Latest Property Law Updates in Australia for 2024

TAS: New stamp duty exemption for eligible first home owners

Date: 15 April 2024
Source: Premier of Tasmania
Jurisdiction: Tasmania

Abstract:

The Tasmanian Premier, Jeremy Rockliff, has announced that the government will introduce legislation that would provide stamp duty exemptions for eligible first home buyers purchasing their first home, valued up to $750,000. Currently, eligible first home buyers are entitled to a 50% stamp duty concession on purchases of property valued up to $600,000. Details of the legislative changes are not yet available. It is expected that the legislative changes will be retrospective and will apply from 18 February 2024. It is also expected that the exemption would apply to existing houses, units and apartments, and would be available through to 30 June 2026, after which time the exemption would be reviewed.

The Premier’s press release can be read here.

ACT: Housing and Consumer Affairs Legislation Amendment Bill 2024 (ACT)

Date: 11 April 2024
Source: Australian Capital Territory Legislation Register
Jurisdiction: Australian Capital Territory

Abstract:

The Australian Capital Territory Government has introduced the Housing and Consumer Affairs Legislation Amendment Bill 2024 (ACT) (Bill).

The Bill proposes to principally amend:

• the Residential Tenancies Act 1997 (ACT) (RTA);
• the Unit Titles (Management) Act 2011 (ACT) (UTMA);
• the Land Titles Act 1925 (ACT) (LTA) and Land Titles Regulation 2015 (ACT) (LTR);
• the Fair Trading (Australian Consumer Law) Act 1992 (ACT) (FT (ACL) Act);
• the Agents Act 2003 (ACT) (Agents Act); and
• the Charitable Collections Act 2003 (ACT) (CC Act) and Charitable Collections Regulation 2003 (ACT) (CC Regulations),

with consequential new infringement notice regulations under the Magistrates Court Act 1930 (ACT), amendments to the Magistrates Court (Charitable Collections Infringement Notices) Regulation 2003 (ACT), and minor amendments to the Civil Law (Sale of Residential Property) Act 2003 (ACT).

RTA amendments

Amendments to the RTA include:

• preventing rent increases at intervals of less than 12 months under any circumstances (eg through using short term tenancy agreements and uplifting the rent on each commencement date);

ACT: Review and consultation on current state of off-the-plan contract laws

Date: 10 April 2024
Source: Australian Capital Territory government

The Australian Capital Territory (ACT) government has announced it is reviewing whether the legislative changes introduced in November 2021 to off-the-plan contracts are working effectively.

By the Civil Law (Sale of Residential Property) Amendment Act 2021 (ACT), the Civil Law (Sale of Residential Property) Act 2003 (ACT) was amended to prevent sellers from rescinding an off-the-plan contract of sale under a sunset date or a delay event rescission clause without the consent of the buyer, or an order from the Supreme Court.

The ACT government committed to a review of those changes in 2 years, which it has now commenced.

Community members involved with off-the-plan transactions, including buyers and sellers (previous, current, or prospective), their family and friends, real estate agents, property developers, and lawyers are encouraged to provide feedback.

Feedback can be provided by:

• making a submission addressing questions on the ACT government’s earlier consultation paper;
• completing the ACT government’s survey; or
• providing written comments or submissions by email to civilconsultation@act.gov.au.

Short-Term Rental Accommodation Bill 2024 (WA)

Date: 5 April 2024
Source: Parliament of Western Australia
Jurisdiction: Western Australia

Abstract:

The Short-Term Rental Accommodation Bill 2024 (Bill) was read for the second time in the Legislative Council on 21 March 2024.

The purpose of the Bill will:

• put in place a plan for the registration of short-term rental accommodation (STRA); and
• administer information regarding STRA; and
• make resulting amendments to the Fair Trading Act 2010; and
• affect the operation of specific local laws.

The provisions in the Bill will define “short-term rental accommodation”, identifying the accommodation arrangements that will fall within the legislation’s scope including residential properties let on a short-term basis in which guests are not housed for longer than 3 months in a 12-month period.

Short-term accommodation for tourists including hotels, motels and caravan parks will not be covered by the Bill. The Bill will apply to STRA regardless of the purpose of the proposed use (such as holiday or tourism, medical, business, relocation or other grounds), with the exception of premises with a dedicated purpose of offering emergency or crisis accommodation, applying to hosted and un-hosted STRA arrangements.

ACT: Pre-lodgement check service, new requisition fees and mortgages on Form 026-M accepted until 31 December 2024

Date: 27 March 2024
Source:ACT Land Titles Office

The Australian Capital Territory’s (ACT) Land Titles Office has announced:

• a new pre-lodgement check service;
• the introduction of requisition fees; and
• an extension to the date mortgages on Form 026-M will be accepted.

Pre-lodgement check

Applications can be submitted to the Land Titles Office prior to lodgement for a review which is aimed to:

• check if the application is correct and ready to lodge;
• advice what changes (if any) and application may need before lodgement; and
• avoid extra costs or registration delays.

Fees of $80 for each simple application, $160 for each complex application, and $309 for a unit plan or sublease plan plus $10 per unit over 30 units apply.

A list of simple and complex applications, as well as links to make a pre-lodgement submission, are available on the Land Titles Office’s website.

Requisition fees

For applications lodged from 11 June 2024, requisitions fees may apply if the Land Titles Office has to:

• follow up on errors in an application; or
• check an application again.

Land Tax Assessment Amendment (Residential Construction Exemptions) Bill 2023 (WA) passes both houses of Parliament

Date: 26 March 2024
Source: Parliament of Western Australia

Abstract:

The Land Tax Assessment Amendment (Residential Construction Exemptions) Bill 2023 (Bill) has passed the WA Parliament on 21 March 2024. The amendments will commence on the day the Act receives Royal Assent for Sections 1 and 2 and the day after Royal Assent for the rest of the Act.

As set out in our updates on 25 October 2023 and 1 December 2023 the Bill amends the Land Tax Assessment Act 2022 (WA) temporarily extending the land tax residential construction amendments for owners who have started construction between 1 July 2020 to 30 June 2023.

Read the full text of the Bill and the explanatory memorandum on the Parliament of Western Australia website.

QLD: Mandatory CPD requirements to be imposed for real estate agents

Date: 25 March 2024
Source: Queensland Government

Abstract:

The Queensland Government has proposed a new, compulsory continuing professional development (CPD) scheme to be introduced for all real estate agents and other property agents, such as property managers. The Residential Tenancies and Rooming Accommodation and Other Legislation Amendment Bill 2024 (Qld) which was tabled in state parliament on 21 March 2024, will require all licensees and salespeople to:

• meet their CPD requirements for each year except for the first year they hold their licence; and
• maintain a record of their CPD compliance.

Failure to meet requirements or maintain a compliant record will carry a maximum penalty of 10 penalty units, and may lead to agents being prevented from renewing their licence or registration.

An advisory panel will be established to allow industry and community stakeholders to provide input on what the CPD sessions should contain.

The Real Estate Institute of Queensland (REIQ) currently has CPD requirements for agents to obtain and maintain membership with the Institute, and in a press release published on 22 March 2023, REIQ CEO Antonia Mercorella has said that “…it’s momentous to see the introduction of mandatory CPD…”, however she stressed that it is “…important that there’s flexibility and agility in the required training…” and that the REIQ “…looks forward to shaping the content delivered through the Advisory Panel.”

Government consultation in 2022 indicated that 2 mandatory CPD sessions per year was the most widely supported model by agents, stakeholders, and members of the public. However, this has not been formalised in the Bill and is subject to further input from the advisory panel that will be established. See pages 7-8 and 11-12 of the Explanatory Note to the Bill for more information about this consultation.

