One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

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First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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Nearly one third of all homes resold over the March quarter did so at more than double their previous purchase price, with the average gross profit around $239,855 according to the latest Pain and Gain report from CoreLogic.
The report found 90.8 percent of properties resold over the quarter made a profit and 31.9 percent of homes resold for more than double their previous purchase price.
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The report found the proportion of both house and unit loss-making resales across the combined capital cities trended higher over the past quarter.
"Over the quarter, 5.8 percent of house resales and 9.4 percent of unit resales were at a price lower than the previous purchase price," the report noted.
"The data shows that historically capital city houses are much more likely to resell for a profit than units. In fact, there has been no period over which the proportion of loss-making resales was higher for houses than it was for units. 
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"The proportion of loss-making resales has increased across each capital city over the most recent three months. 
"While the proportion of loss-making resales has risen, on an historic basis most cities are still seeing quite a low instance of homes reselling at a loss. Perth and Darwin are the exceptions, seeing high proportions of loss-making resales. 
"In Perth, 16.3 percent of homes resold at a loss the highest proportion since September 1997 and in Darwin 21.1% of homes resold at a loss, the highest proportion since April 2003."
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jonathanchancellor-7SQnKwU6yx

Nearly one-third of homes resold for more than double their previous purchase price in March quarter: CoreLogic

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It was neck and neck when the Domain website advised Saturday night's auction clearance rates.
Nothing between Sydney and Melbourne with both major auction capitals on 73.5 percent.
It represented a rise for Melbourne and dip for Sydney. 
Just 200 auctions in each city given the school holidays, winter and election distractions.
Strathfield, the regular Sydney auction powerhouse, secured the top result when 12 Newton Road (above) fetched $4.29 million, some $290,000 over reserve. The new luxurious six bedroom, six bathroom family home came with Victorian Ash staircase. The 746 sqm block cost $1.55 million in 2013. There had been $3.7 million price guidance by Devine Real Estate.
Melbourne's highest priced weekend sale came post-auction at Middle Park having price guidance at around $2.6 million.
The <a href="https://www.realestate.com.au/property-house-vic-middle+park-122839898" target="_blank">200 Page Street property</a> fetched $2.65 million was a 1930s triple fronted home on 280 sqm through Greg Hocking Holdsworth.
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It had sold in 2004 at $1.5 million.
Brisbane’s auction volumes fell from 175 to 66 this week, according to CoreLogic with the preliminary results showing 38 per cent of auctions were successful, down from 41 per cent over the previous week.
One year ago, 115 auctions were held across Brisbane with 63 per cent clearing, which was the second strongest clearance rate seen in the city last year, CoreLogic's Kevin Whelan noted.
Overall CoreLogic advised 70 percent of capital city auctions across Australia were successful, according to the preliminary results.
It was higher than the clearance rate recorded over the first month of winter in 2016 of 67 per cent.
The number of residential auctions held this week was around 800, down substantially from 2,200 last week.
Across Sydney the North Sydney and Hornsby was the busiest region for auctions and preliminary results showed 86 per cent of reported auctions were successful.
Melbourne's best performer across the city was the inner South sub-region that had a 100 percent clearance rate, but just from the 17 reported auctions.
There were 69 auctions held across Adelaide, down from 90 last week. The preliminary auction clearance rate was 74 per cent, a substantial rise from 59 per cent last week. One year ago, 85 Adelaide auctions were held with 69 per cent sold. 
The Somerton Park house of slain Adelaide Crows AFL coach Phil Walsh has gone on the market with offers sought by July 18.
The <a href="https://www.realestate.com.au/property-house-sa-somerton+park-122950362" target="_blank">four-bedroom, two-bathroom Bungey Ave</a> property is listed by McCammon Real Estate with hopes between $1.175 million and $1.25 million. 
 
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Phil Walsh’s son, Cy Walsh, has pleaded not guilty to murdering his father last July.
 
