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It is important for co-buyers to understand the difference between of the two tenures. Each form of ownership has legal and tax implications, especially when one owner's death or if the property is sold. Ownership In joint tenancy, each co-owner has an equal undivided interest in the entire property. Tenants in Common can own different percentages of the property, for example, 60/40. Right of Survivorship One of the key features of joint tenancy is the right of survivorship

A well-negotiated contract is one of the most effective ways to protect the interests of both buyers and sellers. While the standard REIQ contracts provide a balanced legal framework, every property transaction is unique. Identifying and addressing potential issues before a contract is signed can significantly reduce the risk of disputes, unexpected costs and settlement delays. Pre-contract negotiations allow the parties to clarify important commercial and legal matters, incl

From 1 July 2026, Australian lawyers and conveyancers providing certain conveyancing and property-related services became subject to the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime under Australia's "Tranche 2" reforms. These reforms significantly change the way property transactions are conducted by requiring legal professionals to verify clients, assess money laundering risks and report suspicious activities to AUSTRAC. The reforms are designed to

From 1 July 2027 the reforms introduce a minimum 30% tax rate on captial gains Australia's Capital Gains Tax (CGT) rules are undergoing significant reform. Under legislation passed in 2026, the long-standing 50% CGT discount for individuals and trusts will be replaced, from 1 July 2027, with an inflation-based indexation system. Rather than automatically reducing a capital gain by half, the new rules aim to tax only the "real" gain after allowing for inflation. The reforms al

The seller disclosure regime under Part 7, Division 4 of the Property Law Act 2023 (Qld) is a mandatory statutory regime and, subject to the specific statutory exceptions in the Act, cannot be excluded or modified by contract. The key provision is section 98 of the Property Law Act 2023, which provides: "This division applies despite any agreement to the contrary." The Property Law Act contains specific exemptions from the disclosure regime (for example, certain transfers bet

Family (discretionary) trusts have long been a popular structure for asset protection, succession planning and income distribution. Under the current system, trust income is generally distributed to beneficiaries, who pay tax at their individual marginal tax rates. The Australian Government has introduced reforms that will significantly change the taxation of discretionary trusts. From 1 July 2028, trustees of discretionary trusts will generally be required to pay a minimum t