UNFAIR CONTRACT TERMS IN REAL ESTATE CONTRACTS (INCLUDING LEASES)
From 9 November 2023, consumers and small businesses have had increased protection from unfair contract terms contained in standard form contracts under the Australian Consumer Law and Competition and Consumer Act 2010 (Cth). We wrote generally about these protections in our update Constructing a fair contract can save you millions.
LAND PURCHASERS TO BENEFIT FROM LAND TAX AND WINDFALL GAINS TAX EXCLUSIONS ON SALE
Legislation in Victoria has now passed the Legislative Assembly to prohibit a vendor from passing on an existing land tax or windfall gains tax liability to a purchaser on sale of land. Subject to the legislation passing unamended in the Legislative Council and receiving Royal Assent, the changes will take effect 1 January 2024.