on the following proposed changes:  Lowering the threshold for mandatory disclosure of energy efficiency information on buildings from 2,000m2 to 1,000m2 to capture smaller office buildings; and Extending the certification validity period for the energy efficiency office lighting assessment, (tenancy lighting assessment TLA), from one to five years.  More...  More...

ASIC consultation: 'sunsetting' property and management class orders
ASIC proposes remaking the eight class orders by consolidating seven of them into a single instrument to be known as ASIC Corporations (Serviced Apartment and Like Schemes) Instrument 2016/XX.  Consultation Paper 250 Remaking ASIC class orders on property, strata and management rights schemes outlines the class orders to be remade and our rationale for remaking them. Submissions on CP 250 are due by 8 March 2016 (08 February 2016).  More...  More...

Consultation on proposed changes to NGER audit provisions
The Department of the Environment is seeking public comment on further draft amendments to the National Greenhouse and Energy Reporting Regulations 2008. The consultation closes on 19 February 2016. Amendments to the National Greenhouse and Energy Reporting Regulations 2008 will include proposed changes to a number provisions related to greenhouse and energy auditor registration (10 February 2016).  More... More... NGER

In practice and courts – Queensland

Announcements, Draft Policies and Plans released 2015

Title registry Alert: Revised practices under sections 11A and 11B of the Land Title Act 1994 and 288A and 288B of the Land Act 1994 to take effect from 1 March 2016
the Registrar of Titles has revised the existing practice guidelines to align those practices with the obligations for financial institutions and other subscribers who undertake land tilting transactions electronically under the Queensland Participation Rules determined under the Electronic Conveyancing National Law (Queensland).  More...

Under sections 11A(3) and 11B(3) of the Land Title Act 1994 and sections 288A(3) and 288B(3) of the Land Act 1994 a mortgagee or mortgage transferee takes reasonable steps if they comply with practices included in the Land Title Practice Manual for the verification of identification of mortgagors.  More...

Cases – Victoria

Frontlink Pty Ltd v Commissioner of State Revenue [2016] VSC 25
TAXATION – Growth Areas Infrastructure Contribution – GAIC – GAIC levy – Excluded subdivisions of land – Sequential subdivisions – Purpose of subdivision – Planning and Environment Act 1987, Pt 9B, s 201RF – Commissioner of State Revenue v Challenger Property Nominees Pty Ltd [2006] VSC 203; (2006) 63 ATR 65 – R & R Fazzolari Pty Ltd v Parramatta City Council [2009] HCA 12; (2009) 237 CLR 603.  More...

Yuksels Nominees Pty Ltd v Nguyen & Anor (Ruling No.2) [2016] VSC 37
COSTS – Application to remove caveat – Caveat removed – Whether or not indemnity costs should be awarded – costs awarded on the standard basis – Love v Kempton [2010] VSC 254 More...

Colosseum Pty Ltd v Commissioner of State Revenue (Review and Regulation) [2016] VCAT 130
Review and Regulation List – Land Tax – Primary Production exemption – land in an Urban Zone in Greater Melbourne – whether land substantially used in the business of Primary Production – the business of the applicant – whether a beneficiary of the applicant is engaged substantially fulltime in the capacity of the business of Primary Production carried on the land – Discretionary Trust – Beneficiaries other than natural persons – Land Tax Act 2005 – s.67 (both prior to and subsequent to 2011 Amendment).  More...

Melbourne Gourmet Foods Pty Ltd v Lawther (Building and Property) [2016] VCAT 160
Commercial tenancy – written form of lease – some matters to be agreed upon missing from document – conflict between provisions – no indication as to which meaning intended – no prior oral agreement as to matters in doubt - whether purported lease void for uncertainty –words used must evince a definite meaning – impossible to find agreement as to essential matters – purported agreement void – amendment of part of document – whether deficiencies cured - purported renewal of void lease – possession of premises and payment of rent monthly – periodic tenancy – notice to quit by landlord - damages as mesne profits payable by tenant for occupation of land following termination of tenancy.  More...

Scaringi v Wealth Services Pty Ltd (Civil Claims) [2016] VCAT 88
Alleged breach by real estate agent of agreement with owner-client; breach of fixed term tenancy by tenant sub-letting; Residential Tenancies Act 1993 s253 (1); agent served Notice to Vacate without landlord's knowledge; sub-tenant vacated; landlord lost rent until premises re-let; s210; agent failed to inform landlord that landlord entitled to claim compensation from tenant equal to lost rent; agent ordered to compensate landlord for rent lost.  More...

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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