All purchasers of real estate worth $750,000 or more must withhold 12.5% of the purchase price from the seller unless the seller can provide a clearance certificate from the Australian Taxation Office (ATO). This is known as the foreign resident capital gains withholding (FRCGW). The FRCGW amount is withheld to ensure that foreign residents pay …

When does the foreign resident CGT (Capital Gains Tax) Withholding apply in Real Estate? Read More »

We’re excited to announce that we’ve just launched a new SLA (Service Level Agreement) that guarantees we’ll prepare your Contract of Sale of Real Estate and Section 32 within 2 business days (subject to limited third party searches)! This is thanks to our new industry-leading technology and award-winning team. We know that buying or selling …

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Goods and Services Tax (GST) is a 10% tax that is applied to most goods and services sold in Australia. However, there are some exceptions, including the sale of certain property. GST is not payable on the sale of pre-existing residential property. This means that if you are buying a home that has already been …

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If you’re buying property in Victoria, it’s important to understand what a material fact is. A material fact is any information that could affect a buyer’s decision to purchase the property. This could include things like building defects, existence of combustible cladding or asbestos, flooding or whether there has been a serious crime on the …

What are Material Facts and why are they important when buying property in Victoria? Read More »

A Net Promoter Score (NPS) is a metric that measures customer loyalty. The score ranges from -100 to +100, with a higher score indicating higher customer loyalty. Bond Property Lawyers is persistent in one thing and that is to obtain an NPS from our client’s to ensure we are exceeding expectations. The industry average for …

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It is a legal requirement for any person involved in a property purchase or sale to undergo Verification of Identity (VOI). Identity verification is vital in ensuring the security and success of the conveyancing process. By verifying your identity correctly, you can reduce the risk of fraud and protect yourself from potential legal or financial …

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Purchasing a property at an auction can be an exciting way to buy a home. However, there are some legal aspects of buying a property at an auction that you should know before placing your bid. Here are a few things to keep in mind: 1. Research the property: Before bidding for a property, do …

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Nowadays, with the increasing trend of remote work, many people are finding themselves working from home. But working from home can be a bit challenging for some people, especially those new to this form of work setup. Therefore, here are some best practices you can follow to ensure you stay productive and maintain a healthy …

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If you’re planning to buy a property, then securing finance pre-approval should be one of your first steps. A finance pre-approval lets you know how much you can borrow and what criteria you need to satisfy to secure the finance. Not only does this gives you a better idea of the properties in your price …

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PEXA, or Property Exchange Australia, is a secure digital platform that enables parties involved in the buying and selling of property to complete the entire conveyance process online. This means no more paper-based settlements! With PEXA, you can electronically sign and exchange documents, access and verify title information, and manage funds all in one place. …

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