In the media – National
Reserve Bank calls for negative gearing, capital gains
tax review
The Reserve Bank says there is a
case for reviewing negative gearing, especially its interaction
with the capital gains tax discount as a tax minimisation tool (16
July 2015).
More...
Revised coastal mapping released
The Department of Environment and Heritage Protection has
advised the Property Council of changes to its coastal hazard
mapping to reflect projected impacts of climate change to 2100.
This includes 0.8 metre sea level rise incorporated into erosion
prone area and storm tide inundation area mapping. The revised
mapping became effective on 8 July (16 July 2015).
More...
Burgeoning retail investment is pushing a similar
uptick in transport and logistics real estate
Part of the increase has come from a number of
international retail brands investing in new operations in
Australia – each with their own requirements for logistics
services. Over the 12 months to the end of May, transport and
logistics-focused tenants signed 42 per cent of the all new
industrial leases around Australia (15 July 2015).
More...
Hockey's call for proper debate on state taxes
welcome
Federal Treasurer Joe Hockey's call for a proper
debate on state taxes and the state governments' over-reliance
on inefficient state taxes including stamp duty is welcome and
completely in line with community attitudes (15 July 2015).
More...
Reforms can help home ownership dream
Improving banking competition, making it easier to save for a
deposit and mortgage broker reforms can help more Australians
achieve their home ownership dream (15 July 2015).
More...
Property taxes could raise $7b, boost economy by $9b:
Grattan
A leading think tank is calling for a new property tax
that would raise around $7 billion a year for state governments and
might also boost economic efficiency (15 July 2015).
More...
Australia a magnet for Chinese capital
Australia attracted over one-quarter of the Chinese
capital that flowed into global real estate in Q1, 2015 –
with Sydney and Melbourne the primary targets, according to a new
report from CBRE (14 July 2015).
More...
ARENA announces new priorities
The Australian Renewable Energy Agency (ARENA) today
announced five priorities for new investment and a new, streamlined
funding programme structure (14 July 2015). More...
Hesitation when it comes to applying for carbon farming
funding
While the Federal Government's Emissions Reduction
Fund (ERS) is associated with much uncertainty and confusion, many
primary producers are nutting out how they might take part, as a
second round of carbon farming contracts come up (13 July
2015).
More...
HIA: Dwelling Construction Lending Declines in May
The total value of lending to owner occupiers and
investors for the new home construction eased back by 3.2 per cent
during the month of May to a level that is still some 11.5 per cent
higher than a year earlier (10 July 2015). More...
Ag White Paper heralds a better business environment for
farmers
The Australian Government has released a series of
measures designed to strengthen the contribution of agriculture to
the national economy by providing a better business environment for
farmers (05 July 2015).
More...
Securing Australia's water supply for the
future
The Australian Government has set up a National Water
Infrastructure Development Fund with $500 million for water
infrastructure, including dams, through the Ag White Paper. $50
million would be allocated to support the planning necessary to
decide on viable projects for investment, and $450 million was
available to construct water infrastructure in partnership with
states and territories (05 July 2015).
More...
In the media – Victoria
Public hearing into new planning Bill
On Friday 10 July, a Victorian parliamentary committee is
holding a public hearing in Melbourne in relation to the
Planning and Environment Amendment (Recognising Objectors) Bill
2015. The Committee is examining how the proposed change will
impact on future planning decisions (09 July 2015).
More... More...
In the media – New South Wales
NSW eyes old apartment redevelopment in new strata
legislation
Old strata apartments could be knocked down for
redevelopment with just 75 per cent of owners' approval under
long-awaited draft legislation released by the NSW government for
comment today. The changes could be among the most controversial to
hit property owners since strata laws were developed (15 July
2015).
More...
Strata law reform bills released
The state government has announced apartment owners who
are forced to sell their homes under proposed laws will be
compensated. The state government has locked in controversial plans
to make it possible for a majority of 75 per cent of owners to sell
their unit blocks for redevelopment, regardless of the wishes of
the minority (15 July 2015).
