Land Tax in Victoria 2024
Investors: beware of Land Tax changes in 2024 The threshold has changed. A Buyer’s Guide to Understanding Land Tax in Victoria 2024 If you own an existing investment property in Melbourne, you may face a land tax assessment for the first time. As of the 1st of January 2024, the land tax threshold has temporarily […]
A special handwritten thanks from our valued client, Viv
A special handwritten thanks from our valued client, Viv: 📝✨ ‘To Matt and the Conveyancing Excellence team. Thank you so much in your help and persistence with my property purchase. Without your help and expertise, I might still be on the rental cycle. We overcame many obstacles but you got there in the end! You […]
Should I hire a conveyancer or a lawyer for my property settlement?
Should I engage a solicitor or conveyancer? It depends. The world of conveyancing often remains unfamiliar until the moment you’re navigating your first property purchase. While discussions about choosing a conveyancer might not spice up dinner conversations, this service is fundamental for the smooth transfer of property ownership in Melbourne, Victoria. Both Solicitors and Licensed […]
Property Purchasers no longer required to pay vendors’ Land Tax
Land tax requirements have changed, as of the 1st of January 2024 Historically, Purchasers had to pay the vendors’ unpaid land tax for the rest of the calendar year Due to new reforms, this is no longer the case Land tax no longer needs to be adjusted between the vendor and purchaser Land tax requirements […]
Unfair Contract Terms
Unfair Contract Terms in Victorian Property Contracts KEY POINTS Unfair Contract Terms (UCT) reforms have taken effect on 9 November 2023. The reforms will make UCTs illegal, attracting substantial penalties. ASIC has updated its guidance material on UCTs, available on the ASIC website. Types of terms that are or may be unfair Contract terms are […]
What is a Section 32?
What is a Section 32 (Vendor’s Statement’) When you’re in the process of buying a property in Victoria, Australia, you’ll often come across a set of documents that are crucial for making an informed decision. One of these documents is a Section 32 (or ‘Vendor’s Statement’), attached to the Contract of Sale. This is a […]