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As you know, in order to support and drive the economy, the Reserve Bank of Australia has lowered the Cash Rate several times. Cash Rate is the interest rate on unsecured overnight loans between banks. The decrease in Cash Rate will cause other interest rates to fall. Although interest rates have fallen, the banks’ requirements...
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The regional First Owner Grant (FHOG) Is Extended to 30 June 2021 The Victorian government has extended the $20,000 regional First Home Owner Grant for first home buyers who sign a contract to buy or build their new home for 12 months. This was created to support Victorians combating the negative economic impact of coronavirus...
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As everyone is aware, the Coronavirus has put many Australian companies in a very difficult position. Some of the companies’ fixed costs, such as wages, rents, utilities, bank interest, etc., may not be reduced as a result of the decline in sales. Even worse, the sharp decline in income has brought huge cash flow pressure...
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According to a news report from 9news on 18 March 2020, the Australian Federal Government recently announced a level 4 travel ban worldwide, which is the first time in Australian history. The report also stated that a warning has been issued on the government website: “Understand that you could die. Make sure you have an...
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Foreign Investment System The full name of FIRB is FOREIGN INVESTMENT REVIEW BOARD, the Overseas Investment Review Board. According to Australia ’s overseas investment system, all overseas persons should obtain FIRB approval before purchasing residential properties in Australia. (From 29 March 2020, all foreign purchasers should obtain FIRB approval to purchase the commercial properties and...
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Recently the Victorian government formally passed the Sale of Land Amendment Act 2019. The Act has substantial impacts on the sunset clause in off-the-plan Contracts. What is a Sunset Clause Sunset Clause is commonly included in residential off-the-plan contracts. As the development of residential properties encounter multiple uncertain factors, a sunset clause allows both the...
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