The first legislative reforms of the Retirement Villages Act 1999 following the Greiner Review into the retirement village sector came into force on 28 November 2018, in the form of the Retirement Villages Amendment Act 2018 No 77. The amendments provide for a combination of changes to existing sections of the Act, new sections and […]
How will those who use their properties to provide short term rental accommodation, and their neighbours, be affected by looming changes to planning laws and the plans of Newcastle City Council? With the rise in the number of new apartment buildings and other residences in Newcastle; increases in high volume tourism events such as the […]
When purchasing a property through your Self-managed Super Fund (“SMSF”) there are a number of rules and regulations that must be complied with. If your purchase does not comply with the Superannuation Industry (Supervision) Act 1993 (“SIS Act”) and Duties Act 1997 there can be penalties, assets of the SMSF can be frozen, and there […]
There are several fees and charges associated with living in a retirement village. Following is a brief outline of the costs you can expect to encounter when entering a retirement village in New South Wales. The costs involved with entering and living in a retirement village can vary considerably, depending on the type of property, […]
The Supreme Court of NSW has provided valuable and much needed guidance on when, and on what terms, it will permit the rescission of an off-the-plan contract by a developer pursuant to a sunset clause. The recent decision in DGF Property Holdings Pty Ltd v Butros & Ors [2018] sends a strong message to developers […]
Recent developments in the Retirement Village sector is welcomed news for both residents and the industry. There has been a significant amount of media attention in recent months regarding the booming retirement village sector. Unfortunately, not all of this media has been positive. As a result, the State Government has been called upon by a […]
Homeowners aged 65 years or more who sell their home, which is not subject to capital gains tax, provided they have lived in their home for 10 years or more will be able to make a non-concessional contribution of up to $300,000.00 into their superannuation from the proceeds of the sale of their home. Both […]
It has become fairly common these days for parents to assist their children to purchase a home. There are many aspects to be cautious about in this regard:- 1. Parents advancing money to their children should be specific whether the advance is a gift or a loan. A gift is made without expecting anything in […]
The legal liability of a Managing Agent in respect to repairs and maintenance to a property the subject of a Management Agreement, has been recently highlighted in a decision of the New South Wales Court of Appeal. The court at first instance found that by reason of a Management Agreement entered into between a Managing […]
A public options paper recently published by the NSW Government addressing short-term holiday letting proposes a crackdown on accommodation services in NSW such as the popular Airbnb website. Airbnb is a marketplace to list or discover accommodation around the world starting with single rooms and expanding to villas and castles. At present Australian law treats […]
