It is a uniquely Australian dream, and perhaps even more specifically, a Victorian one: owning a primary home in the inner city, while maintaining a coastal retreat down the Great Ocean Road, the Mornington Peninsula, or the Bass Coast. Recently, a client presented a fascinating scenario: “We own a block of land in a coastal...
A surprising number of Victorian property owners still do not realise that Vacant Residential Land Tax (VRLT) carries its own compulsory notification regime. It is not just a tax that appears if the State Revenue Office happens to find you. If you own relevant vacant residential land, you may have to tell the SRO yourself,...
In the world of Victorian property law, three or four digits can be the difference between a routine tax assessment and a financial headache. Those digits make up the Australian Valuation Property Classification Code (AVPCC). While most owners focus on their property’s “Capital Improved Value” (CIV) or “Site Value” (SV), the AVPCC is the silent...
To protect our clients and the Australian financial system from financial crime, Hayton Kosky Lawyers complies with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. From Jul 01, 2026, new requirements apply to all legal services involving property transfers, high-value transactions, or the management of client funds. Please use this checklist to ensure your matter...
For many purchasers, the final inspection feels like the last step before settlement. Finance is in place, moving arrangements are underway, and the keys seem close. Then a problem appears. It may be a water stain, a faulty appliance, damage that was not obvious before, or a property that has not been properly cleaned or...
Entering into a mortgage guarantee is a profoundly serious legal commitment. Often required by lenders, a guarantee makes you, the guarantor, responsible for repaying a loan if the borrower fails to meet their obligations. It’s crucial to understand that this is not a secondary commitment. If the borrower defaults, the lender is typically entitled to...
Jumping into the property market as a first-home buyer is exciting, but the journey is often filled with hidden traps. A key pitfall is underestimating the financial reality beyond the deposit. Lenders will scrutinise your ‘serviceability’—your income’s ability to cover the loan—so failing to clean up other debts or not accurately assessing your income can...
For apartment buyers in Victoria, understanding the risks associated with external combustible cladding is crucial. While cladding provides insulation and weather resistance, certain types—specifically Aluminium Composite Panels (ACP) and Expanded Polystyrene (EPS)—are considered combustible and may significantly increase the rate at which fire spreads. It is important to know that a ban is in place...
Selling a property in Victoria with recent renovations requires more than just a fresh coat of paint. For owner-builders, Section 137B of the Building Act 1993 creates significant legal hurdles that both practitioners and clients must navigate carefully. What is the s137B Obligation? If a property is sold within six years and six months of...
For property investors and professional advisors in Victoria, the annual Land Tax assessment can feel less like a simple calculation and more like a journey through a complex, ever-shifting labyrinth. As a revenue-generating measure for the state, land tax is a critical, yet often misunderstood, component of property investment. Land Tax Navigator – Land Tax...
