From 1 February 2024, a person is not entitled to a principal place of residence exemption in relation to a property, unless all the persons who use and occupy the property as their principal place of residence together own at least a 25% interest in...
On 19 September 2023, and as a result of the NSW Government’s 23/24 Budget, the Treasury and Revenue Legislation Amendment Bill 2023 (NSW) was introduced into Parliament which introduced changes to the Land Tax Management Act 1956 (NSW) which changes the eligibility for the land...
Negative gearing is a prominent term that often arises in the realm of real estate and property investment. This article aims to shed light on what negative gearing is, how it works, its advantages and disadvantages, and its potential impact on investors....
Are there conditions that need to be met to be eligible for Project Intervene? The following infographic explains these conditions....
Project Intervene leverages the authority of the NSW Department of Fair Trading to compel developers/builders to undertake the rectification of significant defects. Through these powers, the regulatory body can issue work orders that mandate the correction of any non-compliant building work. ...
To be eligible for the first Home Buyers Assistance Scheme you must fit the following criteria, as explained in the following Infographic...
The First Home Buyers Scheme has expanded. Starting from 1 July 2023, if you are buying a new or existing home with a value of up to $800,000, you will be fully exempt from paying transfer duty. This means you do not have...
There are lots of reasons you might want to break your lease. Maybe you’ve bought property. Maybe you’re moving in with your partner. Maybe you’ve found a better deal. Maybe you’re moving to a new suburb for work. Whatever your situation, this is what you...
You might get along with your business partner and never had any disputes. However, a partnership is not a separate legal entity and unlike a company, each partner becomes personally liable for any liabilities the partnership incurs....
A reminder for strata managers or strata secretaries who have not yet reported for 2022 to get it done before 30 June 2023. Penalties of up to $5,500 may apply for not completing the first strata report by 30 June 2023. ...