Conveyancing of Commercial Property for Not for Profits

by Andrew Lind on 6 February, 09

Andrew Lind

Andrew Lind

Real Property transactions for Not for Profit organisations (churches, schools, clubs and others) involve a consideration of a unique set of factors.

Our Brisbane Property Team, Conveyancing Paralegals and Not for Profit lawyers are dealing with these transactions on a daily basis. Ask how our Brisbane Lawyers can help your organisation.

Here are just a few of the issues that need careful consideration and advice.

For Not for Profit Buyers of Commercial Property

  • Structure – the right purchasing entity for control, asset protection and tax endorsements
  • Tax Endorsements – there are different tax concession endorsements required for institutions and trusts with different types of concessions available
  • GST – who needs to be registered for GST
  • Stamp Duty – whether the intended use of the Land will qualify for an exemption from Stamp Duty
  • Town planning and Council issues – whether a Change of Use Application is required

For Not for Profit Sellers of Commercial Property

  • Tax Endorsements – without the correct tax endorsement the sale could be subject to capital gains tax
  • Land Tax – consider exemptions and adjustments to the standard conditions
  • Exempt conditions – various exemptions may have required use for a period of time
  • Trust authorisations – what approvals must be obtains and how long will these take

All good reasons to get our Brisbane Property Lawyers and Conveyancing team involved early, well before you sign a contract.

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