Weekly News Update 19.3.2021

/ / Weekly Update
Article 1: 2021 Membership Renewal 

Members of AICNSW are reminded that membership will expire on the 31 March 2021.

We forwarded to all current members a renewal email on Monday 1  March 2021 with details on how to renew and providing login details.

Renewals can only be done through the Membership Portal on AICNSW website.

If you have any queries in relation to membership renewal please contact Vicki Aird at [email protected]nsw.com.au

Renew here 

Article 2: Revenue NSW website area for industry professionals 

Did you know that RNSW has a section of their website for industry professionals?  The Online duties services for industry professionals” area contains useful information and resources including the Duties Document Matrix which useful stamping information for the various types of transactions such as:

  • the relevant Section of the Duties Act (with link)
  • whether lodgment via eDuties or EDR
  • the forms required for assessment
  • documents to be lodged and/or retained for EDR records
  • links to the evidentiary requirements to be retained/lodged via eDuties
  • any relevant Revenue Ruling(s) (with links).
  • whether the Surcharge may apply.
  • whether client identification is required.

A link to the section is in the Easy Access area of the home page of the RNSW website.

Article 3: Real Property Amendment (Certificates of Title) Bill 2021  

The above Bill, required to complete the transition to 100% eConveyacing, was introduced into Parliament on 17 March 2021.

The Bill will enable the NSW Government to abolish paper certificates of title (CTs) later in the year. It includes other consequential changes intended to strengthen and future-proof the land titles system in NSW.

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Article 4: Abolition of Certificates of Title 

The Office of the Registrar General has updated its website with a new landing page about the cancellation of certificates of title.
We understand that the page will be updated with additional material, such as further guidance, as things progress.

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Article 5: HomeBuilder grant ending 

A reminder that the extension to the HomeBuilder program ends on 31 March 2021,

All applications, irrespective of when the eligible contract was signed, must be submitted within the HomeBuilder application portal by 14 April 2021.

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Article 6: COVID-19 – Retail and Commercial Tenancy protections end soon 

The Retail and Other Commercial Leases (COVID-19) Regulation (No 2) 2020 which extended the period of restrictions on the exercise of some Landlord rights under retail leases legislation during the COVID-19 pandemic period will end on 28 March 2021.

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Knowledge Bank: 

Watson v Watson [2021] NSWSC 229

CONTRACTS – formation – intention to make binding agreement – whether agreement merely preliminary – deed provided regime for parties to value property and exchange and settle contracts for the sale of land – whether deed constituted a binding agreement – held that deed was immediately binding on the parties EQUITABLE REMEDIES – specific performance – deed containing agreed procedure to facilitate transfer of an interest in property – parties failed to take steps to commence agreed procedure – plaintiff held to have failed to carry out essential obligations under agreement – plaintiff was not shown to be at all relevant times ready, willing and able to perform his obligations – orders for specific performance refused

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