Changes to off the plan contracts from 1/12/2019
An off the plan contract means a contract for the sale of a residential lot that has not been created at the time the contract is entered into. Developers of new residential units usually enter into off the plan contracts with purchasers to sell units before they are built. Under the Conveyancing Legislation (Amendment) Act […]
New minimum wage from 1 July 2017 & Penalty rates change
The new national minimum wage from 1 July 2017 is $694.90 per week or $18.29 per hour, an increase of 3.3% from the previous financial year. For employees covered by an award, award rates will increase by 3.3%. Also from 1 July 2017, penalty rates in the Hospitality, Restaurant, Fast Food, Retail and Pharmacy Awards […]
New Strata laws from 30 November 2016
New Strata laws came into effect on 30 November 2016. Some key changes include: strengthening the accountability of strata managers allowing owners to adopt modern technology to conduct meetings, vote, communicate and administer their scheme the need for owners to review by-laws (strata community rules) within 12 months, which can be customised to suit their lifestyle – such as whether to […]
New national minimum wage and high income threshold from 1 July 2016
Fair work commission has increased the national minimum wage 2.4% from 1 July 2016. It is now $672.70 per week or $17.70 per hour. The high income threshold is $138,900 from 1 July 2016. An Employee whose annual income exceeds the high income threshold is not entitled to make an unfair dismissal claim under the Fair Work […]