Starting 1 January 2025, the Vacant Residential Land Tax (VRLT) will apply to all vacant residential properties across Victoria, expanding beyond inner Melbourne. Property owners must understand the new rules, progressive tax rates, and exemptions to avoid costly penalties. Learn how these changes impact holiday homes, regional properties, and your reporting responsibilities. Read More
The Bank of Mum and Dad refers to parental funding. It’s common for parents to want to help their children get a head-start in life, if possible, by advancing money for them to buy their first home. This article examines the risks to the parents from a property law and a family law perspective. Read More
Vendors have been aware of their obligations under a vendor's statement (section 32 of the Sale of Land Act 1962 (Vic) (Act)) to provide specified written information to a purchaser, prior to the purchaser signing the contract. A vendor providing false or incomplete information in breach of section 32 is guilty of an offence, and in addition the purchaser, in many cases, may be able to rescind or cancel the contract at any time prior to settlement. Read More