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jchancellor-FAypfDUnLy

Strathfield new build tops weekend auction results

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Over the last 25 years, home ownership rates have fallen sharply for young Australians.
Between 1982 and 2011, the home ownership rate for young adults aged 25 to 34 years dropped from 56 percent to 34 percent. Growing concerns about their home ownership prospects have prompted those in Generation Y (defined as 18-35 years for the purposes of this article) to become increasingly vocal about the difficulties of achieving home ownership.
This article draws on survey data from more than 4,300 respondents collected as part of the Bankwest Curtin Economics Centre Housing Affordability Report 2016. These findings highlight the housing affordability concerns of Generation Y.
The vast majority (86 percent) of Gen Y households living in the private rental sector or with their parents aspire to own a home, although not necessarily in the short term. Of these households, 30 percent believed they would be able to buy a home in the next two to five years. One-quarter believed home ownership was five to ten years away. Only 6% did not believe they would ever be able to buy a home.
Although many are choosing to delay home ownership as a lifestyle choice, others are forced to delay because of a lack of affordable housing options. Across all age groups, home owners were more likely to perceive their housing as affordable.
The survey reported that those living in unaffordable housing were making significant sacrifices to meet their housing costs. And 55 percent said sustaining high housing costs was leading to mental health issues, with those most affected in the private rental sector. This highlights the importance of affordable housing.
<h2>The ‘bank of mum and dad’</h2>
The deposit gap is the biggest barrier to home ownership. The survey calculated the average gap between the deposit currently available to an individual and the amount the individual expected to need for home purchase. This gap was around A$50,000.
Among Gen Ys already in home ownership, 38% reported they had received financial assistance from their parents or grandparents. For those yet to enter home ownership, only 17% expected to receive some assistance to buy. A further 24 percent indicated help might be offered.
Therefore, almost 60 percent of Gen Ys surveyed are unlikely to receive the benefit of intergenerational assistance. This may prevent them from ever entering home ownership.
Parental assistance to purchase
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</h4>
<h2>Housing opportunities for ‘Generation Rent’</h2>
Assistance for home purchase is becoming more and more important for Gen Ys. They are being dubbed “Generation Rent” as the Great Australian Dream of home ownership moves further out of their reach.
Among Gen Y survey respondents, three-quarters rated the First Home Owner Grant and stamp duty relief as being important in helping them into home ownership. Even the scrapped first home saver accountsscheme was viewed as important. The generation is becoming increasingly reliant on these volatile demand-side incentives.
Importance of government assistance
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So what can be done to help those who wish to enter home ownership but lack financial support? Government-backed low-deposit loans such as Keystart in Western Australia and Homestart in South Australia, which are designed for those on low to moderate incomes, have made a real difference to thousands of households. Although not without risk to government, these type of loans could be introduced in other states.
Shared ownership products enable the purchaser and a third party to share ownership of the dwelling, which reduces deposit requirements and monthly payments. These are successful in the UK, accounting for 18% of total housing stock, and are growing in popularity in Australia under the schemes noted above. There may be scope for community housing providers to step into this sector in partnership with private developers.
Discounted home ownership is another option. This option could be tied to developer contributions as part of inclusionary zoning requirements. However, it must be structured in a way that ensures any discount on the market price is retained in perpetuity.
The National Rental Affordability Scheme had its critics but at least provided a supply of affordable housing that reduced the rental burden for many households. That, in turn, increased their chances of saving for a deposit.
The rental sector is in dire need of a replacement scheme, which could possibly be enhanced using a model whereby investors offering new rental dwellings below market rents for a defined period are eligible for stamp duty relief. The argument will be raised that this will encourage demand from investors, raising prices.
Ultimately, the only long-term solution to improve the home ownership prospects of young Australians is to change the imbalance between incomes and house prices.
It is more critical than ever for government to implement meaningful structural reforms that improve home purchase affordability for Generation Y. Otherwise, growing numbers of Gen Ys all over Australia face a lifetime of renting without the financial and emotional security of home ownership.
Steven Rowley is director, Australian Housing and Urban Research Institute, Curtin Research Centre, Curtin University and can be contacted <a href="https://theconversation.com/profiles/steven-rowley-201914" target="_blank">here</a>.
Amity James is senior research officer, Curtin Business School, Curtin University and can be contacted <a href="https://theconversation.com/profiles/amity-james-272922" target="_blank">here</a>.
Rachel Ong is deputy director, Bankwest Curtin Economics Centre, Curtin University and can be contacted <a href="https://theconversation.com/profiles/rachel-ong-113482" target="_blank">here</a>.
All are authors for The Conversation.
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The key to home ownership for Gen Y

