Reliance Conveyancing
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At Reliance Conveyancing, with over 10 years of experience we provide the right advice and tailored service to ensure your settlement is smooth, secure, and hassle-free. Conveyancing is the process of transferring ownership of a legal title of land (property) from one person or entity to another. Our aim is to provide you with a quality conveyancing experience, with sound advice at competitive rates with no hidden costs.
Delivering clarity, efficiency and reliability at every stage of the property journey.
Weβre proud to receive positive feedback from our valued clients, reflecting our commitment to seamless conveyancing services.
At Reliance Conveyancing, every transaction is handled with precision, transparency and care β because your investment deserves nothing less.
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π Call: +61 499 175 797
π©[email protected]
π Craigieburn VIC 3064
08/11/2024
Proud to be a part of Victoria Top 100 Asia Innovation Business Leaders ~ Category ~ Legal ~ ~ ~ ~ 10 years in Business ~ proud of the journey~ hardwork, dedication, positivity, gratitude and humble π§Ώ
Land Tax:
The new law prevents the adjustment of land tax between a vendor and purchaser in contracts for the sale of land from 1 January 2024.
A change to the original Bill confirms it does not apply to contracts entered on or before 31 December 2023, that settle on or after 1 January 2024.
It does not apply to contracts where the consideration exceeds $10 million (to be indexed).
An adjustment clause will be unenforceable (unless the transitional provisions apply).
Prosecution and potential penalties can apply (currently $11,540 for individuals and $57,5700 for corporations) for breaches of the new law.
Windfall Gains Tax:
From 1 January 2024 the new law prevents the passing on or adjustment of a windfall gains tax (βWGTβ) liability, that has been assessed, on the subsequent sale of that land.
The intention is that WGT liability, once assessed, will be reflected in the sale price, and not dealt with as an adjustment.
Prosecution and potential penalties can apply (currently $11,540 for individuals and $57,700 for corporations) for breaches of the new law.
These changes do not apply to contracts (and compliant options) entered on or before 31 December 2023, that settle on or after 1 January 2024.
Vacant residential land tax (VRLT):
VRLT is expanded from existing limited council areas in inner Melbourne to all land in Victoria.
In general terms a property is βvacantβ if it has not been occupied for 6 months in the previous year.
There are some exemptions that may apply such as a holiday home, but conditions apply for all exemptions.
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Contact the business
Address
Unit 17, 7-11 Eclipse Drive, Mickleham
Melbourne, VIC
3064
Opening Hours
| Monday | 9am - 5pm |
| Tuesday | 9am - 5pm |
| Wednesday | 9am - 5pm |
| Thursday | 9am - 5pm |
| Friday | 9am - 5pm |
