• Client Reviews

    Great communication, really easy to deal with and conducts himself with absolute integrity at all times.

    Robyn Wilson
  • Client Reviews

    From start to finish Wayne and Anna acted in a very professional manner. They communicated with me well and were extremely efficient in performing their tasks in order to sell my house. I was so happy with their performance that I have now entrusted them with the sale of my family inheritance.

    Jane McBarron
  • Client Reviews

    Wayne is very hard working communicator with a superb knowledge of the market including pricing

    Wayne Tait
  • Client Reviews

    Smoothest purchase possible!

    Everything was easy and the whole process went through without a hitch.

    Grant F
  • Client Reviews

    Wayne is just so different. 
    After waiting for the biggest Gold Coast operator for seven frustrating months, I had no great hope that transferring to Wisdom Realty would be any better. How wrong I was! Wayne is as different from the usual estate agents as it is possible to be. Despite an almost total credit squeeze by the major banks, Wayne managed to turn up a buyer within a few weeks. Since I had almost run out of both patience and money with agents who never lift a phone, Wayne has been a revelation. He's a mate now.
     

    Peter Finlayson
  • Client Reviews

    Wayne was recommended by another estate agent and I was extremely happy from start to finish. Very honest and communication was fabulous as he was always happy to receive a call and very prompt in getting back to me. I believe if you want a quick solid sale Wayne is the one to call. My home sold within 3 days and settled 30 days later so it doesn't get much better. Thanks again Wayne for your guidance and help.

    Suzie Cook
  • Client Reviews

     

    very professional service with excellent communication throughout

    Excellent from start to finish

    Lindsay Cook
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  • New Laws for Queensland
    21 October 2016

    Property owners and landlords have a duty of care and are required to ensure that their homes and tenants are safe. Smoke alarm compliance is a large component of safety and it is much more than just pushing a button to test the beep and changing the battery. This is especially true following the legislation change passed in Queensland Parliament on the 31st of August, 2016, for domestic dwellings.

     

    What does the legislation change mean for our landlords?
    From 01 January 2017, any smoke alarm being replaced must be replaced with a photoelectric alarm that complies with the Australian Standard (AS) 3786. The same applies to any smoke alarm that was manufactured more than ten years ago or found to be faulty.
    New dwellings or dwellings undergoing substantial renovation, where application is made from this date, will meet the new compliance laws as part of the approval process. Substantial renovation includes planned or infrequent home renovations over a three- year period to 50% of the dwelling.

    Furthermore, the changes require that smoke alarms be installed and located as prescribed in the Building Fire Safety Regulation 2008 for existing domestic dwellings and Building Regulation 2006 for new dwellings.

    From 01 January 2022, domestic dwellings must meet the new legislation requirements for:

    • existing residential rental properties where a new tenancy agreement is entered into or renewed, as well as for ongoing periodic agreements.
    • existing residential properties where a Contract of Sale is entered into.?

    From 01 January 2027, owner-occupied homes must meet the new legislation requirements.

     

    New legislation main requirements
    Smoke alarms must be photoelectric and comply with the Australian Standard (AS) 3786.

    All domestic dwellings must be fitted with interconnected photoelectric type smoke alarms, which are hard-wired and fitted with a battery back-up power supply. Where this is not possible, photoelectric alarms that connect wirelessly and run on a non-removable 10-year lithium battery, can be installed.

    Landlords who choose to maintain their own smoke alarms are encouraged to check with Queensland Government, to ascertain the detailed requirements to meet legislation.

    Ref: PTA

  • Reserve Bank leaves official cash rate on hold in October
    04 October 2016
    • RBA leaves rates unchanged again
       
    • Latest economic data remains mixed  
       
    • Further rate cut this year now unlikely   
       
    • Resurgence of house price growth 

    The Reserve Bank has decided to again leave official interest rates on hold over October at the record low 1.5 per cent set over August. The Bank will continue to take a wait and see approach and assess the impact on the economy of the recent cuts to determine if further cuts are required.

    Latest economic data remains mixed and largely directionless with the Bank awaiting the September quarter inflation rate data due to be released by the ABS on October 26.

    Although the national seasonally-adjusted jobless rate fell to a new three-year low of 5.6 per cent over August, the economy is still shedding full-time workers with recent growth restricted to part-time work.

