Weekly News Update 11.2.2021

/ / Weekly Update
Article 1: New single- party eLease available 

From a new single-party electronic lease (eLease) dealing form is available through Property Exchange Australia (PEXA).

The new version of the eLease will replace the existing two-party eLease.

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Article 2: Job Making Hiring Scheme 

The JobMaker Hiring Credit scheme is an incentive for businesses to employ additional young job seekers aged 16–35 years.

Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021.

Payments are :

  • up to $10,400 over a year for each new employee aged between 16 – 29;  and
  • up to $5,200 over a year for each new employee aged 30 – 35.

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Article 3: Real Property Amendment (Certificate of Title) Bill 2020

ORG has released the exposure draft for the above Bill for public consultation

The purpose of the Bill is to allow for 100% electronic lodgment of land transactions and move away from paper-based processes including the abolition of paper titles.

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Article 4: PEXA Tutorial Webinars 

PEXA has recently been running a series of tutorial webinars focusing on how to use various aspects of the platform. Not all these sessions are recorded and need to be watched live.

Next week’s session is The Enhanced Settlement Summary on Tuesday 16 February 2021 at 12.30pm.  The session covers the new settlement summary screen, demonstrates the enhancements to task completion, explores calculating both Vendor Surplus and Purchaser Shortfall for settlement as well as where to find useful Help Resources

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Article 5: Land Discount for Build to Rent 

The NSW Government is introducing a land tax discount for new build-to-rent housing projects until 2040 and a new Housing Diversity SEPP to provide more housing options, to provide greater surety for renters, boost construction and support jobs during the COVID-19 recovery.

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Article 6: Strata Legislation Review 

The Government has commenced a wide-ranging review of the laws affecting strata schemes under the Strata Schemes Management Act 2015 and the Strata Schemes Development Act 2015.

Public consultation is now open and will close on 7 March 2021.

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