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Yearly Archives

2017

Strata
8 December, 2017

Separable Parts in Staged Development

The Strata Building Bond Scheme, which was introduced by the Strata Management Act 2015 (the Act), provides that in situations where the Act applies (See New strata law and building bond regime are set to commence), the developer must give a security (“building bond”) to the Secretary of the Department…
Guarantees
8 November, 2017

Are you Guaranteeing an Indemnity?

Introduction It is common for a contractor to provide an indemnity and/or a guarantee to a principal under a construction contract. However, contractors must know that the two are fundamentally different. They should not take on additional obligations/risks than what is agreed between the parties under the construction contract. For…

Deeming provisions doomed under the Building and Construction industry Security of Payment Act (1999) NSW (Act)
Stamp duty
8 September, 2017

Stamp Duty Relief for Australian-Based Foreign Developers

A bill has recently passed through both Houses of the NSW Parliament entitled the State Revenue Legislation Amendment (Surcharge) Bill 2017 (NSW) (Bill) which targets Australian-based developers that are foreign persons (Foreign Developer). It has received assent but is to commence on a date to be proclaimed. We await the…