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When you buy or acquire a property in Victoria, you must pay land transfer duty (otherwise known as stamp duty) unless an exemption applies.
If you are a foreign purchaser and you acquire residential property, you must pay additional duty of 3 percent on the dutiable value of your share of the property (prior to the application of any concessions). This is, generally, the price you pay for the property/land. This additional duty applies to contracts, transactions, agreements and arrangements entered into on or after 1 July 2015.
For example, you will not pay the additional duty if you entered into a contract to purchase residential property on 30 June 2015 that has a settlement date of 30 September 2015. 
Where you have entered into a contract to purchase residential property before 1 July 2015 but nominate a foreign purchaser to take a transfer right of the property on or after 1 July 2015, additional duty may apply to the transfer.
The Victorian Government announced in its 2016-17 Budget that the rate of this additional duty will increase from 3 per cent to 7 per cent for contracts, transactions, agreements and arrangements entered into on or after 1 July 2016. 
Received a letter from us?
If you buy or acquire any land in Victoria, you must complete and lodge a Form 62 Purchaser Statement even if you believe you are not a foreign purchaser.
Please read our foreign purchaser frequently asked questions for more information. 
<h2>When does additional duty apply?</h2>
The additional duty applies to any arrangement or transaction that involves the transfer of interest in residential property. These include:
<ul>
<li>Buying a residential property at, for example, auction or by private sale,</li>
<li>Being given a residential property as a gift,</li>
<li>Certain leasing arrangements,</li>
<li>Transfers of interests in a deceased estate</li>
</ul>
The duty applies even if you only acquire part of, or a part interest, in the property. It also applies to relevant acquisitions in a landholder that holds residential property.
Where a foreign purchaser is exempt from paying land transfer or landholder duty, that purchaser will also be exempt from paying additional duty. Foreign purchasers are not entitled to a duty concession or a concessional rate of duty in respect of the additional duty payable.
Example A: Exemption applying in respect of additional duty
In his last will and testament, Joe has bequeathed all his assets, including two properties in Victoria, to his sister Joan, who is a foreign natural person.
The transfer of the two properties to Joan pursuant to Joe’s will is exempt from land transfer duty. Joan will also be exempt from paying additional duty.
Example B: Duty concession not applying when additional duty is payable
Kate, a foreign natural person, is transferred residential property bought off-the-plan for $500,000 which she intends to occupy as her principal place of residence (PPR). Kate is eligible for the PPR and the off-the-plan concession on the land transfer duty payable.
Additional duty is payable even though a concession may apply. Kate will be liable for the additional duty calculated at the rate of 3 per cent on the dutiable value of the property of $500,000.
<h3>Nominations and sub-sale events</h3>
Additional duty will apply where a foreign purchaser is nominated to take a transfer of residential property and that nomination is executed on or after 1 July 2015 and the nomination triggers a sub-sale event. This is the case even if the sale contract was entered into before 1 July 2015.  
Where a person is nominated to take a transfer under an off-the-plan contract this arrangement will trigger a sub-sale event (as there has been land development). In this situation land transfer duty is, generally, only charged on the transfer to the nominated person. Therefore, where a foreign purchaser is nominated to take a transfer of residential property under an off-the-plan contract and that nomination occurs on or after 1 July 2015, additional duty will apply.  
Where a nomination does not trigger a sub-sale event (i.e. no additional consideration and no land development) the transaction will be considered to have been entered into on the date of the contract and not the date of the nomination. In this case, additional duty will not apply in respect of a nomination made in respect of a contract entered into before 1 July 2015.
Complete a purchaser statement
<h2>Calculating additional duty</h2>
The additional duty is calculated at the rate of 3 per cent the dutiable value of your share of the residential property. This is, generally, the price you pay for the property/land. 
You can calculate the additional duty using these three steps:
<ol>
<li>Calculate the land transfer duty in the usual way, applying any relevant concessions</li>
<li>Calculate the additional duty at 3 per cent of the dutiable value of the property (prior to the application of any concession)</li>
<li>Add the land transfer duty amount in step 1 to the additional duty amount in step 2 to determine the total duty amount payable for the transfer
</li>
</ol>
When you make a relevant acquisition in a landholder, duty is charged on the unencumbered value of the total landholdings of the landholder. If you make a relevant acquisition as a foreign purchaser, the duty surcharge will only apply to the interest you acquired in the landholder proportional to the landholder’s landholdings which comprise residential property.
<h2>Residential property</h2>
Residential property is:
<ul>
<li>Land that has a building on it that is designed and constructed solely or primarily for residential purposes and may be lawfully used as a place of residence,</li>
<li>Land that is vacant but will have residential premises built on it</li>
</ul>
Importantly, if you are a foreign purchaser who acquires property that is not residential property, but intend to make, or later decide to turn it into residential property, the additional duty may still apply. In this case, you must advise us of your intention in writing.
<h2>Dual-purpose property(s)</h2>
Sometimes, a property can be used for both residential and commercial purposes.
If a property is primarily used for residential purposes, then it is a residential property. If so, the additional duty is applied to the foreign purchaser’s share of the dutiable value of the whole property, including the part that is not used for residential purposes.
<h2>Foreign purchasers</h2>
You will be a foreign purchaser if you are a foreign natural person, a foreign corporation or a trustee of a foreign trust.
<h3>Foreign natural persons</h3>
You are a foreign purchaser if you are not:
<ul>
<li>A citizen or permanent resident of Australia,</li>
<li>Or a New Zealand citizen with a Special Category Visa (Subclass 444)</li>
</ul>
<h3>Foreign corporations</h3>
A foreign corporation includes:
<ul>
<li>Corporations incorporated outside Australia, and</li>
<li>Corporations incorporated in Australia if a foreign natural person, another foreign corporation or trustee of a foreign trust has a controlling interest in those corporations </li>
</ul>
<h3>Foreign trusts</h3>
A foreign trust is a trust where a foreign natural person, foreign corporation or in the trustee of another foreign trust, has a substantial interest in the trust estate of that trust.
<h2>Controlling interest in a corporation</h2>
A foreign natural person, foreign corporation or the trustee of a foreign trust has a controlling interest in a corporation (either alone or with an associated person) when that person or entity:
<ul>
<li>Is in a position to control more than 50 per cent of the votes (voting power or potential voting power),</li>
<li>Has more than 50 per cent of the issued shares in that corporation, or</li>
<li>Has (in the Commissioner's opinion) the ability to influence the outcome of the decisions about the corporation’s financial and operating policies, taking into account certain factors (the practical influence a person can exert in addition to any rights the person can enforce, any practice or behaviour affecting the corporation’s financial or operating policies, even if that practice or pattern of behaviour involves the breach of an agreement or breach of trust)</li>
</ul>
An "associated person" can be any of the following:
<ul>
<li>A relative of the foreign purchaser,</li>
<li>A partner in a partnership,</li>
<li>Another corporation with the same majority shareholder as the foreign corporation, or</li>
<li>A trustee of the trust in which the foreign purchaser is a beneficiary</li>
</ul>
Note: the associated person does not have to be a foreign natural person, foreign corporation or the trustee of a foreign trust.
<h3>Voting power and potential voting power</h3>
The voting power in a corporation refers to the maximum number of votes that might be cast at a general meeting of the corporation.
Potential voting power in a corporation refers to the voting power based on the assumption that the votes might be cast at a general meeting of the corporation including each vote that:
<ol start="1">
<li>Might exist in the future because of the exercise of a right (whether actual, prospective or contingent), and</li>
<li>If it came into existence, might be cast at a general meeting of the corporation</li>
</ol>
<h4 class="rteindent1">Example 1: The transferee corporation is a foreign purchaser</h4>
XYZ Pty Ltd purchases land in Victoria. XYZ Pty Ltd is a corporation incorporated in Australia. Its shareholders are A Pty Ltd as to 45 per cent and B Pty Ltd as to 55 per cent.
B Pty Ltd has two shareholders, both of whom are foreign natural persons. As a result, B Pty Ltd is a foreign corporation who has a controlling interest in XYZ Pty Ltd which makes XYZ Pty Ltd a foreign corporation.
<h4 class="rteindent1">Example 2: The transferee is a foreign purchaser because there is a foreign natural person corporation or trust in the transferee’s corporate structure</h4>
XYZ Pty Ltd purchases residential property in Victoria. XYZ Pty Ltd is a corporation incorporated in Australia. XYZ Pty Ltd has two shareholders, A Pty Ltd as to 45 per cent and B Pty Ltd as to 55 per cent. B Pty Ltd has two shareholders, Danny and Elizabeth. Danny holds an Australian permanent visa and has 35 per cent of the shares in B Pty Ltd. Elizabeth is a foreign natural person who has 65 per cent of the shares in B Pty Ltd.
Elizabeth has an interest in more than 50 per cent of the issued shares in B Pty Ltd and so has a controlling interest in B Pty Ltd. B Pty Ltd holds more than 50 per cent of the issued shares, and therefore a controlling interest, in XYZ Pty Ltd. This makes XYZ Pty Ltd a foreign corporation which means that XYZ Pty  Ltd will be liable for the additional duty payable by foreign purchasers of residential property.
<h2>Substantial interests in a trust</h2>
A foreign natural person, foreign corporation or foreign trust has a substantial interest in a trust (either alone, or with an associated person) when that person or entity:
<ul>
<li>Has a beneficial interest of more than 50 per cent of the capital of the estate of the foreign trust, or</li>
<li>Has (in the Commissioner's opinion) the capacity to determine or influence the outcome of the decisions about the administration and conduct of the trust, taking into account certain factors (such as the practical influence the person can exert in addition to any rights the person can enforce, and any practice or behaviour affecting the trustee’s administration and conduct of the trust, even if that practice or pattern of behaviour involves the breach of an agreement or breach of trust)</li>
</ul>
For discretionary trusts, a person or member of a class of persons, is taken to have a beneficial interest in the maximum percentage of the capital of the foreign trust estate that the trustee of the discretionary trust is empowered to distribute to that person.
<h4 class="rteindent1">Example 3: The transferee trust is a foreign purchaser</h4>
ABC Pty Ltd acts as trustee for the ABC Unit Trust which has two unitholders, Joe and Elena. Joe is an Australian citizen who holds 40 per cent of the units in the unit trust. Elena is a foreign natural person who holds 60 per cent of the units in the unit trust.
Elena has a substantial interest in the ABC Unit Trust, which makes it a foreign trust.
<h4 class="rteindent1">Example 4: The transferee is a foreign purchaser because there is a foreign natural person, corporation or trust in the transferee’s trust structure</h4>
ABC Pty Ltd as trustee of the ABC Unit Trust buys residential property on its behalf. The ABC Unit Trust has two unitholders, Steve and Z Pty Ltd. Steve holds an Australian permanent visa and 40 per cent of the units in the unit trust, whilst Z Pty Ltd is a corporation incorporated in Australia which holds 60 per cent of the units in the unit trust.
The sole shareholder of Z Pty Ltd is Poli, a foreign natural person. Poli has an interest in more than 50 per cent of the issued shares in Z Pty Ltd and so has a controlling interest in Z Pty Ltd. Z Pty Ltd holds an interest in more than 50 per cent of the capital of the trust estate of the ABC Unit Trust and therefore has a substantial interest in the unit trust. This makes the ABC Unit Trust a foreign trust which means ABC Pty Ltd on behalf of the ABC Unit Trust will be liable for the additional duty payable by foreign purchasers of residential property.
<h2>Application for exemption </h2>
Corporations and trusts may, in some circumstances, be eligible for an exemption from the additional duty. The Treasurer has gazetted guidelines outlining the basis on which exemption decisions will be made. 
The exemption is intended to apply to those corporations or entities whose activities in the development or re-development of property adds to the supply of housing stock in Victoria. The effect of an exemption is that the foreign corporation or foreign trust in which the person has a controlling or substantial interest, will not have to pay the additional duty.
The Treasurer has a delegable power to determine applications for this exemption and has delegated the power to make this exemption decision to the Commissioner.  While this delegation is in force, the Treasurer no longer has the power to make exemption decisions. All applications for exemptions must be directed to the SRO.
If you wish to apply for an exemption, please submit an application before the completion of your transaction.
<h2>Notification requirements</h2>
If you are a purchaser or transferee of property in Victoria and you enter into a contract, transaction, agreement or arrangement on or after 1 July 2015, you must complete and lodge a purchaser statement with your other land transfer documents.
Failure to accurately identify as a foreign purchaser, or that residential property is being acquired, will attract penalties under the Taxation Administration Act 1997 (Vic) as well as the additional 3 percent duty.
For more information, <a href="https://www.sro.vic.gov.au" target="_blank">click here</a>.
 