VIC — Commercial and Industrial Property Tax Reform Bill 2024 (Vic)

Date: 21 March 2024
Source: Victorian Legislation 
Jurisdiction: Victoria

Abstract:

The Commercial and Industrial Property Tax Reform Bill 2024 (Bill) was read for the second time in the Legislative Assembly on 21 March 2024.

What does the Bill do and what is the commercial and industrial property tax?

The Bill introduces a new commercial and industrial property tax (CIPT) for commercial and industrial properties (CIPs) in Victoria. From 1 July 2024, CIPs will begin to transition to the new CIPT regime.

Under the new CIPT regime, a CIP will become exempt from stamp duty after stamp duty is paid for the CIP one last time, which will be upon the first dutiable transaction of the CIP to occur on or after 1 July 2024.

Once a CIP is in the new CIPT regime:

• no stamp duty will be payable on any dutiable transaction relating to the CIP, provided that the CIP continues to have a qualifying commercial and industrial use; and
• an annual CIPT, equivalent to 1% of the unimproved land value of the CIP, will be imposed and will first become payable 10 years after the last dutiable transaction for which stamp duty was imposed, occurred.

Version 7 of ARNECC Client Authorisation Form published

Date: 20 March 2024
Source: Australian Registrars’ National Electronic Conveyancing Council

Abstract:

Version 7 of the Client Authorisation Form has been published by the Australian Registrars’ National Conveyancing Council (ARNECC) and will apply from 28 March 2024.

See our earlier update on 2 February 2024 on version 7 of ARNECC Model Operating Requirements and Model Participation Rules.

A Client Authorisation signed by a client is needed in many conveyancing transactions permitting legal practitioners and conveyancers (subscribers) representing a client to execute documents such as a land registry instrument, electronically lodge documents with the land registry, and authorize or complete any financial aspects of the transaction on the client’s behalf.

A Client Authorisation is required to be in the prescribed form and completed correctly to operate. Subscribers must retain the Client Authorisation together with any supporting evidence for a period of at least 7 years from the date of lodgment of the relevant electronic land registry document.

A Client Authorisation can be located here

For more information about the Client Authorisation see the ARNECC website.

VIC: Victorian government cracking down on underquoting by real estate agents

Date: 19 March 2024
Source: Premier of Victoria

The Victorian government has provided an update on its efforts to investigate underquoting within the real estate agent industry.

Underquoting is addressed in ss 47A to 47D of the Estate Agents Act 1980 (Vic), and is generally described as an estate agent advertising, or advising a potential purchaser of, a property price that is less than:

• the estate agent’s estimated selling price (if a single figure is estimated) or the lowest estimated selling price (if a range is estimated);
• the vendor’s auction reserve or minimum sale price; or
• an offer price the vendor has already rejected on the basis it was too low.

Underquoting may also be an offence under s 18 of the Australian Consumer Law which prohibits persons from engaging in misleading or deceptive conduct in trade or commerce, and s 30(1)(c) which prohibits persons, in trade or commerce, making false or misleading representations about the price payable for land in connection with the sale (or promotion of any sale) of that land.

Since the taskforce’s creation in late 2022, more than $1.1 million in fines have been issued, and criminal charges have recently been filed against an estate agency for particularly serious alleged misconduct.

SA: Date for replacement Digital Plan Lodgement system extended to May 2024

Date: 19 March 2024
Source: Land Services SA

Per Land Services SA’s announcement last year and our earlier update, South Australia’s current Electronic Plan Lodgement system (EPL) is to be replaced with a new Digital Plan Lodgement module (DPL).

Originally anticipated for release in March 2024, the DPL is now scheduled to release in May 2024. A further update on timing is expected once the actual date is confirmed.

In the lead up to the release of DPL, Land Services SA advises the following changes will be observed within the South Australian Integrated Land Information System (SAILIS):

• a new “DPL Lodgement” type option will be available in the Invoice Search and Transaction Search screens, and the AM019 Product Transaction History report;
• non-active DPL related fields will be visible on the Organisation Details screen;
• DPL logos will be displayed in certain reports; and
• new users and organisations will be created within SAILIS – Land Services SA will contact organisations individually before DPL commences.

Additional information around DPL, as well as answers to frequently asked questions, is available on Land Services SA’s latest announcement and website.

QLD: Queensland government flags support for proposed Help to Buy shared equity scheme

Date: 18 March 2024
Source: Queensland Government

Abstract:

The Queensland Government has announced that it will move quickly to enact legislation to deliver the federal Help to Buy shared equity scheme once the Help to Buy Bill 2023 (Cth) (Bill) is passed by the Federal Government. The Bill, which is currently in its second reading in the Senate, will see the Federal Government provide an equity contribution to eligible homeowners of up to 40% for new homes and 30% for existing homes.

To be eligible, singles must earn no more than $90,000 per year, and couples no more than $120,000 per year. Applicants must not currently own any other land or property anywhere in the world. Applicants are not ineligible if they have previously owned property.

There will be price caps for metropolitan and regional areas in each state and territory, which are yet to be confirmed. However, in the federal Labor Party’s election policy statement, the price caps were proposed to be:

NT: Housing and Related Legislation Amendment Act 2024 (NT)

Date: 18 March 2024
Source: Northern Territory Government - Legislation
Jurisdiction: Northern Territory

Abstract:

The Housing and Related Legislation Amendment Act 2024 (NT) (Amending Act) received royal assent on 14 March 2024, with a commencement date to be the earlier of a date set by notice in the gazette or 12 February 2026.

The Amending Act amends the Housing Act 1982 (NT) (Housing Act) and Housing Regulations 1983 (NT) (Housing Regulations), the Community Housing Providers (National Uniform Legislation) Act 2013 (NT) (Community Housing Providers Act), and the Residential Tenancies Act 1999 (NT) (Residential Tenancies Act).

The outline of the Amending Act’s Explanatory Statement states the intention of the Amending Act is to:

• support the transfer of public housing management to community housing providers;
• promote the growth of a diverse social housing system;
• provide clarity and consistency between social housing operating models; and
• modernise terminology within the Housing Act and Residential Tenancies Act.

Amendments:

Amendments made by the Amending Act include:

QLD: Compensation granted to buyers deprived of a lot due to a fraudulent mortgage confirmed on appeal: (State of Queensland v Morecroft)

Date: 13 March 2024
Court: Queensland Supreme Court of Appeal (QCA)
Judge(s): Morrison, Boddice JJA and Applegarth J
Judgment date: 9 February 2024
Catchwords: Exceptions to Torrens title indefeasibility — Fraud or forgery — Equitable interest and registered interest — Assurance funds, compensation and remedies for deprivation

The originating case and salient facts

The State of Queensland appealed the Queensland Supreme Court’s decision in Issa v Owens [2023] QSC 4, where the State was ordered to pay compensation to the buyers of a property who were denied title to the property due to a combination of a fraudulent mortgage and the mortgagees failing to adequately verify the mortgagor’s identity.

In 2018, the owner’s son fraudulently mortgaged the property to obtain a $1 million loan for himself. He did the same thing with the owner’s other property in Victoria, which is discussed in C & F Nominees Mortgage Securities Ltd v Karbotli and Another (2021) 64 VR 218. Importantly for practitioners, both fraudulent loans and mortgages were facilitated by a practitioner who failed to take reasonable steps in witnessing the mortgagor’s signature.

SA: First stage of Residential Tenancies (Miscellaneous) Amendment Act 2023 (SA) commenced 1 March 2024

Date: 6 March 2024
Source: South Australian Legislation
Jurisdiction: South Australia

Abstract:

The Residential Tenancies (Miscellaneous) Amendment Act 2023 (SA), which amends the Residential Tenancies Act 1995 (SA), the Residential Parks Act 2007 (SA) and the Real Property Act 1886 (SA), was assented to on 7 December 2023 and is set to commence in stages.

