Our latest insights

With only 3 weeks remaining in the financial year, builders should immediately test their compliance with the Queensland Building and Construction Commission’s (QBCC) Minimum Financial Reporting Requirements (MFR) to ensure there is enough time to rectify any deficiencies before FY22/23 year end.

A foreign real estate buyer has been penalised $250,000 by the ATO after purchasing Australian residential properties without being authorised by the Foreign Investment Review Board (FIRB). It was found that in addition to owning two established properties that were also in breach, the investor had purchased a further four unauthorised properties.

The Queensland Government has today announced that the implementation of phases 3 and 4 of the Project Trust Account framework will be delayed by 9 months.

Despite facing industry wide challenges, private developers and not-for-profits are attempting to combat the housing affordability crisis. What could the Government do in the Budget to create more affordable housing?

Builders with projects in Queensland who are impacted by the requirement to operate PTAs on each project they undertake should be preparing their business for the administrative burden of managing this additional regulatory compliance.

Builders undertaking projects in Queensland should ensure that they are compliant with two significant regulatory requirements that fall due over the New Year period: 1) The roll-out of the Project Trust Account regime to commercial projects; and 2) Annual Financial Reporting to QBCC demonstrating compliance with the Minimum Financial Requirements.

We explore the different market segments in the construction industry during the COVID building boom to better understand the profile of industry participants most likely to feel the sting of continuing supply chain pressure.

Under current law, GST is included in the purchase price of new residential premises and new potential residential (vacant) land, with the supplier/developer required to remit that GST to the ATO in their Business Activity Statement for the tax period in which the supply occurs - usually on settlement.

The August 2021 figures have confirmed that we are in the midst of an unexpected real estate boom, with national house prices up 18.4% year on year according to CoreLogic’s results – the fastest annual price growth since 1989. In the eighteen months since COVID-19 first presented in Australia, it’s fair to say that the initial chorus of gloomy predictions for real estate and construction didn’t come to pass, and thankfully have proven to be well off the mark.

Earlier this week, it was announced that businesses can now register their details to receive updates about procurement opportunities for the Brisbane Olympics & Paralympics in 2032.

There has been an ongoing debate amongst those of us who practice in stamp duty as to how duty should appropriately apply to tenant’s fixtures, particularly in the context of renewable energy projects.

There’s nothing in the Modern Manufacturing Initiative for the real estate and construction sector, right? Well there is, and it could take the sector into new regions and new kinds of work.