Weekly News Update 25.2.2021

/ / Weekly Update
Article 1: All developers to provide fibre-ready facilities for all new building lots and units  

The Telecommunications Amendment (Infrastructure in New Developments) Act 2021 has received Royal Asset and came into effect on 17 February 2021. The Act amends Part 20A of the Telecommunications Act 1997 and requires that all developers ensure that all building lots or units have fibre-ready facilities installed before they are sold or leased.

The amendments also insert a new definition of ‘functional fibre-ready facility’ to make it clear that a fibre-ready facility must be technically capable of being used in connection with an optical fibre line (ie it must not be blocked or otherwise rendered unusable).

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Article 2: Build to Rent Scheme Commences 

The Build-to-Rent scheme was announced last year as a strategy to improve rental housing options, boost construction and support jobs.

The scheme will provide eligible build-to-rent properties with a 50% reduction in land value for Land Tax purposes.

Australian based developers that are foreign persons, will receive an exemption from Surcharge Land Tax and Surcharge Purchaser Duty.

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Article 3: 2021 Membership Renewal 

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

We will be forwarding a renewal email to all members 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]

Renew here 

Article 4: New Single Party e-Lease 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 5: Women and Super 

International Women’s Day is coming up on 8 March next week,  With this in mind, Andrew Proebstl of legalsuper has written a blog (link below) reflecting on the current status of women and superannuation and the impact of the gender gap in 2021.
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