The first tranche of amendments commenced on 1 March 2024.

The balance of the amendments will commence on one or more future date(s) to be proclaimed.

First tranche of amendments

The initial amendments taking effect on 1 March 2024 include:

• New assignment and subletting provisions: ss 74, 74A and 74B;
• Restriction on landlords and tenants from agreeing to increase rent within 12 months from the date of the residential tenancy agreement or from the date of the last rent increase: s 55(2b);
• Increases to maximum penalties and expiation penalties, and in some cases introductions of penalties where previously there were none; and
• More minor changes of a tidying or clarificatory nature.

Changes to the maximum and expiation penalties in the Residential Parks Act 2007 (SA) also took effect on 1 March 2024.

VIC: Updated and new revenue rulings clarifying remittance of market interest and guidance on notification defaults

Date: 4 March 2024
Source: State Revenue Office Victoria

Following public consultation, the State Revenue Office Victoria (SRO) has issued:

• an updated revenue ruling TAA-007v5 (Interest and Penalty Tax Ruling); and
• a new revenue ruling TAA-008 (Notification Default Ruling).

The revised Interest and Penalty Tax Ruling:

• has some content around notification defaults removed (as the content has been included in the new Notification Default Ruling);
• clarifies the circumstances under which market interest can be remitted; and
• otherwise continues to explain the operation of the interest and penalty tax provisions in Part 5 of the Taxation Administration Act 1997 (Vic) (TAA).

A “notification default” is defined in s 3(1) of the TAA and includes failures to give certain notices under the Land Tax Act 2005 (Vic) and the Windfall Gains Tax Act 2021 (Vic). The new Notification Default Ruling explains the circumstances which amount to a notification default (with the Interest and Penalty Tax Ruling providing the guidance on interest and penalty tax consequences once a default has occurred).

E-conveyancing: Adoption of Version 7 of the Model Participation Rules and Model Operating Requirements

Date: 1 March 2024
Source: ARNECC

Following our earlier update on 2 February 2024, all jurisdictions (except the Northern Territory) have adopted Version 7 of the Model Participation Rules (Rules) and Model Operating Requirements (Requirements).

Commencement for each jurisdiction

Version 7 of the Rules and the Requirements commence in:

• New South Wales on 28 March 2024.
• Victoria on 28 March 2024.
• Queensland on 29 March 2024.
• South Australia on 28 March 2024.
• Western Australia on 28 March 2024.
• Tasmania on 8 March 2024.
• Australian Capital Territory on 28 March 2024.

Changes to the Rules and the Requirements

Our earlier update details the changes between Version 6 and Version 7 of the Rules and the Requirements.

Clean and marked-up versions of the Rules can be found here and the Requirements can be found here.

Adopted Rules and Requirements for each jurisdiction

The Rules for each jurisdiction can be found here.

The Requirements for each jurisdiction can be found here.

SA: Further mandating of e-conveyancing from 8 April 2024

Date: 1 March 2024
Source: Office of the Registrar-General | Land Services SA

In South Australia, from 8 April 2024, there is a widened mandate for dealings which must be lodged via an ELNO.

The Registrar-General has notified lodging parties that the below list of additional dealings which be required to be lodged via an ELNO from 8 April 2024.

• Application to Register Death (Subsidiary Interest) (AD2)
• Death of Lessee Determining Lease (ADD)
• Agreement (AG)
• Heritage Agreement (AH)
• Retirement Village (AR)
• Bankruptcy (BA)
• Covenant (C)
• Change of Name (CN)
• Change of Name (Subsidiary Interest) (CN2)
• Order of Court (CO2) (note: the mandate only applies to CO2 dealings lodged in relation to section 8 of the Enforcement of Judgments Act 1991 (SA))
• Cancellation of Retirement Village (CR)
• Discharge Misc Advance/Charge/Order of Court (DA) (note: the mandate only applies to DA dealings lodged in relation to section 8 of the Enforcement of Judgments Act 1991 (SA))
• Discharge of Covenant (DC)
• Discharge of Encumbrance (DE) (note: the existing e-conveyancing mandate is extended to include “by virtue of death of annuitant”)
• Extension of Lease (EL)
• Extension of Mortgage (EM)
• Extension of Underlease (EU)

TAS: Excluded Registry Instruments and other Documents following new Recorder’s Directions

Date: 26 February 2024
Source: Land Tasmania

Following the issue of new Recorder’s Directions (Directions) taking effect 7 March 2024, the Tasmanian Recorder of Titles has released a list of excluded Registry Instruments and other Documents (Excluded Instruments).

The new Directions apply all Registry Instruments and other Documents which are dated on or after 7 March 2024 and which are lodged on or after 7 March 2024, other than the Excluded Instruments.

Copies of the Directions and Excluded Instruments are available on Land Tasmania’s website.

See our earlier update and Land Tasmania’s Office Circulars No. 3/2024, No. 4/2024 and No. 7/2024 for further reading.

SA: Registrar-General’s 2023 industry survey report on eConveyancing released

Date: 26 February 2023
Source: Land Services SA

South Australia’s Registrar-General has issued the final 2023 industry survey report on eConveyancing (Report). A copy of the Report is available from the Department for Trade and Investment’s website.

The Report follows the Registrar-General’s survey conducted in August and September 2023 which sought feedback on:

• the current state of eConveyancing and the support that is provided;
• if participant’s expectations of eConveyancing were being met;
• the possible mandating of more documents for eConveyancing; and
• suggestions for future improvements.

The Office of the Registrar-General advised that the Report’s results and additional information were shared with Land Services SA, the Australian Institute of Conveyancers SA Division, the Law Society of South Australia, Revenue SA, Property Exchange Australia Ltd, and Sympli Australia Pty Ltd, and the Office will work closely with these organisations on further industry improvements.

Further information on the Report and other materials is available in Land Services SA’s customer information bulletin 389.

TAS: New Recorder’s Directions and resource materials

Date: 16 February 2024
Source: Land Tasmania

Abstract:

The Recorder of Titles has issued new binding Directions (Directions) under s 160A of the Land Titles Act 1980 (Tas) (Act). The Directions take effect from 7 March 2024.

Directions may be issued to specify the requirements and procedures to be followed for, or in connection with, the preparation and lodgement for registration of applications, dealings, instruments, and other documents for the purposes of the Act.

Land Tasmania has provided resources on the impacts of the new Directions to practitioners and the general public in the form of various webpages accessible at Land Tasmania, as well as an overview of the conveyancing reforms.

Copies of the Directions are available on Land Tasmania’s website, and further information is available in Land Tasmania’s Office Circulars No. 3/2024 and No. 4/2024.

New foreign investment laws aimed at increasing housing supply

Date: 14 February 2024
Source: Treasury

Abstract

On 7 February 2024, the Albanese Government introduced new legislation to revise the foreign investment framework, aiming to increase Australia's housing supply. The legislation entails tripling the foreign investment fees for purchasing established homes and doubling the vacancy fees for foreign-owned dwellings bought since 9 May 2017. It also offers reduced fees for foreign investments in Build to Rent projects, facilitating more housing availability. This initiative is part of a broader strategy to improve housing affordability including significant increases in Commonwealth Rent Assistance and investment in social and new housing. The changes are designed to encourage investment in new developments over existing properties, boosting housing stock and economic growth.

For more, see the media release here.

WA: Landgate online Requisition Portal now live and additional residual documents made available

Date: 5 February 2024
Source: Landgate

Abstract:

Following Landgate’s earlier announcement and our 19 January 2024 update, Western Australia’s secure online Requisition Portal is now live, and additional residual documents are available for electronic lodgement.

Requisition Portal

Landgate’s secure online Requisition Portal is now available.

A Requisition Portal User Guide has been published, along with an updated Stopped Documents land transactions procedure guide.

