The Property Mill Queensland – 25th November 2014

November, 2014

In the media

G20 to focus on clean coal technology

Group of 20 leaders have asked Japan to fast-track the development of clean coal technology that could be used by developing countries to burn Australian coal more efficiently. While the G20 communique made a reference to climate change but no binding commitment to a new global fund, it acknowledged the ongoing role of fossil fuels in meeting international energy demand (18 November 2014)

To read more, please click here.

China coal tariffs to go under FTA

China’s recently installed coal tariffs will be removed within two years under the Australia-China free trade agreement signed yesterday. Tariffs on coal introduced last month – 6% on thermal coal and 3% for coking coal – will also be removed or phased out.

To read more, please click here.

Rising house prices good for economy: RBA

Investors are dominating the housing market, but at least rising house prices are encouraging people to spend more money, the Reserve Bank says. The central bank appears less concerned than it has been in recent months about the growth in dwelling investment, when it flagged regulations to curb investor activity in the housing market (18 November 2014)

To read more, please click here.

$644 million hits the ground for local councils

Council coffers across Australia are currently receiving the latest instalment of the Australian Government’s Roads to Recovery and Financial Assistance Grants funding. The 183 local government authorities that have so far submitted their returns for Roads to Recovery have now received their initial $69 million of funding and can now get on with their chosen projects to build and upgrade their local road and street networks (17 November2014)

To read more, please click here.

G20 puts climate and economic link in spotlight

The Climate Institute welcomes the emphasis the G20 communique and weekend events have placed on the urgency of climate change, its economic importance and the need for all nations to act. The final G20 communique encouraged countries to announce their post 2020 targets in the next couple of months, as the world moves towards negotiating the next global agreement in Paris in December 2015 (16 November 2014)

To read more, please click here.

Property transactions finally hit the digital age under PEXA

A new national online property exchange could soon mean that when you sell your house the money hits your account within minutes and settlement times could be reduced to just 5 days.

Known as Property Exchange Australia Ltd (PEXA), the electronic clearing house went fully live in New South Wales this week hooking-up the state to digitised transactions, a milestone that follows earlier strong progress in Victoria and Western Australia (12 November 2014)

To read more, please click here.

Dwelling Price Growth Continues to Ease

Compared with a year ago, residential property prices are up by 9.1 per cent. This includes growth of 9.2 per cent in established house prices and an 8.5 per cent increase in attached dwelling prices over the year. Today’s figures are a welcome addition to the suite of home price data which show that price growth is easing to a much more sustainable rate, commented HIA Senior Economist Shane Garrett (11 November 2014)

To read more, please click here.

Queensland

Rural areas to be briefed on Gladstone region’s proposed planning law changes

The Gladstone council says it will host a series of meetings in rural parts of the shire, to discuss proposed changes to local planning laws (18 November 2014)

To read more, please click here.

Historic agreements bring jobs to Queensland

To build on the Galilee Basin Development Strategy, the State Government announces they are now prepared to sign agreements with Galilee Basin proponents who can demonstrate they will meet the majority of the cost of providing rail, port and other infrastructure (17 November 2014)

To read more, please click here.

Queensland taxpayers to help fund Abbot Point coal rail line

Queensland taxpayers will help fund a rail line from Abbot Point port to what will be Australia’s largest coal mine, with the door open to similar deals with other miners (17 November 2014)

To read more, please click here.

Smart Tracking at Gold Coast Airport launched

Smart Tracking has particular benefits for airports like the Gold Coast where approaches are complicated by terrain and urban encroachment issues. The new system is expected to improve noise outcomes for communities located to the north of the airport by keeping aircraft flying over the water for longer and minimising time flying over houses (13 November 2014)

To read more, please click here.

Revised Gold Coast Broadwater development plans released

Revised plans have been released for the proposed resort development on the northern Gold Coast, including a tripling in size of an existing island. The new plans place most of the development including a cruise ship terminal, hotels, shops and parkland on an expanded Wave Break Island (07 November 2014)

To read more, please click here.

Queensland floods class action to go ahead in 2016

The Supreme Court in Sydney struck out the class action’s statement of claim, but would allow it to be amended for the case to be heard on July 18, 2016. The Supreme Court ruled the plaintiff did not address adequately the phrase “risk of harm” as it appeared in the Civil Liability Act (07 November 2014)

To read more, please click here.

Published – articles, papers, reports

Residential Property Price Indexes: Eight Capital Cities, Sep 2014 / ABS

Preliminary estimates show that the price index for residential properties for the weighted average of the eight capital cities rose 1.5% in the September quarter 2014. The index rose 9.1% through the year to the September quarter 2014 (11 November 2014)

To read more, please click here.