More...
In the media – Queensland
James Packer v Echo: The Chinese investors bankrolling
Brisbane's casino
The Queensland government is expected to decide in the
next two weeks whether it will award the massive Queen's Wharf
casino development project, the state's biggest ever
development, to James Packer's Crown Resorts and its Chinese
partners, or Echo Entertainment and its Chinese backers (17 July
2015).
More...
Portal for maket-led proposals
The Queensland Government has established a process for
accepting and assessing market-led proposals. These types of
frameworks have been used successfully interstate to harness the
expertise and ingenuity of the private sector (16 July 2015).
More...
Treasurer commits extra $400,000 a year for asbestos
clean up
The Palaszczuk Government has created a new asbestos
repair fund worth $400,000 a year to carry out urgent rectification
works at hazardous properties (16 July 2015).
More...
Govt restores landholder, community rights on
mining
Landholders and communities will regain their right to
object to mining developments under legislation (the State
Development and Public Works Organisation and Other Legislation
Amendment Bill 2015). Introduced to Parliament today (15 July
2015).
More...
Pastoral giant goes cotton pickin' North
Queensland's independent Coordinator-General has
declared Stanbroke's $200 million Three Rivers Irrigation
Project in the Gulf region of North Queensland a coordinated
project. The government is currently finalising amendments to the
Gulf Water Resource Plan and Resource Operations Plan which
contemplates an unallocated water reserve of more than a quarter of
a million megalitres of water in the Flinders River catchment (10
July 2015).
More...
Published – articles, papers, reports – National
ARENA: General Funding Strategy and Investment Plan
2015
The five priorities are: integrating renewables and grids;
renewables for use in industrial processes; off grid areas; fringe
of grid and constrained sections of the grid; large scale solar
photovoltaics (PV).(July 2015). More...
Grattan Institute: Property taxes
A levy of just $2 for every $1000 of unimproved land value
would raise $7 billion a year with an annual charge of $772 on the
median-priced Sydney home, $560 on the median-priced Melbourne
home, and lower average rates in other cities and the regions,
according to this report (14 July 2015). More...
In Practice and Courts – New South Wales
Draft Strata Schemes Management and Strata Schemes
Development Bills
Where a whole strata building is to be sold collectively
to a developer the settlement price will be divided between the lot
owners based on their unit entitlement to ensure the distribution
is equitable. The Land & Environment Court will not make an
order approving a renewal plan unless the price paid for each lot
is at least the compensation value of the lot. The draft is
available on www.fairtrading.nsw.gov.au,
and will be open for feedback until 12 August. Final Bills will be
introduced to Parliament later this year (15 July 2015). More...
Cases - Victoria
Grenville Trading Pty Ltd v Braszell (Building and
Property) [2015] VCAT 985
RETAIL LEASES–Surrender of lease by operation of
law–by re-taking possession of premises, landlord purported
to accept the tenant's alleged abandonment of the
premises–consideration of factors alleged to have constituted
an abandonment of the premises by the tenant–facts found not
to be sufficient to warrant a finding that, prior to re-taking
possession, the tenant had abandoned the premises. Whether in
the circumstances, the landlord complied with its express
obligation under the lease, in respect of a claim for increased
rent due to CPI increases, to give "the same notice that it
would be required to give under section 146(1) Property Law Act
1958 (Vic)"–found that the landlord failed to
comply. Whether, if the landlord had complied with the notice
requirements, the lease ended by resumption of possession by
landlord following alleged failure by tenant to pay
rent–alleged failure by landlord to render rent invoices for
CPI increases allegedly payable from 1 June 2010 that were
compliant with A New Tax System (Goods and Services Tax)
Act 1999–whether that alleged failure entitled tenant to
withhold payment of the whole of the rent invoices–whether,
in any event, the tenant was entitled to suspend paying the whole
of the rent invoices in reliance on the express term of the lease,
on the ground that the premises could not be used or accessed for
the permitted use–found to be not so entitled. Whether
the alleged failure by the tenant to pay rent in accordance with
the lease, the alleged abandonment and the alleged discontinuation
of the business by the tenant, contrary to its obligations under
the lease, amounted to a repudiation of the lease by the
tenant–found no repudiation and, in any event, notice
required to be given by the landlord under the lease was not
given. More...