Frequently asked questions and further information is available on the Landgate website.

Additional residual documents

More than 20 additional residual documents have been made available for electronic lodgement.

A full list of residual documents, including those most recently made available, is available through Landgate.

While electronic lodgement of residual documents is not currently mandatory, Landgate highly encourages it.

Version 7 of ARNECC Model Operating Requirements and Model Participation Rules Released

Date: 2 February 2024
Source: Australian Registrars’ National Electronic Conveyancing Council

Abstract:

Version 7 of the Australian Registrars’ National Electronic Conveyancing Council (ARNECC) Model Participation Rules (Rules) and Model Operating Requirements (Requirements) have been published.

Clean, as well as tracked change, versions of the Rules can be found here and the Requirements can be found here.

To use an Electronic Lodgment Network Operator (ELNO) to lodge documents on an Electronic Lodgment Network (ELN), Subscribers (persons who have signed a participation agreement with an ELNO to us an ELN) are required to comply with the relevant participation rules that apply to that jurisdiction. ELNOs are required to comply with the relevant operating requirements that apply to that jurisdiction.

ARNECC issues model versions of the Rules and Requirements, which each State and Territory adopts to apply to their jurisdiction. It is anticipated each State and Territory operating an ELN will adopt the Rules and Requirements in due course.

The majority of changes focus on expanding and incorporating Interoperability into the Rules and Requirements.

CPI figures released for the December 2023 quarter could impact leases

Date: 1 February 2024
Source: Australian Bureau of Statistics

Abstract:

The Consumer Price Index (CPI) figures have been released for the December 2023 quarter (for the 1 October 2023 to 31 December 2023 period) by the Australian Bureau of Statistics.

Landlords and tenants should check their leases to see if a rent review CPI adjustment is required using the CPI number for the December 2023 quarter.

For more information about the CPI figures, see the Australian Bureau of Statistics website.

For further details in relation to rent reviews, see our guidance on Rent review for non-retail leases, Rent review for retail leases, Leases — Checklist for conducting a rent review in accordance with the Consumer Price Index (CPI), and Leases — Acting for landlord — Checklist before entering into and finalising a commercial or retail lease.

VIC: Registrar’s requirements for paper conveyancing transactions (version 9) commenced 25 January 2024

Date: 25 January 2024
Source: Land Use Victoria

The Registrar of Titles has determined that Version 9 of the Registrar’s requirements for paper conveyancing transactions (Registrar’s Requirements) comes into effect on 25 January 2024.

The new version of the Registrar’s Requirements is available here. A marked-up version is also available here.

We summarised the expected changes in our earlier update. The changes that are now being implemented by Version 9 of the Registrar’s Requirements are as follows.

• Existing SPEAR subscribers must use SPEAR from the effective date for the new Registrar’s Requirements: From 4 March 2024, all existing SPEAR subscribers must lodge any instrument via SPEAR where the instrument is capable of being lodged using SPEAR.
• SPEAR mandate for all lodging parties: From 29 April 2024, all instruments capable of being lodged using SPEAR, must be lodged using SPEAR.

SA: New Digital Plan Lodgement system to replace Electronic Plan Lodgement module

Date: 14 December 2023
Source: Land Services SA

Abstract:

Land Services SA is set to implement a new Digital Plan Lodgement (DPL) system to replace the current Electronic Plan Lodgement (EPL) module as part of the South Australian Integrated Land Information System (SAILIS).

The new DPL module will improve functions as follows:

• One login for SAILIS and DPL users;
• Plan Number allocation at plan creation;
• Existing SAILIS data to be populated including easements on titles;
• Plan Header alteration flexibility;
• Community and Strata Plan Amendments and Strata Conversions support; and
• Mass upload (CSV file) of Certificate of Title references.

The functional change will mean the issue of a required plan number before lodgement of all draft plans in the existing EPL system during the switch to the new DPL system. Only plans with a draft status created on or after 1 January 2024 will be allocated plan numbers.

To prepare for the new DPL system release scheduled for March 2024 Land Services SA will update its website in early 2024 which will provide more detail on the DPL module together with Frequently Asked Questions, videos and information on training sessions.

NSW — Strata Schemes Management Amendment Regulation 2024 (NSW)

Date: 23 January 2024
Source: New South Wales Government
Jurisdiction: New South Wales

Abstract:

On 19 January 2024 the Strata Schemes Management Amendment Regulation 2024 (NSW) (Amendment), which amends the Strata Schemes Management Regulation 2016 (NSW) (Regulations), and affects the operation of the Strata Schemes Management Act 2015 (NSW) (Act), commenced.

The Amendment:

• prescribes that Part 11 of the Act does not apply to building work for build-to-rent properties which are:
  • carried out under development consent granted under Chapter 3, Part 4 of the State Environmental Planning Policy (Housing) 2021; and
  • entitled to a reduction in the assessable value of the land under section 9E of the Land Tax Management Act 1956 (NSW);
• defers the increase in the amount required to be secured for a building bond under section 207 of the Act to 1 July 2024; and
• prescribes additional circumstances for the cancellation of building bonds.

Click here to view the full text of the Strata Schemes Management Amendment Regulation 2024 (NSW).

WA: Landgate Requisition Portal coming and move towards electronic lodgement

Date: 19 January 2024
Source: Landgate

Abstract:

Landgate has announced its secure online Requisition Portal will be available early February 2024. The portal is intended to provide lodging parties a secure method for responding to and uploading evidence to satisfy a requisition.

This follows changes introduced by the Transfer of Land Amendment Act 2022 (WA) which enabled Landgate to electronically serve statutory notices by email, in replacement of some previous methods of service such as facsimile.

Landgate had previously communicated it was building the online Requisition Portal in response to stakeholder concerns around the security of relying on email alone to respond to requisitions.

The announcement separately reiterates Western Australia’s continuing development of its electronic lodgement capabilities and encourages the use of electronic lodgement for those residual documents currently capable of online preparation. For more details on residual documents for electronic conveyancing, see our earlier updates on 26 October 2022 and 27 July 2023.

For further information relating to the Requisition Portal or electronic lodgement capabilities, see the Landgate website.

Titles Queensland updates Land Title Practice Manual

Date: 5 January 2024
Source: Titles Queensland

The Titles Queensland has updated the Land Title Practice Manual has been updated, effective from 20 December 2023.

The updated version of the LTPM is available here.

A tracked version of the LTPM is also available here.

Statutory Declarations Regulations 2023 (Cth) give effect to new Commonwealth statutory declaration regime from 1 January 2024

Date: 4 January 2024
Source: Federal Register of Legislation

Abstract:

Following the passing of the Statutory Declarations Amendment Act 2023 (Cth) (Amendment Act) allowing Commonwealth statutory declarations to be made and witnessed electronically from 1 January 2024 (including through certain online digital verification platforms), the Governor-General has made the Statutory Declarations Regulations 2023 (Cth) (Regulations).

The Regulations repeal and replace the Statutory Declarations Regulations 2018 (Cth) from 1 January 2024 and give effect to the amendments made to the Commonwealth statutory declaration regime by the Amendment Act, including by prescribing:

• who can witness Commonwealth statutory declarations; and
• the technical requirements for making Commonwealth statutory declarations under the new digital statutory declaration provisions.

Prescribed witnesses

The Regulations do not change who can witness a Commonwealth statutory declaration.

As with the previous regulations, the Regulations provide that a Commonwealth statutory declaration can be witnessed by any of the following “prescribed persons” in person or by video link:

• a person enrolled as a legal practitioner on the roll of a state or territory Supreme Court or the High Court of Australia;
• a person currently licensed or registered to practise law in Australia;
• a person currently licensed or registered to practise another occupation in Australia which is listed in Pt 1, Sch 1 to the Regulations; or
• a person who is listed in Pt 2, Sch 1 to the Regulations.

