1 July always sees legislative changes, including increases to many government charges related to conveyancing and property transactions. Happy New (financial) Year!
The following are some of the more important changes commencing 1 July 2018. By Lawyers publications in each state have been updated as appropriate.
GST withholding provisions of the Taxation Administration Act commence.
Fee increases apply to all land registry services.
Mandatory electronic lodgement of all standalone transfers and caveats applies.
Additional Foreign Acquirer duty rate increased to 7%.
First Home Owner Grant scheme extended (to 30 June 2019).
Stamp duty no longer charged on transfer of non-residential or non-primary production land: “Qualifying Land”.