Queensland Law Society

REIQ contracts update – comparison tables available

Last week’s QLS Update notified members that the REIQ contracts are being updated as a result of the Commonwealth Government’s foreign resident CGT withholding framework. QLS and the Real Estate Institute of Queensland have prepared amendments to four of the standard contracts to reflect the new tax withholding regime.

Comparison tables summarising the contract amendments are now available:

  1. Residential House & Land (11th edition v 12th edition)
  2. Residential Lots in a Community Titles Scheme (7th edition v 8th edition
  3. Commercial Land & Buildings (4th edition v 5th edition)
  4. Commercial Lots in a Community Titles Scheme (3rd edition v 4th edition)

QLS is preparing updated contract forms for release and members will be advised as soon as these documents are available.