Property Law Act 2023 (QLD)

Date: 19 December 2023
Source: Queensland Parliament
Jurisdiction: Queensland

The Property Law Act 2023 (Qld) (PLA23) was assented to on 2 November 2023 and will commence on a date to be proclaimed.

As set out in our earlier update, the PLA23 replaces the Property Law Act 1974 (Qld) and modernises property law in Queensland by adopting many of the recommendations in the 2018 Final Report: Property Law Act 1974. It is anticipated that the PLA23 will commence in 2024.

While the PLA23 has not yet commenced, there are some significant changes to property law which practitioners should be aware of and should be considering now (including some that will operate retrospectively). Some of these changes include:

• Covenants imposed on the original landlord under a lease which do and do not ‘touch and concern’ the land will be enforceable by and against a new landlord where the original landlord has transferred the reversionary interest in the premises to the new landlord (ie, usually, sold the premises). This change will impact current buyers of property subject to a lease with a term that continues after the PLA23 commences. Read Div 3 Pt 9 of the PLA23.

SA: New Digital Plan Lodgement system to replace Electronic Plan Lodgement module

Date: 14 December 2023
Source: Land Services SA

Abstract:

Land Services SA is set to implement a new Digital Plan Lodgement (DPL) system to replace the current Electronic Plan Lodgement (EPL) module as part of the South Australian Integrated Land Information System (SAILIS).

The new DPL module will improve functions as follows:

• One login for SAILIS and DPL users;
• Plan Number allocation at plan creation;
• Existing SAILIS data to be populated including easements on titles;
• Plan Header alteration flexibility;
• Community and Strata Plan Amendments and Strata Conversions support; and
• Mass upload (CSV file) of Certificate of Title references.

The functional change will mean the issue of a required plan number before lodgement of all draft plans in the existing EPL system during the switch to the new DPL system. Only plans with a draft status created on or after 1 January 2024 will be allocated plan numbers.

To prepare for the new DPL system release scheduled for March 2024 Land Services SA will update its website in early 2024 which will provide more detail on the DPL module together with Frequently Asked Questions, videos and information on training sessions.

State Taxation Acts and Other Acts Amendment Act 2023 receives royal assent

Date: 12 December 2023
Source: Victorian Parliament
Jurisdiction: Victoria

Abstract:

The State Taxation Acts and Other Acts Amendment Act 2023 (Vic) (Act) received royal assent on 12 December 2023.

The Act amends the Duties Act 2000, the First Home Owner Grant and Home Buyer Schemes Act 2000, the Land Tax Act 2005, the Local Government Act 1989, the Property Law Act 1958, the Sale of Land Act 1962, the Treasury Corporation of Victoria Act 1992, the Valuation of Land Act 1960 and the Windfall Gains Tax Act 2021.

A summary of the changes made by the Act are set out in our earlier updates on 6 October 2023 and on 4 December 2023.

The Act, as passed, is available for download from the Victorian Parliament website.

What are the amendments?

Our earlier updates on 6 October 2023 and on 4 December 2023 summarised the amendments proposed by the Act.

When do the amendments commence?

Higher fees for foreign investment in housing

Date: 11 December 2023
Source: Treasury

The Treasurer has announced the following proposed changes to the fees payable on foreign investment applications and actions involving land and land entities:

• tripling the fees payable when a foreign person purchases an established residential dwelling;
• doubling vacancy fees for all foreign-owned dwellings purchased since 9 May 2017;
• strengthening the enforcement regime administered by the Australian Taxation Office;
• applying the commercial foreign investment fees for investment applications and actions for Build to Rent projects from 14 December 2023 onwards.

Legislation will be required to implement the changes and is expected early in 2024.

SA — E-conveyancing mandate to be extended from 8 April 2024

Date: 8 December 2023
Source: Office of the Registrar-General | Land Services SA

In South Australia, from 8 April 2024, a large number of additional dealings will be mandated for electronic lodgement via an ELNO (ie, PEXA or Sympli).

The Registrar-General has notified lodging parties that the below list of additional dealings which be required to be lodged via an ELNO from 8 April 2024. The Registrar-General’s notice is available here.

• Application to Register Death (Subsidiary Interest) (AD2)
• Death of Lessee Determining Lease (ADD)
• Agreement (AG)
• Heritage Agreement (AH)
• Retirement Village (AR)
• Bankruptcy (BA)
• Covenant (C)
• Change of Name (CN)
• Change of Name (Subsidiary Interest) (CN2)
• Order of Court (CO2) (note: the mandate only applies to CO2 dealings lodged in relation to section 8 of the Enforcement of Judgments Act 1991 (SA))
• Cancellation of Retirement Village (CR)
• Discharge Misc Advance/Charge/Order of Court (DA) (note: the mandate only applies to DA dealings lodged in relation to section 8 of the Enforcement of Judgments Act 1991 (SA))
• Discharge of Covenant (DC)
• Discharge of Encumbrance (DE) (note: the existing e-conveyancing mandate is extended to include “by virtue of death of annuitant”)

Digital ID Bill 2023 (Cth)

Date: 6 December 2023
Jurisdiction: Commonwealth

Abstract:

On 30 November, the Digital ID Bill 2023 (Cth) (the Bill) was introduced in the Senate. The aim of the Bill is to strengthen existing Digital ID schemes by increasing governance, privacy, and consumer protections as well as to provide legislative backing to the expansion of the schemes.

The Bill strengthens privacy requirements for accredited providers under the Trusted Digital Identity Framework (the government’s existing voluntary digital ID accreditation scheme). These include prohibitions on the use of single identifiers, the disclosure of information for marketing, and restrictions on the collection, use and disclosure of biometrics and other personal information. Penalties for non-compliance are included in the Bill. This aims to ensure individuals using digital ID services from accredited providers can be sure their information and privacy is protected.

The Bill also provides for expansion of the Australian Government Digital ID System (AGDIS). Phases 1 and 2 of the expansion will see the reciprocal use of digital IDs and attribute providers in Commonwealth and state and territory services. Eventually the government’s digital ID services and attribute providers will expand to the private sector under Phase 3.

Residential Tenancies Legislation Amendment Bill 2023 (NT)

Date: 6 December 2023
Source: Parliament of the Northern Territory

Abstract:

The Residential Tenancies Legislation Amendment Bill 2023 (Bill) has passed the parliament on 29 November 2023.

The Bill will amend the Residential Tenancies Act 1999 (NT) and the Residential Tenancies Regulations 2000 (NT) and proposes a number of residential tenancy law reforms directly affecting tenants including:

• Rent bidding will be banned;
• Termination notice periods by landlords of both fixed and periodic tenancies will be regulated to 60 days;
• Protecting tenants privacy by limiting the required information tenants may have to provide in relation to rental applications; and
• Lease break fees will be banned which will limit compensation for early termination of fixed term agreements to 4 weeks rent in which less than 50% of the agreed rental period has elapsed, or 2 weeks rent where more than 50% of the rental period has elapsed.

The Bill is awaiting assent.

The Bill and explanatory Statement are available for download from the Northern Territory Government.

State Taxation Acts and Other Acts Amendment Bill 2023 (Vic) amended and has now passed both houses

Date: 4 December 2023
Source: Victorian Legislation
Jurisdiction: Victoria

Abstract:

Following our earlier update, the State Taxation Acts and Other Acts Amendment Bill 2023 (Bill) was amended and has now passed both the Legislative Assembly and the Legislative Council. The Bill now awaits assent.

