What the New AML Laws Mean for You (and Why We’ll Be Asking for More Information)
If you’re buying or selling property in NSW, you may notice something new during your conveyancing process — we may ask you for more identification and information than before. This is due to upcoming changes to Australia’s anti-money laundering laws, known as Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF laws). Here’s what that means […]
Foreign Resident Capital Gains Withholding
There are many taxes involved in the process of buying and selling property in NSW, including GST, Capital Gains Tax, Land Tax, and Transfer (Stamp) Duty. A relatively new addition to Conveyancing transactions is the Foreign Resident Capital Gains Withholding, which now affects all property transactions in Australia. You might wonder why it affects you […]