PRET Australia in Logan Central, Queensland, Australia | Public & government service

PRET Australia

Locality: Logan Central, Queensland, Australia

Phone: +61 7 3878 8513

Address: 37 Wembley Road 4114 Logan Central, QLD, Australia

Website: http://www.pret.com.au

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20.01.2022 Foreign residents capital gains withholding tax. - effective 1 July 2017. ADL Forms has released an update on the effect of the new legislation on real estate agents. A prominent item (Capital Gains Withholding Payment) has been included in the Selling Agency Agreements to assist real estate agents in reminding the vendor that they will need to provide a clearance certificate from the ATO where the sale price of their property exceeds $750,000. The have also provided the link to the ATO to enable vendors to apply for a clearance certificate. Usually, the capital gains tax issue will be handled by the solicitors for the respective parties. For the full release follow the link http://bit.ly/2sbilBl

15.01.2022 Oxley's Real Estate class this week. Good luck to all our graduates!

13.01.2022 Capital Gains Tax - comments from Dean Brown Solicitor at Pinder consulting see http://bit.ly/2sGOGLA For the purpose of this legislation everybody is regarded as a foreign resident unless they can provide a clearance certificate; it can take up to 28 days to obtain a clearance certificate; and everybody on the title needs to separately apply for the certificate.... So while it is not a real estate agents function to obtain a certificate or to ensure that it is provided to the purchaser, I believe it would be prudent for real estate agents to advise the Seller of the requirement for them to obtain a certificate at the point of listing. For example, if there is a delay in obtaining the certificate it may delay settlement if the Seller is not a foreign resident but has not yet received a clearance certificate, as they are probably not likely to want to see 12.5% of their money go to the ATO and have to go through the process of getting it back.

10.01.2022 The current Cert IV in Property Services, which covers the registration and license course, is in teach out. This means that we cannot issue certificates for this course from March 2020. No new Cert IV students will be signed into traineeships as of today and Sharon will work with existing trainees to make sure they complete in time. We are running Saturday classes to help people get through.... The new qualification has been released and Sharon and I are writing subjects but OFT has not released which subjects are to be used for registration or licensing courses. Once they do, we will be offering the new course. For anyone who has the current registration course and wants to upgrade to a full license, now is the time. Once the new course is in, your registration subjects will be able to be used to help you get RPLs but you will have more assessment to do. The new course does not have direct cross credits from the old course, at least not for the subjects we have seen so far. Contacting PRET Australia We apologise if you have been unable to contact us over the past few months. Since being forced onto the NBN (connection date 28 February 2019) we have been having problems with our communications including telephone, email and internet services. If you experience difficulties contacting us on our office telephone numbers, please email [email protected] or phone Jade on 0408 712 291. We thank you for your past and continuing support. Regards, Jade Harley Training and Marketing Manager | PRET Australia P: 07 3878 8513 | M: 0408 712 291 | W: www.pret.com.au RTO No: 31303

08.01.2022 Property Sales - proposed changes to Foreign resident capital gains withholding tax rules to affect more agents The federal government's proposed changes will see the sale price threshold for the application of withholding tax reduced from $2,000,000 to $750,000 and the tax rate increased from 10% to 12.5%. Where it is estimated that the sale price will exceed $750,000 the vendor must get a clearance certificate from the ATO.... If a clearance certificate is not obtained before settlement the purchaser or their solicitor must withhold 12.5% of the purchase price and remit it to the ATO. The proposed legislation is due to come into effect on the 1 July 2017 and ADL Forms will update their forms to be ready on that date (assuming the legislation is passed). For further information go to http://bit.ly/269IE5Z

07.01.2022 Last class for the Registration Salesperson course at Logan Central in Mandarin! December: 5th - 7th Logan Central If you're interested, call us on 07 3878 8513 or email us at [email protected] for more information!

04.01.2022 Management Rights Information Course hosted by PRET Australia and ARAMA - 1 August 2017 - click on http://bit.ly/2qReeWE to book now or call Sharon on 07 3878 8513