The more significant changes for property owners and for property transactions include:

• the rate for the vacant residential land tax (VRLT) will be:

• 1% for land which was not subject to the VRLT in the preceding tax year;
• 2% if the land subject to the VRLT in the first preceding tax year but not the second preceding tax year; or
• 3% for land which was subject to the VRLT for the precedent two tax years;

• the prohibition on the apportionment of land tax between a vendor and purchaser under a contract of sale of land will not apply to any contract of sale entered into before 1 January 2024; and

the prohibition on the apportionment of land tax between a vendor and purchaser under a contract of sale of land will not apply to a contract of sale entered into before 1 January 2024.

Report released – Inquiry into the rental and housing affordability crisis in Victoria

Date: 4 December 2023
Source: Legislative Council Legal and Social Issues Committee | Report Tabled – Inquiry into the rental and housing affordability crisis in Victoria

The Committee inquired into the challenges facing Victorian renters and factors causing the rental and housing affordability crisis in Victoria. The Committee tabled its report, which can be read in full on its website.

Residential Tenancies Amendment Bill 2023 (WA)

Date: 4 December 2023
Source: Parliament of Western Australia

Abstract:

The Residential Tenancies Amendment Bill 2023 (Bill) was introduced into the WA Parliament on 29 November 2023.

The Bill will amend the Residential Tenancies Act 1987 (WA) which proposes a number of residential tenancy law reforms directly affecting tenants including:

• Rental increases being limited to once every 12 months;
• Tenants being able to keep pets with landlords placing conditions on the keeping of the pets;
• Tenants being able to make fixed ‘minor modifications’ such as installing flyscreens, a water-saving shower head or a vegetable garden, to their rental property;
• The release of bond process will be easier with both landlords and tenants being able to separately start the application process; and
• Landlords, real estate agents and property managers will be prohibited from engaging in rent bidding.

The Bill has yet to be passed by the WA Parliament and subsequently assented to by the Governor.

The Bill and explanatory Memorandum are available for download from the Parliament of Western Australia.

Land Tax Assessment Amendment (Residential Construction Exemptions) Bill 2023 (WA)

Date: 1 December 2023
Source: Parliament of Western Australia

Abstract:

The Land Tax Assessment Amendment (Residential Construction Exemptions) Bill 2023 (Bill) was introduced into the WA Parliament on 30 November 2023.

The Bill will amend the Land Tax Assessment Act 2002 which will temporarily extend the land tax residential construction amendments for owners who have started construction between 1 July 2020 to 30 June 2023.

The Bill has yet to be passed by the WA Parliament and subsequently assented to by the Governor.

The Bill and explanatory Memorandum are available for download from the Parliament of Western Australia.

For further guidance see our update on 25 October 2023.

VIC — Review of the Domestic Building Contracts Act 1995 (Vic)

Date: 29 November 2023
Source: Engage Victoria

The Victorian Government is undertaking a review of the Domestic Building Contracts Act 1995 (Vic) (DBC Act) as part of its reforms to the construction industry.

Purpose of the review

The review will consider Parts 1–4 and Part 6 of the DBC Act. The objectives of the review are:

• To evaluate the DBC Act and assess its effectiveness in protecting consumers and meeting industry needs in light of dynamic market conditions and modern construction practices.
• To provide recommendations for amendments to the DBC Act to ensure it is fit for purpose and appropriately protects consumers while supporting an efficient and competitive domestic building marketplace and industry.
• To ensure that the DBC Act maintains a strong consumer protection focus and that existing protections are not reduced.

Strata Legislation Amendment Bill 2023 (NSW)

Date: 28 November 2023
Source: Parliament of NSW and NSW legislation

The Strata Legislation Amendment Bill 2023 (Bill) has passed the parliament on 22 November 2023.

The Bill will amend the Strata Schemes Development Act 2015 (NSW) and Strata Schemes Management Act 2015 (NSW) which will implement recommendations made in the report tabled in Parliament on 29 November 2021, providing people in strata living instant benfits.

The Bill is awaiting assent.

The Bill and explanatory Notes are available for download from the Parliament of NSW.

Titles Queensland – Updated Directions for the preparation of plans

Date: 20 November 2023
Source: Titles Queensland

The Registrar of Titles has updated the Directions for the preparation of plans made under section 10 of the Land Title Act 1994 (Qld). The Directions outline the standards and specifications for all of the types of plans acceptable to Titles Queensland for registration.

Report by WA Government – support to continue compulsory CPD training for real estate and settlement industries

Date: 20 November 2023
Source: Government of Western Australia

Abstract:

The Department of Mines, Industry Regulation and Safety (Consumer Protection) has released a report revealing continued support for mandatory CPD education for the WA real estate and settlement industries.

The key findings of the report include:

• Stakeholders regarded compulsory CPD education as beneficial;
• 56% of licensees in the property industry would continue to voluntarily complete CPD education if the mandatory CPD program was removed;
• The real estate sector supported CPD points to be reduced from 10 to 5 in a calendar year;
• The settlement industry supported no changes to be made regarding CPD points for the settlement sector;
• If compulsory CPD education continued, registered training providers supported a 12 month transitional period before the new CPD program commenced; and

SA: Change to Government banking system

Date: 20 November 2023
Source: Land Services SA

Abstract:

From 11 December 2023, the Office of the Registrar-General’s account details will change as a result of the SA Government converting their banking transactions system to the ANZ Bank.

Details of the new ANZ account will be noted in the November SAILIS invoice to be issued in early December.

People should update their bank details to reflect the new ANZ account, in the Accounts Payable vendor record before paying the November invoice through their SAILIS account, including their LSG account reference number to avoid delays .This also applies to all Electronic Funds Transfer (EFT) payments.

For more information, see the Land Services SA website.

QLD – Changes to First Home Owner Grant to help first home buyers

Date: 20 November 2023
Source: Queensland Government and Queensland Revenue Office

Abstract:

The Queensland Government has announced changes to the First Home Owner Grant Scheme by doubling the grant to $30,000 for eligible first home buyers to help with the cost of living.

Changes to the First Home Owner Grant will apply to qualified transactions between 20 November 2023 and 30 June 2025.

It is expected that eligible first home buyers will be able to apply for the grant increase from January 2024.

To be eligible for the First Home Owner Grant, first home buyers must purchase or build a new home for less than $750,000 (inclusive of land and any variations in the contract).

Electronic signing, remote witnessing and digital verification of Commonwealth statutory declarations from 1 January 2024

Date: 17 November 2023
Source: Parliament of Australia

The Statutory Declarations Amendment Act 2023 (Cth), allowing Commonwealth statutory declarations to be made and witnessed electronically, has received Royal Assent. The amendments will commence on 1 January 2024.

In addition to allowing for electronic signing and remote witnessing, the amendments introduce a new way of executing Commonwealth statutory declarations through a digital verification process conducted on a prescribed online platform.

Statutory Declarations Amendment Bill passes both houses of Parliament

Date: 10 November 2023
Source: Parliament of Australia

The Statutory Declarations Amendment Bill 2023 (Cth), allowing Commonwealth statutory declarations to be made and witnessed electronically, has passed both houses of Parliament. The amendments will commence on the later of 1 January 2024 and the day after Royal Assent.

In addition to allowing for electronic signing and remote witnessing, the amendments introduce a new way of executing Commonwealth statutory declarations through a digital verification process conducted on a prescribed online platform.

Read the full text of the Bill and the explanatory memorandum on the Parliament of Australia website.

NSW: have your say on the NSW Government’s analysis of the non-urban water metering plan before 26 November 2023

Date: 9 November 2023
Source: NSW Government

Abstract:

The public is being invited to have their say on the NSW Government’s evaluation of the non-urban water metering regulations to assess sustainability and management of water use. The consultation period closes on 26 November 2023.

Water users are being asked to provide ways to improve the water metering launch and how water use is measured, along with how to eliminate compliance hurdles in relation to the regulations introduced 5 years ago.

The public has until Sunday 26 November 2023 to submit their feedback.

