2017 Budget Change

The change to tax depreciation on the 9th of May 2017, known as the “2017 Budget Change,” primarily affected depreciation deductions for residential property investors in Australia. the 2017 Budget Change restricted the ability of residential property investors to claim depreciation on second-hand assets, emphasizing that they must be the original purchasers of these assets …

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Building Bond

When a developer applies for an occupation certificate for a new strata building or a substantial renovation, they are required to lodge a building bond with the NSW Fair Trading. The bond is typically set at 2% of the contract price for the building work. This bond is held in trust to cover the cost …

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Building Code Compliance

Ensuring the construction project adheres to local and national building codes and regulations.

Building Information Certificate (BIC)

A certificate issued under the Environmental Planning and Assessment Act 1979 (EP&A Act) that confirms that building work complies with relevant development consents and other legislative requirements.

Certificate of Occupancy (CO)

A document issued by authorities indicating that the construction project complies with building codes and is suitable for occupancy. In the Australian building industry, the terms “Occupation Certificate” (OC) and “Certificate of Occupation” (CO) are often used interchangeably, but they typically refer to the same document. both the Occupation Certificate (OC) and Certificate of Occupation …

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Code Compliance

Ensuring that construction activities and outcomes align with local building codes and regulations.

Compliance Certificate

A document issued by a qualified certifier or authority, confirming that building work has been completed in compliance with applicable regulations and approvals.

Complying Development Certificate (CDC)

A Complying Development Certificate (CDC) is a type of development approval in Australia that allows for a streamlined and faster approval process for certain low-impact and straightforward development projects. CDCs are typically issued by local councils or accredited private certifiers. To obtain a CDC, a proposed development must meet specific predetermined criteria and comply with …

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Development Contributions

Fees or contributions required by local councils in Australia from developers to fund infrastructure and community services.

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