PROPERTY IN QUEENSLAND: Introduction of the Land Sales and Other Amendment Bill 2014 in Queensland Parliament

1 September 2014

DOWNLOAD PDF

As published in CK Momentum Issue 3 (Click here to download)

The Queensland Government has introduced further amendments to property legislation, specifically for the sale of off-the-plan lots, which will be of significant benefit to property developers. Legislation to amend the Land Sales Act 1984 (Qld), the Body Corporate and Community Management Act 1997 (Qld) and instalment contract provisions in the Property Law Act 1974 (Qld) were introduced into Parliament on 3 June 2014.

Once enacted, notable changes will include the removal of the maximum deposit restriction of 10% for the sale of proposed lots under the Property Law Act 1974 (Qld) and allowing a deposit of up to 20% of the purchase price before the instalment contract provisions are triggered. Significant changes to the disclosure requirements under the Land Sales Act 1984 (Qld) in relation to proposed community title scheme lots are also intended.

This bulletin is produced as general information in summary for clients and subscribers and should not be relied upon as a substitute for detailed legal advice or as a basis for formulating business or other decisions. ClarkeKann asserts copyright over the contents of this document. This bulletin is produced by ClarkeKann. It is intended to provide general information in summary form on legal topics, current at the time of publication. The contents do not constitute legal advice and should not be relied upon as such. Formal legal advice should be sought in particular matters. Liability limited by a scheme approved under professional standards legislation. Privacy Policy

Subscribe

…and we’ll email you valuable insights into issues affecting you and your business.

More Insights

The go ahead for more solar in strata

Apr 23, 2021

On 24 February 2021, the NSW Government introduced new laws which makes it much easier to install renewable energy in strata buildings. Prior to this amendment, a vote on installing clean energy infrastructure required a special resolution to be passed, which is...

Stamp duty v land tax under the spotlight in NSW

Mar 2, 2021

Annual Property Tax as an Alternative to Stamp Duty in NSW Last year, NSW announced important taxation changes by outlining a proposal to transition from the up-front payment of stamp duty to an annual property tax. The proposal is contained in the NSW State...

Are wind farm turbines a fixture or a fitting? Christmas comes early for wind farm tenant in Victoria

Dec 22, 2020

Introduction Christmas has come early for a wind farm operator in Victoria with a recent decision in the Supreme Court of Victoria determining in their favor and adding to authority on how renewable energy infrastructure built on leased land (such as wind turbines) is...