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COMPULSORY ACQUISITION OF LAND
COMPENSATION CLAIMS When land is compulsorily acquired, you are entitled to claim compensation if you have an ‘interest’ in the land.[1] An interest in relation to land means a legal or equitable estate in the land, a right, power or privilege over the land.[2] An interest in the land is extinguished and is converted into…
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GST Implication on Court Orders and Out of Court Settlements
In 2001, the Australian Taxation Office came out with a ruling GSTR 2001/4 on the consequences of Goods & Services Tax (GST Ruling) on the court orders and out of court settlements. The GST Ruling has examined the concept of ‘supply’ and the ‘nexus’ that must exist between the payment and supply in order to…
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Land resumption in Qld
Have you received a Notice of Intention to Resume land in Queensland? Getting a notice of intention to resume (NIR) your land from a government authority can be a very stressful event for a land owner. A land owner is entitled to be paid fair compensation for their loss suffered because of the land resumption…
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