They can have their say by completing an online survey.

Click here to complete the online survey.

For further information see the NSW Government website.

WA: Multiple titles in Residual documents now available and contact details updates regarding lodging parties, caveators and paper form templates

Date: 9 November 2023
Source: Landgate

Abstract:

Multiple titles in Residual documents are now able to be shown in the one document (depending on other document factors) for electronic conveyancing.

Some of the multiple titles in Residual documents include:

• *Applications to remove caveats;
• *Charges;
• *Leases; and
• *Subleases

The Residual Documents Table lists the documents available.

Lodging parties are now able to provide their email contact details in PEXA for lodgement correspondence in case Landgate, the Registrar of Titles or the Commissioner of Titles need to contact them.

For more information on Managing Subscriber Details, see the PEXA website.

Caveators are now able to provide their email and postal address details in Australia for service of notices when lodging a caveat digitally through PEXA, so the Registrar of Titles or the Commissioner of Titles can contact them to advise if an application to remove their caveat has been lodged for registration.

Rigid time periods for responding to removal notices exist and failing to respond may result in the removal of the caveat.

SA: Panel Forms changes and latest PEXA System Release

Date: 6 November 2023
Source: Land Services SA

Abstract:

Panel Forms changes have been made and the latest PEXA System Release 19 has been applied by Land Services SA allowing electronic lodgement of new dealings.

Panel Forms in paper form have been evaluated and changes made in line with electronic images. Changes to the following Panel Forms include:

• Application to Note Change/Correction of Name;
• Power of Sale;
• Withdrawal of Caveat; and
• Withdrawal of Lien.

Additionally, new Panel Forms have been introduced as follows:

• An A3.1 panel form regarding Applications without a specified existing form in relation to Instruments where reference to a related dealing number is to be made for rescinding, withdrawing, cancelling, discharging, extending or varying;
• An A3.2 panel form without a specified existing form in relation to an Affected Party; and
• An A3 panel form without a specified existing form regarding situations where Instruments and an Affected Party panels are not required.

NSW: Key details for 2024 land tax year preparation for property purchasers

Date: 3 November 2023
Source: Revenue NSW

Abstract:

As a consequence of recent legislative changes, Revenue NSW has provided key details for 2024 land tax year preparation for property purchasers as follows:

Notice of assessments to be issued sooner

From 3 January 2024, the 2024 land tax notice of assessments will commence being issued.

Where property settlements are due in the first week of January, purchasers are able to request an early issue of the notice of assessment by logging into their MyServiceNSW account, entering the property settlement date and providing their email details to receive the 2024 notice of assessment sooner.

Clearance certificates

From 11 December 2023, purchasers are able to request a 2024 clearance certificate through the Revenue NSW Client Service Providers (CSPs).

As clearance certificates take up to 10 business days to issue from the date of request, purchasers should request a clearance certificate once settlement has been scheduled.

Property Law Bill 2023 (QLD)

Date: 26 October 2023
Source: Queensland Parliament
Jurisdiction: Queensland

Abstract:

The Property Law Bill 2023 (Bill) has passed the parliament on 25 October 2023.

The Bill will replace the Property Law Act 1974 (QLD) with new, modernised property legislation, drafted broadly in accordance with the recommendations in the 2018 Final Report: Property Law Act 1974. The Bill also implements a statutory seller disclosure scheme for sales of freehold land in Queensland.

The Bill is awaiting assent.

The Bill and Explanatory Note are available for download from the Queensland Parliament website.

CPI figures released for the September 2023 quarter could impact leases

Date: 26 October 2023
Source: Australian Bureau of Statistics

Abstract:

The Consumer Price Index (CPI) figures have been released for the September 2023 quarter (for the 1 July 2023 to 30 September 2023 period) by the Australian Bureau of Statistics.

Landlords and tenants should check their leases to see if a rent review CPI adjustment is required using the CPI number for the September 2023 quarter.

For more information about the CPI figures, see the Australian Bureau of Statistics website.

For further details in relation to rent reviews, see our guidance on Rent review for non-retail leases, Rent review for retail leases, Leases – Checklist for conducting a rent review in accordance with the Consumer Price Index (CPI) , and Leases – Acting for landlord – Checklist before entering into and finalising a commercial or retail lease.

NSW: Dutiable dealings changes to commence on 28 October 2023

Date: 25 October 2023
Source: NSW Land Registry Services

Abstract:

From 28 October 2023 it will become necessary for Revenue NSW to assess the duty on a number of dealings lodged with NSW Land Registry Services (NSW LRS).

Electronic versions of the Transfer Creating a Profit a’ Prendre and Transfer Creating a Forestry Right have been enhanced to allow assessment within the electronic workspace.

For further information on how to complete the updated electronic dealings, see the NSW LRS website.

WA: Land tax exemptions to be extended for homeowners building new homes

Date: 25 October 2023
Source: WA Government and RevenueWA

Abstract:

The WA Government has announced changes in the form of a temporary extension to the 2 year land tax exemptions offered to homeowners when building a new home or refurbishing their principal place of residence.

Homeowners who commenced constructing their new home between 1 July 2020 and 30 June 2023 will have a longer timeframe to complete the construction and will not be liable to pay land tax.

Eligible homeowners not being provided with an exemption for another home may now receive an exemption for:

• the first 3 years that their home is being built; and
• an added 4th year under exceptional conditions including when a builder goes into liquidation.

Additionally, eligible homeowners being provided with an exemption for a second home:

• don’t need to repay 2 years land tax if construction of their home hasn’t been completed; and
• could receive an exemption for an added 3rd year under exceptional situations beyond their control, such as labour and material delays.

For further information see the WA Government website and the RevenueWA Land Tax Fact Sheet – Private Residences.

NSW: Concession change for unoccupied land that an owner intends to be their principal place of residence

Date: 19 October 2023
Source: Revenue NSW

Abstract:

From 1 July 2023 a concession change permits an extension to the period for which unoccupied land may be treated as an owner’s principal place of residence.

An owner of unoccupied land is able to claim the concession on the land as their principal place of residence for up to 6 years (from 4 land tax years previously) once building works are finished and meet the following criteria:

• the owner intends to build on or is building on the unoccupied land intending its use as their principal place of residence;
• if the building works started have not generated any income from the use and occupation of the land; and
• the intended use and occupation of the land is not illegal.

The Chief Commissioner may extend the concession as follows:

• where there has been a delay in building works completion;
• there are extraordinary circumstances beyond the owner’s control that have caused the delay; and
• the owner was unable to reasonably avoid the delay.

Read the Commissioner’s Practice Note here.

NHFIC releases report on the trends and insights of the Home Guarantee Scheme

Date: 19 October 2023
Source: Housing Australia

Abstract:

The NHFIC has released a report revealing the Australian Government’s expanded Home Guarantee Scheme has assisted 41,700 Australians in buying a new home in 2022-2023.

The key points of the report include:

• Over 32,500 guarantees were issued in 2022-2023, up around 39% compared to 2021-2022;
• 10,860 guarantees were issued to regional home buyers;
• There was been an increase in younger home buyers under the age of 30 taking up 1 in 2 places under the Home Guarantee Scheme’s First Home Buyer Guarantee and Regional First Home Buyer Guarantee; and
• Demand for the Scheme has been strongest in QLD, around 25%, with 20% in NSW, while WA has also shown robust demand

Read the full report here.

For guidance on the Home Guarantee Scheme, see our Latest Legal Update on 3 May 2023.

State Taxation Acts and Other Acts Amendment Bill 2023 (Victoria)

Date: 6 October 2023
Source: Victorian Legislatio
Jurisdiction: Victoria

Abstract:

The State Taxation Acts and Other Acts Amendment Bill 2023 (Bill) was introduced to the Victorian Legislative Assembly on 4 October 2023. The Bill, if passed, will have significant implications for property transactions across Victoria.