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Property 101: Foreign purchases of property in Victoria from July 1 2016

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
For the second time in the space of ten days, it appears that betting markets and pollsters have got it wrong. First, despite odds showing a 90 percent likelihood of “Remain” winning, the UK voted to “Leave” the European Union in its June 23 referendum.
Now, a mammoth federal election campaign has resulted in political stalemate in Australia, and the result will not be known until Tuesday at the earliest.
Clearly, the repercussions of a hung parliament are not as wide-ranging as “Brexit” and we are unlikely to see Canberra’s streets flooded with protesters. However, when Australian markets open on Monday they will still be faced with a high degree of political uncertainty. Investors do not tend to react favourably to such ambiguity.
<h2>Investors reduce risk under political uncertainty</h2>
Investors tend to respond in one of two ways. The most-common situation is for the political uncertainty to manifest in higher levels of market volatility and a flight to quality as investors try to reduce their exposure to risk.
This was what we witnessed post-Brexit: Australian stockmarkets and the dollar fell by more than 3%, while “safe” government bond yields hit an all-time low.
An alternative is for markets to become locked in stasis – where investors sit on their hands, unsure as to whether they should buy or sell. Market liquidity falls and asset prices become resistant to change.
This is effectively what happened following the hung parliament of August 2010. In the aftermath of that election, stock prices remained within a tight trading range and the dollar hardly budged over the course of the following week.
When the result of the 2016 election is finally known, it appears that the outcome will be either a minority Coalition government or a hung parliament. The Senate is likely to be more fractious than prior to the election.
Talk has already started about potential unrest among the conservative faction of the Liberal Party who supported former prime minister Tony Abbott. There is even discussion of an election re-run if the parliament proves ungovernable. Clearly, this uncertainty could linger for months.
<h2>Concerns for jobs and growth</h2>
The likelihood of a lengthy period of uncertainty is important. It means it will be difficult to pass any economic or budgetary reforms. Without such reforms, it is unlikely the budget will return to surplus in the near future (if ever) and it becomes more likely that the AAA credit rating will be lost.
This creates multiple concerns for Australian financial markets, and the broader economy. A credit rating downgrade will likely increase the cost of funding for Australia’s banks.
The Big Four banks will be particularly impacted given the significant role that offshore funding plays in their balance sheet management. This will mean higher interest rates for borrowers – which would not be beneficial for the housing market.
A prolonged period of uncertainty will make it difficult for firms to finalise investment decisions. At a time when the economy is still attempting to transition away from the boom in mining investment this will dent economic growth and employment. So much for “jobs and growth”.
Essentially, this is a recipe for a “risk-off” environment of declining stockmarkets and a depreciating Australian dollar. It is also likely that the market will price a higher likelihood of a reduction in the RBA target rate at the July or August meeting. This will further aid a continued rally in relatively safe government bonds (bond prices rise as yields fall).
If you consider the ongoing political uncertainty resulting from Brexit and the forthcoming US presidential elections in addition to the federal election, then months of nervous markets may lay ahead.
Lee Smales is senior lecturer, Finance, Curtin University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/lee-smales-104586" target="_blank">here</a>.
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Hung parliament may lead to investor uncertainty

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I was reading a piece this week at MacroBusiness where it was pointed out that it has been 24 years since we went through the global recession.
Then eight years later we went into the Tech Wreck, then  eight years after that we hit the Global Financial Crisis (GFC) and now  eight years on we have hit Brexit – or as Australians will soon call it Bex – it (as it will probably cause some major headaches.)
Whilst Australia continues to post some very positive data, we need to pay closer attention to the data post June 30 as we now enter a period of uncertainty. Having said that, this should also be viewed as an exciting time as it is now clear that every eight years businesses need to adapt and recalibrate in order to survive.
One statistic we can’t hide from when the GFC hit in 2007 is that debt has grown much faster than GDP in every country. Some may say that this is an economic consequence as globally cash rates have been crashing down where in Australia we sit at a record low 1.75 per cent. Furthermore, many commentators are now stating that the cash rate in Australia will come down even more as a direct result of Brexit.
Whenever an economy reaches that financial standoff, and investors hate uncertainty, we need to be overly protective of investors as they are a particular and crucial economy driver. So there needs to be closer scrutiny as to why the ALP want to change the Negative Gearing goal posts, which will definitely drive up rents, and why the NSW Government wants to drive foreign investors from our property markets with their 4 per cent surcharge plus a 0.75 per cent land tax surcharge on residential real estate only.
Makes one seriously question exactly where governments expect the new buyers to evolve from? The real estate industry is hearing foreign investors are moving away from our markets in droves. Once again we need to be mindful of Brexit and life and results after June 30. Australia is now all but guaranteed that lending will now tighten, which is a good thing, however if we cast our minds back to the GFC we kept hearing two words – “green shoots”.
The sad part about emerging “green shoots” is that governments immediately see them as a new form of taxation – this in turn will bring about market stagnation which is the last thing our economy needs.
Having said that, existing property markets, otherwise known as the established household markets, are now 60 per cent down when compared to property listings two years ago. This is good news for established houses – we are now seeing record low listings which only strengthens the markets. For example, when I go back five years for Mosman houses you will see the pattern that has emerged.
<ul>
<li>30 June 2011 – 97 houses on the market in Mosman</li>
<li>30 June 2012 – 80 houses on the market in Mosman</li>
<li>30 June 2013 – 68 houses on the market in Mosman</li>
<li>30 June 2014 – 63 houses on the market in Mosman</li>
<li>30 June 2015 – 43 houses on the market in Mosman</li>
<li>30 June 2016 – 42 houses on the market in Mosman</li>
</ul>
What this tells us, and we should point out that these results are reflective across Sydney, is that since the GFC homeowners are taking advantage of record low cash rates by paying down debt faster. On the flip side they are renovating over selling as they see no economies of scale in donating a few hundred thousand dollars to our NSW Government in the form of Stamp Duty. In other words, the Stamp Duty component is then redirected to home renovations.
The NSW Government will recognise very quickly that it has a cash flow problem when the effect of the new surcharge stamp duty and the already declining established markets see the property market transactions coming to an abrupt halt. Don’t be surprised to see a total back-flip with the foreign buyer surcharges but not the land tax.
As for the established household markets the NSW Government should look at the amount of stamp duty previously paid on the past acquisition and give that household a 33 per cent deduction from the next stamp duty so long as that household has been in that property between five and ten years.
In business you offer incentives – it’s a shame governments struggle with the concept of that word.
<h5>MOSMAN – 2088</h5>
Number of houses on the market this time last year – 36
Number of houses on the market last week – 48
Number of houses on the market this week – 42
Number of apartments on the market this time last year – 33
Number of apartments on the market last week – 41
Number of apartments on the market this week – 33
<h5>CREMORNE – 2090</h5>
Number of houses on the market this time last year – 3
Number of houses on the market last week – 11
Number of houses on the market this week – 7
Number of apartments on the market this time last year – 16
Number of apartments on the market last week – 18
Number of apartments on the market this week – 17
<h5>NEUTRAL BAY – 2089</h5>
Number of houses on the market this time last year – 2
Number of houses on the market last week – 10
Number of houses on the market this week – 10
Number of apartments on the market this time last year – 39
Number of apartments on the market last week – 22
Number of apartments on the market this week – 23
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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robertsimeon-hRNTwJyXkQ

