Weekly News Update 14.1.2021

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Article 1: Conveyancing Law and Practice Course

Macquarie University’s Conveyancing Law and Practice Course registration for Session 1 2021 closes on 22 January.  Study session starts 22nd February. Register here.

Article 2: NSW Government announces next step towards 100% electronic lodgment

The NSW Government is seeking feedback on the Exposure Draft of the Real Property Amendment (Certificates of Title) Bill 2020.

The purpose of the Bill is to allow for 100% electronic lodgment of land transactions and move away from paper-based processes. The Bill makes several amendments to legislation to achieve this – the key one being the abolition of certificates of title.

Read more here.

Article 3: Strata statutory review: consultation now open 

The NSW Government has commenced a wide- ranging review of the laws affecting strata schemes. Public consultation is now open and will close on 7 March 2021.

Read more here.

Article 4: FIRB Guidance Notes update

Following recent reforms to the Foreign Acquisitions and Takeovers Act 1975, FIRB Guidance Notes have been consolidated and updated.
New naming conventions apply (G1, G2, G3) to differentiate them from the current series of Guidance Notes (GNs).
The full suite of new guidance is now available on the FIRB website

Article 5: HomeBuilder scheme changes

The HomeBuilder scheme has been extended to 31/03/2021 and applications need be lodged by 14/04/2021.

For new build and substantial renovation contracts signed between 01/01/2021 and 31/03/2021, the grant payable is $15,000.00.

The construction timeframe has been extended to 6 months for ALL HomeBuilder applicants.

Where the new build contract is signed between 01/01/2021 and 31/03/2021 the property price cap for NSW is $950,000.

Read more here.