As with all aspects of our lives during the current COVID-19 pandemic, the property and conveyancing space has had to adapt significantly in recent weeks following the Federal Government’s announcement in late March of a ban on open homes and public auctions. In... Read More
Changes to Land Tax for ACT Residential Properties Substantial changes to the ACT land tax system for residential properties came into effect on 1 July 2018. As the one-year anniversary approaches, we look at how these changes may impact ACT property owners in... Read More
How will this impact me? In the 2018-19 budget, the ACT Government announced: ‘From 1 July 2019, first home buyers with a household income below $160,000 will pay no stamp duty – whether they are buying an established property or a newly built home. At the same time,... Read More
In recent years, the government has reportedly written off $1.6 Billion in lost funds from the practice of ‘Phoenixing.’ Phoenixing is a practice where a new company is created to continue the business of a company that has been deliberately liquidated to avoid paying... Read More
As settlement of your conveyancing transaction draws towards completion you can expect to receive a settlement statement from Tetlow Legal which sets out the balance due at settlement once adjustment for rates, levies, rent, reports and the like have been accounted... Read More
Please find our updated article here. Stamp duty is payable on the majority of real estate transactions in the ACT, but depending on the type of real estate you are purchasing, you may be eligible for a stamp duty concession, bonus or exemption. There is Government... Read More