Time for governments to roll out incentives: Robert Simeon

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Having fun yet? Saturday's federal election has delivered a result that loosely tracks what all the polling was saying right up until July 2nd and now the waiting game - similar to the election back in 2010 - begins.

The Australian Electoral Commission (AEC) put out a media release on Sunday stating that counting will continue once postal and absentee votes are returned to the respective electorates. This is likely to occur on Tuesday (July 5).

On the face of it, if you only pay attention to the mainstream media TV news, the changing seats in Melbourne are either due to retiring members (Chisholm) or the state-focused issue of the Country Fire Authority (CFA) has allowed the Liberals to hold on to various outer suburban seats (La Trobe, Dunkley).

In seeking to provide decisive commentary in the vacuum of uncertainty, in my view, the CFA "reason" for the Australian Labor Party (ALP) not picking more seats up in Victoria seems to be at most overblown or at least not giving the much talked about Mediscare campaign proper credit.

Another perfectly good "reason" for the ALP swing not being at the same level as the national swing could quite possibly be the commentariat glossing over the swing from the ALP and the Liberal party to the Greens in inner Melbourne.

<h2>Is enough attention being paid to inner Melbourne?</h2>

The headlines and comment have thus far broadly focused on Labor versus Liberal contests underway on the fringes of the city; not much attention has been given to the Greens and how they're extracting more and more votes after having created the beachhead at the 2010 election.

Adam Bandt solidified his position as the member for Melbourne, obtaining an increase of 1% on the preliminary two-candidate preferred results on <a href="http://vtr.aec.gov.au/HouseDivisionPage-20499-228.htm">AEC's website</a>.

As I <a href="/expert-insights/buying/federal-election-aftermath-the-changing-face-of-melbournes-federal-electoral-map">wrote in the week before the election</a>, Wills, Batman and Higgins are seeing large amounts of development - and therefore population growth - and the new population moving into these areas is seeing more and more Greens voters.

The two seats north of Melbourne - Wills and Batman - have in both cases seen the primary votes for the Greens increase.

Wills 2013 result: ALP 40,931, Liberal 20,710, Greens 20,157. Wills 2016 results (at time of writing 70% of the vote was counted): ALP 28,346, Greens: 22,373, Liberal 16,015.

Batman 2013 result: ALP 36,798, Greens 23,522, Liberal 20,017. Batman 2016 results (at time of writing, 70.5% of the vote was counted): Greens 26,377, ALP 25,794, Liberal 13,593.

In 2013, Wills had 105,498 electors and three years later there were 113,856 on the electoral roll. Likewise in Batman in 2013 there were 103,246 on the electoral roll and at the election on Saturday, 108,942 people were registered to vote.

Assuming the next parliament runs for three years and similar population growth continues - which I believe is a highly likely case based on the development pipeline numbers - the election in these seats next time around are likely to be even closer and it's even more probable that at least one of those two seats goes Green (if one doesn't fall to them at this election).

<h2>Progressive state, increasingly a three party city</h2>

Much has been made of Victora's de facto progressive capital status among the regions of Australia. We have a Premier who actively trumpets his own and the state's progressive credentials, heavily through social media which is broadly backed up in the state government's legislative agenda.

At the state level, the Greens established beachheads on both sides of the river - in the seats of Melbourne and Prahran - in the most recent election and in the state seat of Brunswick, the Greens achieved the highest amount of first preference votes yet it was only Liberal Party preferences which got the ALP candidate - Jane Garret - over the line.