The Bill proposes to amend the Duties Act 2000, the First Home Owner Grant and Home Buyer Schemes Act 2000, the Land Tax Act 2005, the Local Government Act 1989, the Property Law Act 1958, the Sale of Land Act 1962, the Treasury Corporation of Victoria Act 1992, the Valuation of Land Act 1960 and the Windfall Gains Tax Act 2021.

The Bill amends the Property Law Act 1958 in relation to the apportionment of taxes under a contract of sale of land. The Bill also amends the Sale of Land Act 1962 to -

• prohibit the apportionment of land tax between a vendor and purchaser under a contract of sale of land;
• prohibit the apportionment of an existing windfall gains tax liability between a vendor and purchaser under a contract of sale of land or option to enter into a contract of sale of land.

WA: have your say on ARNECCs draft version 7.2 of the Model Operating Requirements before 31 October 2023

Date: 5 October 2023
Source: Landgate

Abstract:

The public is being invited to have their say on the Australian Registrars National Electronic Conveyancing Council (ARNECC)s draft version 7.2 of the Model Operating Requirements. The consultation period closes on 31 October 2023.

The Model Operating Requirements are a major factor for establishing the interoperability structure. ARNECC has updated the Model Operating Requirements to assist interoperability by working with the interoperability program and consulting with the industry.

For ARNECCs earlier consultation for Model Operating Requirements draft version 7.1, see Feedback – ARNECC.

The public has until Tuesday 31 October 2023 to submit their feedback.

Feedback may be submitted by email to chair@arnecc.gov.au.

For further information see the Landgate website.

For more information generally on e-conveyancing, see the E-conveyancing Subtopic.

SA: New Designated Survey Areas to commence on 7 December 2023, latest version of Cadastral Survey Guidelines and Office of the Surveyor-General website upgrade

Date: 5 October 2023
Source: Land Services SA

Abstract:

On 7 December 2023 ten new Designated Survey Areas (DSAs) will commence operating. For more details about the new DSAs see the Rack Plan 1509 on the SAILIS portal. The DSA layer will become available through the South Australian Property and Planning Atlas (SAPPA) in a few weeks.

The latest version 6.0 of the Cadastral Survey Guidelines is now available. Amendments include:

• an attachment declaration of the ten new DSAs 566-575; and
• a revised definition of ‘no material differences’

The Office of the Surveyor-General website has been upgraded allowing users to update their bookmarks along with shortcuts to the upgraded site.

For further information see the Land Services SA website.

NSW: New sustainable building obligations commence for residential and non-residential development

Date: 4 October 2023
Source: NSW Government

Abstract:

On 1 October 2023, new Building Sustainability Index (BASIX) obligations commenced for residential and non-residential development offering improved measures to attain the required new energy standards.

BASIX standards were established in 2004 for improved energy and thermal efficiency in residential and non-residential buildings. The Sustainable Building State Environment Planning Policy (SEPP) allows developers and homeowners greater building standards options.

Among the new changes:

• increasing thermal performance standards to a 7 star rating in accordance with the Nationwide House Energy Rating Scheme (NatHERS);
• raising emission reduction obligations by 7 to 11% based on the dwelling type, size and location; and
• compulsory building material emissions assessment and reporting on new residential and non-residential buildings (see the Department of Planning and Environment Embodied Emissions Technical Note for more information).

The new changes will result in reduced energy bills for residential and non-residential development.

Contracts for new homes prior to 1 October 2023 will be exempt from the new BASIX requirements until 30 June 2024. For more details see the Department of Planning and Environment transitional arrangements for generating a BASIX certificate fact sheet.

WA – E-conveyancing hub set to launch making expanded Electronic Transfer documents available from 9 October 2023

Date: 28 September 2023
Source: Landgate

Abstract:

The first stage of the e-conveyancing network is set to launch on 9 October 2023. Landgate along with Revenue WA and the Electronic Lodgment Network Operators (ELNOs) have developed the e-conveyancing hub.

From 9 October 2023 expanded Transfer documents can be lodged electronically through the e-conveyancing network.

The Transfer documents that are eligible to be lodged digitally will include Certificates of Title in which there is already a registered ownership in a executor, administrator or trustee in bankruptcy capacity.

Stage two of the e-conveyancing network will further expand the eligibility of Transfer documents for electronic lodgment.

For the latest eligible duty transactions list for e-conveyancing, see Revenue WA’s Lodge documents using eConveyancing details page.

For further information relating to the impending changes, see the Landgate website.

NSW 2023-2024 State Budget – tax increases, duty and exemptions changes

Date: 26 September 2023
Source: NSW Government and Revenue NSW

Abstract:

The New South Wales 2023-24 State Budget has announced tax increases, duty and exemptions changes that are set to be implemented once the Treasury and Revenue Legislation Amendment Bill 2023 has passed.

Most of the measures announced in the State Budget will commence on 1 February 2024.

The introduction of the Treasury and Revenue Legislation Amendment Bill 2023, will amend the following legislation:

• Duties Act 1997;
• Land Tax Management Act 1956; and
• Taxation Administration Act 1996.

Duties Act 1997 changes include:

• Stamp duty - Landholder duty adjustment on the acquisition of a ‘significant interest’ in a private unit trust, reducing the threshold from 50% to 20% which is in line with Victoria
• Stamp duty – Fixed or nominal duty fee increases such as
  • duty on transfers in accordance with contracts for the sale and purchase of land in NSW where the minimum duty amount is to increase from $10 to $20;
  • some nominal duties (including property vesting in an apparent purchaser, change of trustee, and property passing to beneficiaries) are to increase from $50 to $100;

Victorian Housing Statement flags significant reforms to rental laws

Date: 20 September 2023
Source: Victoria Government website | Victoria’s Housing Statement

Abstract:

Premier Daniel Andrews released Victoria’s Housing Statement 2024-2034, flagging significant reforms to rental laws in Victoria.

The reforms will require legislative change. The reforms are expected to:

• Restrict rent increases between successive fixed-term rental agreements. This proposed reform would disincentivise landlords from evicting tenants at the end of their first fixed-term lease in order re-list the property at a higher rent. Where a property is re-listed after a landlord has evicted a previous tenant on their first fixed-term lease, the property must be re-listed at the same rent for at least 12 months.
• Ban all types of rental bidding. This ban will prevent renters from making unsolicited offers above the advertised rental. It would be an offence to accept a rental bid and would introduce new or higher penalties for agents and landlords who breach the rental bidding bans.
• Establish a new entity called ‘Rental Dispute Resolution Victoria’ which would be empowered to resolve tenancy disputes over rent, damages, repairs and bonds, taking those matters out of the purview of VCAT.

NSW — Revenue, Fines and Other Legislation Amendment Act 2023 (NSW)

Date: 19 September 2023
Source: New South Wales Government
Jurisdiction: New South Wales

Abstract:

On 4 September 2023 the Revenue, Fines and Other Legislation Amendment Act 2023 (NSW) commenced.

The Act has made amendments to numerous legislation, as well as legislation most relevant to property matters, including the Duties Act 1997 and Taxation Administration Act 1996.

Among the changes to the Duties Act 1997:

• Section 12(4)(b) has been added to clarify that if an electronic instrument has not been signed, it is deemed first signed when Revenue NSW receives information regarding the instrument;
• Section 25(1)(a) has been deleted removing the 12 month time limit for dutiable transactions to occur to be viewed as a single transaction for the purposes of aggregation;
• Section 31(3) has been added to clarify that duty will be calculated at the time the agreement was first signed when there is a change in the purchases price;
• Section 54A(7) has been amended in relation to transfer concessions when a managed investment scheme is deregistered, so that a $50 concessional rate will be payable;