Cases - Queensland
Grepo & Anor v Jam-Cal Bundaberg Pty Ltd
[2015] QCA 131
LANDLORD AND TENANT – RENT – PROVISIONS AS TO
RENT IN AGREEMENT FOR LEASE OR LEASE – RENT REVIEW CLAUSES
– where the lease provided for rent review after the first
year, either by way of market review or review based on the
consumer price index – where the lessee paid rent at the base
rate for the whole of the three year term – where the lessor
argued that the lessee was required to calculate the rent payable
in accordance with the consumer price index – where the
lessee argued that the obligation to pay any increase was dependent
on a determination being made by the lessors – whether the
terms of the lease required a determination to be made –
whether the trial judge erred in failing to find that the lessee
was in breach of its obligation to pay rent. LANDLORD AND
TENANT – COVENANTS – OTHER COVENANTS – where the
lease prohibited the accumulation of rubbish on the premises
– where the lessors argued that there was photographic
evidence of an unacceptable accumulation of tyres – where
there was no evidence as to when the photographs were taken –
whether the trial judge erred in failing to find that the lessee
was in breach of the lease. LANDLORD AND TENANT –
COVENANTS – NOT TO ASSIGN OR SUBLET – LESSOR'S
CONSENT – where the lease prohibited the lessee from
underletting the premises without the lessors' prior consent
– where the permitted use of the premises was as a wrecking
business – where the lessee rented a granny flat which was
part of the premises to an employee without the lessors'
permission – where the lessee argued that the tenant was a
caretaker and that his occupation of the flat was ancillary to the
permitted use of the premises – whether the trial judge erred
in failing to find that the lessee's underletting of the
premises was in breach of the lease. LANDLORD AND TENANT
– COVENANTS – OTHER COVENANTS – where the lease
required the tenant to keep the premises free and clear of rodents,
termites, cockroaches and vermin – where a pest inspector
found active termites in parts of the premises – where the
lessee had not undertaken any termite treatment during the term of
the lease – where the trial judge construed the obligation
under the lease as an obligation to address any evident termite
problem – whether the trial judge erred in construing the
obligation – whether the trial judge erred in failing to find
that the lessee was in breach of the lease. LANDLORD AND
TENANT – RENEWALS AND OPTIONS – EXERCISE OF OPTION
– RELIEF AGAINST LOSS OF OPTION FOR RENEWAL – where the
lessee gave notice of its intention to exercise an option to renew
– where the lessor did not give notice of the lessee's
breaches under s 128 of the Property Law Act 1974 (Qld)
– where the lessee argued that the protective effect of the
section endured for the entire term of the lease – where the
lessor argued that the section did not apply after the lessee
purported to exercise the option by giving notice – whether
the purported exercise of the option to renew for the purposes of s
128 occurred at the time of the giving of notice, or at the
expiration of the lease – whether s 128 applied to the
lessee's breaches which occurred after the giving of notice but
before the expiration of the term of the lease. LANDLORD AND
TENANT – RENEWALS AND OPTIONS – NATURE OF OPTION
– where the lessee argued that the giving of notice of
intention to exercise the option to renew created an agreement for
a lease, entitling it to seek relief from forfeiture under s 124 of
the Property Law Act 1974 (Qld) – where the lessor
argued that the option to renew was an irrevocable offer with
conditions precedent to its acceptance, namely the giving of notice
and compliance with obligations under the lease – where the
lessee argued that the conditions precedent were not met and there
was no entitlement to a lease, and no entitlement to seek relief
from forfeiture – where there were breaches of covenants up
to and at the date of the lease's expiry – whether there
was an agreement for a lease – whether the lessee could claim
relief from forfeiture under s 124 of the Property Law Act
1974 (Qld). More...
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.
