Tuesday, June 7, 2016

Contract for the Sale and Purchase of Land 2016

In brief, things to know about the Contract for the Sale and Purchase of Land 2016
  1. The Commonwealth's foreign resident capital gains withholding payment measure
    The Commonwealth's foreign resident capital gains withholding payment measure, which begins on 1 July 2016
  2. Clearance certificate, variation and purchaser payment notification form
    The new edition incorporates the mechanics of the foreign resident capital gains withholding payment measure,
  3. Swimming pool barriers
    Recent changes to vendor disclosure for the sale of properties with swimming pools.
  4. Land tax
    Minor amendments have been made in the 2016 edition for expected changes to the operation of land tax certificates, likely to begin on 1 July 2016.
  5. Electronic only
    The 2016 edition will be available only in electronic format.
The 2005 and 2014 editions should not be used for contracts that may be exchanged on or after 1 July 2016 where the sale price might reach $2 million.

[more]
lawsociety.com.au/ForSolictors/../FivethingsyouneedtoknowECOS/