This crossover from state to federal electorates points to a very real shift underway.

This shift from the two big parties to the Greens in inner Melbourne gets a little bit of airtime every now and then however from this point on, it's my view that this state-specific competition like the marginals in Western Sydney and fickle flip-flopping Queenslanders, is and will be for the foreseeable future now Victoria's federal electoral topic du jour.

The development activity translating to population growth in the seven seats that share a boundary with the seat of Melbourne at the federal level would theoretically all be in play from this point on. Clearly, the Greens are focusing on only a handful of those seven seats at a time, but it's now having a measurable impact when you look at the knife-edge that Batman is sitting on.

Urban.com.au doesn't endorse political parties because all three parties that are competitive in Melbourne have something to bring to the greater urban agenda. Yet we hope the increased three-way competition in Melbourne will have a positive impact on urban policies and one area that requires work from all three political parties at the federal level is housing.
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Alastair Taylor

Federal election aftermath: the changing face of Melbourne's (federal) electoral map

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Abolishing the current negative gearing and capital gains rules could have a drastic impact on the property market, possibly flooding the market with property as investors transition to different financing models according to Sam Comer, senior manager of Tax Advisory for Crowe Horwath, part of Findex.
She said for property investors their election decision could largely be steered by the impact any new policy will have on their investments and retirement planning. 
"With property usually being purchased with much higher leverage than shares, a change in the ruling would have the most drastic impact on the property market, which has always been a strong backbone of the Australian economy and investment main stake for mums and dads investors.," she said.
 ‘If we are seeing the negative gearing ruling changed, I anticipate a strong shift toward SMSF [self managed super fund] investing, taking the already strong trend to a massive migration. I don’t thing the full flow-on effect a new ruling would have has even been contemplated.
 For those voters out there unsure of the potential impact their vote would have on their investment strategy, <a href="https://www.ratecity.com.au/" target="_blank">RateCity.com.au</a> has released an Election Calculator.
 According to statistics from <a href="https://www.ratecity.com.au/election-2016" target="_blank">RateCity’s Election Calculator</a>, in NSW  5 percent of people under 80k, 12.3 percent(of total) plan to neg gear,  34.6 percent between 80-180k, 20.4 percent plan to neg gear, and 10.3 percent over 180k, 6.6 plan to neg gear.   While in Victoria, 62.2 percent under 80k, 11.2 percent neg gear, 35.2 percent between 80 and 180, 18.8 percent to neg gear, 7.6 percent over 180k, 5.1 percent to neg gear, and in Queensland, 56.1 percent under 80k, 7.2 to neg gear, 35.3 percent between 80-180, 16.7 percent to neg gear, and 8.6 percent over 180, 5 percent to neg gear.   
According to the data, RateCity claim Labor should be further ahead than it currently is depicted at in news polls.
Business owner and interest home buyer Michael said he was very surprised by the result – he has always been an avid Liberal voter, but discovered that Labor might be more beneficial for him from a financial perspective. 
"I have voted Liberal all my life and hadn't thought much about how the way I voted impacted me financially. This is certainly something worth taking into consideration."
<a href="/images/2016/07/01/newspollcompare%201.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/01/newspollcompare%201.jpg" alt="">
 
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Negative gearing battleground underpins election decision for voters

