In the media – National

Reimagining government buildings
There's a revolution happening in facilities management: it's driven by technology and it is usurping the old manual, paper-based way of doing things to deliver longer building lifecycles and happier, more productive occupants and achieving high performance buildings (06 January 2016). More...

Another state gains access to online property exchanges
Agents and consumers in four Australian states have now been connected to the country's emerging electronic conveyancing network (06 January 2016). More...

In the media – New South Wales

Sydney's West Leads the way in Land Values Growth
Land values in Sydney's West underwent a boom in the last financial year far exceeding the rest of the greater metropolitan area, according to new figures released by NSW Valuer General. With NSW land values now tipping over $1.34 trillion, this represents a 19.6 per cent growth rate on last year's $1.12 trillion total(07 January 2016). More...

NSW housing approvals still at record highs
The NSW housing sector continues to go from strength to strength, confirmed by today's ABS housing approvals, which are the sixth-consecutive month of record-breaking figures. Official ABS data showed there were nearly 66,500 homes given the green light in the year to November in NSW – the highest result on record (07 January 2016). More...

Stronger councils for NSW
Rate payers are set to benefit from improved infrastructure and services, and stabilised rates following the proposal for 35 new councils in NSW (18 December 2015). More...

Published – articles, papers, reports –National

CGT main residence exemption
Matt Grudnoff
The largest tax concession in Australia is the capital gains tax (CGT) exemption on selling one's main residence (11 January 2016). More...

Unlisted wholesale residential property funds can help boost affordable housing supply
Graeme Newell, Chyi Lin Lee, Valerie Kupke
Australian Housing and Urban Research Institute Briefing Paper
This Research and Policy Bulletin provides details of the key findings and policy implications from the completed AHURI research project (04 January 2016). More...

In practice and courts – National

RICS: International property measurement standards are now mandatory
From 01 January 2016, all RICS professionals undertaking and commissioning property measurements will be required to follow the RICS Property Measurement Professional Statement. More...

In practice and courts – Victoria

State Revenue Office: Absentee owner surcharge
From 1 January 2016, a 0.5 per cent absentee owner surcharge on land tax will apply to Victorian land owned by an absentee owner. If you are an absentee owner as at 31 December 2015, you must notify us before 15 January 2016 or you may have to pay a penalty.

In practice and courts – New South Wales

Announcements, Draft Policies and Plans released 2015

New Underquoting Laws: What it means for agents, buyers and vendors
New underquoting laws apply to the sale of NSW residential property from 1 January 2016. The underquoting reforms are designed to stop real estate agents understating property prices. From 1 January 2016 agents will be required to provide their reasonable evidence-based estimated selling price to the vendor, update their estimate if it is no longer reasonable and to not advertise or make representations to buyers that is less than this estimate. Information sessions about these reforms are already underway. More...

Cases – Victoria

Atlantis Investing Pty Ltd v Pami Investments Pty Ltd (Building and Property) [2015] VCAT 1926
RETAIL TENANCIES: Sections 52 and 54 of the Retail Tenancies Act 2003; Capital costs – defined; Reimbursement of outgoings paid by landlord - whether GST payable by tenant on invoices remitted by the landlord – application of GST Act – Goods and Services Tax Determination GSTD 2000/10; Interest – whether interest on arrears payable. More...

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