    Home building approvals remain robust despite recent signs that the peak of the residential planned construction boom may have passed.

    Recent retail sales activity however is relatively flat and the dollar is still higher than desirable although the sharemarket appears to be consolidating recent gains.

    The Bank however will be increasingly alert to a resurgence in house prices growth generated by lower mortgage rates. The Domain Group is reporting strong growth in asking prices over the September quarter in both the Sydney and Melbourne markets and reflects high and rising auction clearance rates in those cities over the past month.     

    With concerns over a resurgence in house prices, an overall steady if benign economic performance and dependant on reasonable inflation rate outcomes, the Reserve Bank is now likely to leave official rates on hold until next year.

     

    Credit : Dr Andrew Wilson is Domain Group Chief Economist

  • FOREIGN RESIDENT CAPITAL GAINS WITHHOLDING REGIME - WILL IT AFFECT YOU?
    28 September 2016

    Regardless of whether you are a foreign person or an Australian resident, the new withholding tax legislation ('tax legislation') may affect you if you are involved in a transaction relating to the sale or purchase of Australian real property, with a purchase price of more than $2 Million. 

    There are also several other methods of the disposal of real property which can trigger the tax legislation including transferring/acquisition of leases, exercise of options, acquiring interest in Australian entities where real property or interests are the major assets.  These areas are not without their complexity and will not be canvassed in this article.

    Subject to some exceptions (which will be detailed further below), if a contract is formed wherein real property being sold achieves a sale price of more than $2 Million, then either:

    • Prior to settlement of the matter, the Vendor must provide the Purchaser with a clearance certificate or variation certificate issued by the Australian Tax Office (ATO) which is current at the time it is given to the Purchaser; or

    • If the Purchaser has not received a current clearance certificate or variation certificate issued by the ATO from the Vendor prior to the settlement, then, generally:

    • The Purchaser is required to withhold the sum equivalent to 10% of the purchase price of the property including any adjustments made to that amount (however the calculation of this amount can become somewhat complex if the contract includes GST or whether it is an arm’s length transaction – legal advice should be sought in relation to individual transactions); and

    • Pay the withheld amount directly to the ATO.

    The payment of the withheld amount discharges the liability (including penalties and interest charges) which the Purchaser may have had in relation to the specific transaction under this legislation.

    The Purchaser is not required to withhold any funds if the Vendor has complied with the obligation to provide a current clearance or variation certificate to the Purchaser prior to settlement.

    If the Vendor fails to comply with the above requirement, they cannot refuse to settle on the basis of the Purchaser deducting withholding tax from the balance of the purchase price at settlement.

    This legislation is new, and has not been used widely in practice.  It is also significantly complex, and each individual contract will turn on its own facts.

    Reference: Affinity Lawyers 

  • THE LAW SCRAMBLES TO CATCH UP - WHAT IS THE POSITION ON DRONE USAGE
    28 September 2016

    Drones have been gathering momentum and their use in day-to-day society is only increasing as time goes on.  Of course, with the rapid rise in popularity in these devices, legislation relating to privacy issues has not had time to ‘catch-up’ and accordingly, we are seeing many cases where people don’t know where they stand in relation to:

    a)      Using their drones legally; or

    b)      Objecting to someone else’s use of a drone.

    Drones of a significant weight (more than 2 kg) are required to be registered with the Civil Aviation Safety Authority and their pilots must hold an operators certificate.  However, smaller drones (which are now widely available in retailers throughout Australia) are not subject to any specific legislative provisions, provided that they are flown below 121m, are used away from crowds/restricted areas and are not flown at night or in cloudy/dangerous conditions.

    As it presently stands, the Privacy Act has a threshold requirement of $3M annual turnover in order to be applicable, which will likely not be of assistance to those members of the public seeking redress against a drone owner.  Likewise, State surveillance laws are inconsistent and outdated in relation to the use of personal drones and it is expected to be sometime before they are revised and amended to capture drone usage.

    Understandably, it would be frustrating if someone was using their drone to hover over your property, take unsolicited photo/video/audio footage or be used for any other purpose which is intended to intrude on one’s privacy.  In those circumstances, one may be able to commence an action under relevant legislation pertaining to stalking and/or domestic violence.

    Reference : Affinity Lawyers