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Fish are the most threatened group among Earth’s freshwater vertebrates. On average, freshwater fish populations have declined by 76 percent over the past 40 years. Damaged fish communities and declining fisheries characterise global freshwater environments, including those in Australia.
Fish migrate to complete their life cycles, but water-resource developments disrupt river connectivity and migrations, threatening biological diversity and fisheries.
Millions of dams, weirs and smaller barriers – for storage and irrigation, road and rail transport and hydropower schemes – block the migration of fish in rivers worldwide.
These barriers serve our needs for water supply, transport and energy. But, by obstructing fish migrations, they also degrade ecological integrity and reduce food security.
This is bad news for those who depend on fish for food. For example, in the Mekong River fish supply over 70% of the people’s animal protein, but catches are falling drastically following dam building.
In our paper published today in CSIRO’s Marine and Freshwater Research, we take stock of the impact these barriers have on our freshwater fish, most (perhaps all) of which migrate, and how we can help them.
<h2>Dam it all</h2>
There are countless barriers across Australia’s rivers. Roughly 10,000 barriers of all kinds obstruct flows in the Murray-Darling Basin. Flow is unobstructed in less than half of the basin’s watercourse length.
Native fish numbers in the basin’s rivers have declined by an estimated 90% through habitat fragmentation by barriers together with altered flows, overfishing, coldwater pollution and invasive species.
Similar problems also affect coastal river systems. One or more barriers obstruct 49% of rivers in southeast Australia.
Local species extinctions and loss of biodiversity have occurred nationwide in developed regions, especially upstream of large dams.
<h2>Overcoming barriers</h2>
One way to help fish overcome barriers is to build fishways (or “fish ladders”).
Fishways are designed to aid fish travelling upstream or downstream at high (dams, weirs) or low (road crossings, barrages) barriers. These are classed as “technical”, with hard-engineering designs, or “nature-like”, mimicking natural stream channels.
Recognition that dams threaten freshwater fish communities lagged well behind their construction. Nonetheless, European and American observations of declining fisheries for species moving from the sea to breed in rivers prompted early attempts in Australia to provide for fish passage.
The first Australian fishway was built near Sydney in 1913. By 1985, 52 had been built, but they adopted Northern Hemisphere designs for salmon and trout. These were unsuitable for Australian species, which rarely leap at barriers, and their flow velocities, turbulence and other aspects were excessive.
Seeing the failure of these fishways, New South Wales Fisheries sought advice in 1982 from George Eicher, an American expert, who advised on research to create designs for local species.
This led to expanding fishways research and construction in eastern states. The result was markedly improved performance, for example in the Murray-Darling’s Sea to Hume program.
<h2>Fishway performance</h2>
Our research shows that regrettably few Australian fishways have yet been shown to meet ideal ecological criteria for mitigating the impact of barriers. Furthermore, fishways are in place at relatively few sites.
In NSW, for example, only about 172 in total serve several thousand weirs and 123 dams. They can be expensive to build and operate, so costs retard mitigation at numerous important sites.
Fishways have seldom been built on dams (fewer than 3% of Australia’s 500 high dams have one); they have generally cost tens of millions of dollars; and most operate, with limited effectiveness, for less than 50% of the time. The need for much greater investment in innovation, research and development is pressing.
<h2>How to store water and also rehabilitate fish</h2>
To reduce the impact of dams on fish we need to look at resolving problems at river-basin scale; improving our management of barriers, environmental flows and water quality; removing barriers; and developing improved fishway designs.
One way to accelerate improvements nationally would be to pass legislation for routinely re-licensing waterway barriers at regular intervals. This would mean that older barriers are re-evaluated and upgraded or removed where necessary. Under the NSW Weir Removal Program, 14 redundant weirs have already been removed, with others under assessment.
We are developing an innovative pump fishway concept at UNSW Australia. It combines aquaculture fish-pumping methods for safe fish transfer with existing fishway technology.
We hope the project may help transform past practices through less-costly modular construction, adaptability to a wide range of barriers and improved effectiveness.
Better fishway developments will mean that we can store and supply much-needed water while also restoring fish migrations. This will be increasingly important as climate change reduces streamflows in many regions, and will help rehabilitate fish populations.
John Harris is adjunct associate professor, Centre for Ecosystem Science, UNSW Australia and can be contacted <a href="https://theconversation.com/profiles/john-harris-94224" target="_blank">here.</a>
Bill Peirson is adjunct, Water Research Laboratory, School of Civil and Environmental Engineering, UNSW Australia and can be contacted <a href="https://theconversation.com/profiles/bill-peirson-277095" target="_blank">here</a>.
Richard Kingsford is professor, School of Biological, Earth and Environmental Sciences, UNSW Australia and can be contacted <a href="https://theconversation.com/profiles/richard-kingsford-134" target="_blank">here</a>.
All are authors for The Conversation.
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Deadly eco-systems: We can have fish and dams

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<div class="cq-article-content-paras section">
National
New withholding regime applies to foreign resident vendors. For property transactions of $2 million-plus, purchaser must withhold 10 per cent of price unless vendor shows a clearance certificate from the ATO.
FIRB application fees will be indexed for CPI.
Victoria
Foreign buyers will pay 7 percent additional stamp duty on residential property, up from 3 per cent. 
The government has increased the variable rate for the Fire Services Property Levy (FSPL) on industrial property by 11 percent and commercial property by 6 percent. The variable rate for the FSPL on vacant land will rise 240 percent.
Queensland
First Home Buyers Grant to increase from $15,000 to $20,000.
Foreign investor changes do not come into effect until October 1.
NSW
Foreign buyers of residential property pay additional stamp duty of 4 percent on transactions from 21 June, 2016. Separate 0.75 percent land tax surcharge on residential real estate owned by foreigners starts in 2017 land tax year (January). Foreign investors no longer entitled to 12-month deferral for the payment of stamp duty for off-the-plan purchases of residential property. Foreigners lose tax-free threshold for land tax surcharge.
Mortgage duty abolished.
Duty on the transfer of business assets or a declaration of trust over "business assets" (other than land) will be abolished from July 1, 2016.  This will mean that when buying retirement villages, value will need to be apportioned between the land and business assets.
WA
No changes
SA
Stamp duty concessions of up to $15,500 apply for eligible purchases of off-the-plan apartments (effective from June 20, 2016).
Tasmania
Stamp duty removed from land or asset transfers as part of business reconstruction.
ACT
Commercial rates: Average increase of 7 percent in 2016-17 with a fixed charge of $2235.
Commercial stamp duty: Reductions from 1.8 percent to 1.48 per cent for transactions up to $200,000; between 3 percent and 2.5 percent for $200,00 to $300,000; and reductions from 5.17 percent to 5.09 percent above $1.455 million.
Fire and Emergency Services Levy: A valuation-based charge will apply for commercial properties with progressive marginal rating factors applied to the average of the 2014, 2015, and 2016 AUV values.
General Insurance Duty: To be abolished.
Land Tax: Fixed component will rise by $100 and land tax calculation for multi-unit dwellings will be based on total AUV value of the land rather than individual AUV of the unit.
NT
50 per cent stamp duty discount for first home buyers of established homes valued up to $450,000 and capped at $10,000 thereafter.  This took effect on May 24, 2016, and will continue until June 30, 2017.
<h3> </h3>
</div>
<div class="cq-article-content-paras section">
For more information, go to the Property Council of Australia website <a href="https://www.propertycouncil.com.au" target="_blank">here</a>.
</div>
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