27Jun
19Feb
E-conveyancing – What does it mean?
The traditional approach to conveyancing translates to, legal processes relevant to the buying of or selling of a property. This style of conveyancing typically involves a significant paper trail with the parties having to attend a physical settlement. E-Conveyancing, refers to the same process, however, the process is completed electronically meaning a reduction in time, cost and paper work, which benefits all parties involved.
PEXA – The future of conveyancing…… now at Olsen Lawyers
PEXA (Property Exchange Australia) is leading the way in...
13Jan
Letter of Wishes
What is a Letter of Wishes?
A letter of wishes (sometimes referred to as a memorandum of wishes) is a document which is prepared in conjunction with your Will. A letter of wishes is commonly used to provide additional information to your executors/guardians which is not contained in your Will. This allows you to draft a Will, with the substantial reasoning behind each gift being explained in the letter of wishes. It is important to note that a letter...
02Dec
How To Care For Your Pet On Your Passing?
Wills for Pets
As Australia has one of the highest rates of pet ownership in the world, it is no wonder that more people are considering how to care for their pets once they have passed away. In the eyes of the law pets are classified as property and as such can be dealt with under a persons Will. What this means is that while you cannot leave a bequest directly to your pet, you can ensure...
18Jul
Additional Foreign Acquirer Duty
Additional Foreign Acquirer Duty - What You Need to Know!
Additional foreign acquirer duty (AFAD) is an additional duty that applies to foreign acquirers purchasing residential property in Queensland. From 1 July 2018, the Queensland Government increased the AFAD amount from 3% to 7%. This means that a foreign person now needs to pay an additional 7% transfer duty to the Government when acquiring residential land in Queensland.Who has to pay AFAD?
AFAD applies to “foreign persons” who include: Foreign individuals – an individual...
21Jun
When Buying Off The Plan Doesn’t Go To Plan
When Buying off the plan doesn’t go to plan – changes to my disclosure statement, can I terminate?
Choosing to buy a property off the plan means you are entering into a contract before the construction has been completed or commenced. Changes in market conditions or other changes during construction can mean things don’t always go as planned.Difference between buying off the plan and a standard contract for sale
Most standard contracts of sale settle in thirty to sixty days. Buying off...
17Aug
Federal Budget 2018: Implications for Vacant Land Owners
Vacant land owners in Australia were the subject of tax incentive cutbacks in this year’s budget. The measures are set to reduce tax incentives for vacant land owners, who will be unable to claim certain expenses, such as interest and maintenance costs associated with the property in income tax returns. This is estimated to save $50 million, discourage “land banking” and increase the supply of land in the property market. What is “Land Banking”? “Land Banking” describes real estate investment involving the...