Balancing the G20’s global impact/ Barney Foran; Institute for Land, Water and Society

These twenty brief reports use consumption accounting methods to present the critical economic, social and environmental measures that underpin the world’s top twenty economies, the G20 (17 November 2014)

To read more, please click here.

In practice and courts

$2 million pledge for threatened species projects

The Australian Government is committing an extra $2 million to boost the recovery of threatened species in its national park estate.The 10 projects span almost the entire Commonwealth parks estate (Kakadu, Booderee, Christmas Island, Norfolk Island and Pulu Keeling national parks) and the Australian National Botanic Gardens (17 November 2014)

To read more, please click here.

For factsheets on the specific projects, please click here.

Department of the Environment: Reef Trust Tender – Wet Tropics

The Expression of Interest stage for the Reef Trust Tender – Wet Tropics Programme is now open – Expressions of Interest close on 18 December 2014

To read the Reef Trust Tender, please click here.

 National Stronger Regions Fund is open for applications: Round one

The Fund will provide between $20,000 and $10 million for up to 50 per cent of the cost of projects.

The Guidelines for the National Stronger Regions Fund detail the type of project proposals sought, how to lodge an application, how assessments will be conducted, and critical program dates. Applications for round one close on 28 November, 2014. To access the guidelines, and to lodge a round one application, visit here

Announcements, Draft Policies and Plans released 2014

New Property legislative scheme to commence on 1 December 2014

The Land Sales and Other Legislation Amendment Act 2014 will commence on 1 December, in line with the Property Occupations Act 2014

Four pieces of legislation will replace the current Property Agents and Motor Dealers Act 2000 (PAMDA). They are:

The Attorney-General has also announced that the Land Sales and Other Legislation Amendment Act 2014 will commence on 1 December, in line with the Property Occupations Act 2014.

All practitioners should note implications for contracts

The transitional provisions of the Property Occupations Act 2014 can be found in Part 14. Specifically, s.267 provides the provisions of PAMDA will continue to apply to relevant contracts entered into prior to 1 December 2014. This means that if a relevant contract and disclosure statement was issued prior to 1 December 2014, then unless the contract has been signed by both parties and the buyer notified by 30 November, the seller will need to re-issue the documents in the new form required under the Property Occupations Act 2014 (or the amended BCCMA or LSA).

The commencement of the Property Occupations Act 2014 means there will be significant changes to the prescribed forms that currently exist under PAMDA:

Cases

David Hambleton as joint and several Liquidator of Sky 5 Pty Ltd (in liquidation) v The Chief Executive, Office of Fair Trading Department of Justice and Attorney General & Anor [2014] QCAT 511

APPLICATION FOR EXTENSION OF TIME – PAMDA – where the Applicant sought an oral hearing of an application for extension of time – where a large claim and difficult matter – where an oral hearing for submissions only was directed – where a claim upon the fund cannot be considered until it is processed in accordance with the Act

To read more, please click here.

Legislation

Queensland

 Acts as passed

 No 59Environmental Protection and Other Legislation Amendment Act 2014 – 07 November

No 60Major Events Act 2014 – 07 November

No 61 Queensland Heritage and Other Legislation Amendment Act 2014 – 07 November

 

Queensland legislation can be accessed at www.legislation.qld.gov.au

Contact Mills Oakley

Melbourne


James Price | Partner 
T: +61 3 9605 0824
E: jprice@millsoakley.com.au


Anthony Brearley | Partner
T: +61 3 9605 0810
E: abrearley@millsoakley.com.au


Tom Cantwell | Partner
T: +61 3 9605 0958
E: tcantwell@millsoakley.com.au

luke-westmore

Luke Westmore | Partner
T: +61 3 9605 0061
E: lwestmore@millsoakley.com.au

Brisbane

tony-butler

Tony Butler | Partner 
T: +61 7 3228 0432
E: tbutler@millsoakley.com.au

Sydney


lachlan-paterson

Lachlan Paterson | Partner
T: +61 2 8289 5895
E: lpaterson@millsoakley.com.au

Catherine Hallgath | Partner
T: +61 2 8289 5806
E: challgath@millsoakley.com.au

Tim L’Orange | Partner 
T: +61 2 8289 5816
E: tlorange@millsoakley.com.au

Canberra

adam-peppinck

Adam Peppinck | Partner
T: +61 2 6196 5203
E: apeppinck@millsoakley.com.au

Perth

andrew-logan

Andrew Logan | Partner
T: +61 8 6167 9802
E: alogan@millsoakley.com.au

patrick-thaung

Patrick Thaung | Partner
T: +61 8  6167 9803
E: pthaung@millsoakley.com.au

 

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