Australian Politics Forum - Real estate agents to face prison sentences !

Sir lastnail

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Real estate agents to face prison sentences !
Nov 7^th, 2015 at 10:49am

About time the lid was lifted on this racket !!

Dob in a realestate scumbag ! It's judgement day for John Smith Cheesy

LOL

http://www.macrobusiness.com.au/2015/08/another-agent-to-add-to-atos-foreign-buy...

Quote:

Another agent to add to ATO’s foreign buyer hit list

By Leith van Onselen

Another day, another report of real estate agents deliberately flouting Australia’s foreign investment rules, which preclude non-residents from purchasing established homes. From The AFR:

Melbourne estate agents Hodges are using the lure of rising foreign buyer appetite to encourage residents in the south-eastern suburbs to think about putting their homes on the market.

A letter sent to a resident in Caulfield South and forwarded to the Australian Financial Review says that property prices in Caulfield are “booming” and that one of the reasons the market is so strong is “because there are many foreign buyers looking to purchase property in the Caulfield area”.

It goes on to say that Hodges Caulfield has hired a new agent (who speaks fluent Mandarin) to “work closely with buyers” and urges the resident, if they are considering selling to “contact us at your earliest convenience”…

Hodges Caulfield director Alex Flamm said it was not up to estate agents to verify whether foreign buyers were legally entitled to purchase existing property. “It’s up to solicitors and conveyancers to verify that”…

Actually Mr Flamm, under the new foreign investment regime, which comes into effect on 1 December 2015, “third parties that knowingly assist a foreign person to breach the Act” will face either:

Civil penalties: $45,000 for an individual or $225,000 for a company; or
Criminal penalties: Individual — 750 penalty units ($135,000) or 3 years imprisonment; Company — 3,750 penalty units ($675,000).

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Bobby. Gold Member Offline Australian Politics Posts: 111572 Melbourne Gender:	Re: Real estate agents to face prison sentences ! Reply #1 - Nov 7^th, 2015 at 10:53am Hi Sir Nail, the Chinese have already bought out Auckland & they are trying their best to buy up Sydney & Melbourne.
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Sir lastnail

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Re: Real estate agents to face prison sentences !
Reply #2 - Nov 7^th, 2015 at 10:56am

Bobby. wrote on Nov 7^th, 2015 at 10:53am:

Hi Sir Nail,

the Chinese have already bought out Auckland & they are trying their
best to buy up Sydney & Melbourne.

and push everyone else out to the sticks where there is no employment prospects and high unemployment !! Stupid hare-brained government immigration policies Sad

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innocentbystander.

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Re: Real estate agents to face prison sentences !
Reply #3 - Nov 7^th, 2015 at 11:09am

Sir lastnail wrote on Nov 7^th, 2015 at 10:56am:

Stupid hare-brained government immigration policies Sad

Are you willing to accept cuts to government spending so that the government no longer has to prop up the property ponzi scheme with the help of the chinese in order to bribe voters?, no of course you are not, not many people are, they would much rather just keep on living in a fantasy world.

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Sir lastnail

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Re: Real estate agents to face prison sentences !
Reply #4 - Nov 7^th, 2015 at 11:14am

innocentbystander. wrote on Nov 7^th, 2015 at 11:09am:

Sir lastnail wrote on Nov 7^th, 2015 at 10:56am:

Stupid hare-brained government immigration policies Sad

Are you willing to accept cuts to government spending so that the government no longer has to prop up the property ponzi scheme with the help of the chinese in order to bribe voters?, no of course you are not, not many people are, they would much rather just keep on living in a fantasy world.

You could easily cut government spending by making the public service more efficient and getting rid of the dead wood or making them take a pay cut !!

And fantasy world is selling off your land and property in a one off firesale thinking that this is going to sustain our current standard of living for years to come !!

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"All of the arab states have said we will have peace with Israel when there is a state of Palestine as a UN member state and properly constituted." - Jeffrey Sachs.

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lee Gold Member Offline Australian Politics Posts: 18852 Gender:	Re: Real estate agents to face prison sentences ! Reply #5 - Nov 7^th, 2015 at 11:16am Sir lastnail wrote on Nov 7^th, 2015 at 10:49am: “third parties that knowingly assist a foreign person to breach the Act” will face either: Can you show that has actually occurred?
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aussie100percent Gold Member Offline Australian Politics Posts: 565 Gender:	Re: Real estate agents to face prison sentences ! Reply #6 - Nov 7^th, 2015 at 11:24am lee wrote on Nov 7^th, 2015 at 11:16am: Sir lastnail wrote on Nov 7^th, 2015 at 10:49am: “third parties that knowingly assist a foreign person to breach the Act” will face either: Can you show that has actually occurred? Poor nail dreams up this shyte since Harvey Norman sacked his sad arse
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Sir lastnail

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Re: Real estate agents to face prison sentences !
Reply #7 - Nov 7^th, 2015 at 11:46am

lee wrote on Nov 7^th, 2015 at 11:16am:

Sir lastnail wrote on Nov 7^th, 2015 at 10:49am:

“third parties that knowingly assist a foreign person to breach the Act” will face either:

Can you show that has actually occurred?

read it properly !

Quote:

Actually Mr Flamm, under the new foreign investment regime, which comes into effect on 1 December 2015, “third parties that knowingly assist a foreign person to breach the Act” will face either:

Civil penalties: $45,000 for an individual or $225,000 for a company; or
Criminal penalties: Individual — 750 penalty units ($135,000) or 3 years imprisonment; Company — 3,750 penalty units ($675,000).

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"All of the arab states have said we will have peace with Israel when there is a state of Palestine as a UN member state and properly constituted." - Jeffrey Sachs.

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Sir lastnail

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Re: Real estate agents to face prison sentences !
Reply #8 - Nov 7^th, 2015 at 11:47am

aussie100percent wrote on Nov 7^th, 2015 at 11:24am:

lee wrote on Nov 7^th, 2015 at 11:16am:

Sir lastnail wrote on Nov 7^th, 2015 at 10:49am:

“third parties that knowingly assist a foreign person to breach the Act” will face either:

Can you show that has actually occurred?

Poor nail dreams up this shyte since Harvey Norman sacked his sad arse Grin

wouldn't be caught dead in a Hardly Normal store let alone behind one of his greasy counters. Which planet are you from mate Cheesy

LOL

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"All of the arab states have said we will have peace with Israel when there is a state of Palestine as a UN member state and properly constituted." - Jeffrey Sachs.

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lee Gold Member Offline Australian Politics Posts: 18852 Gender:	Re: Real estate agents to face prison sentences ! Reply #9 - Nov 7^th, 2015 at 11:48am Sir lastnail wrote on Nov 7^th, 2015 at 11:46am: read it properly ! Yeah, see the part about knowingly assist?
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Sir Grappler Truth Teller OAM Gold Member Online Australian Politics Posts: 87681 Always was always will be HOME Gender:	Re: Real estate agents to face prison sentences ! Reply #10 - Nov 7^th, 2015 at 11:49am Not before time....... being a real estate agent should carry a mandatory period of three months on obtaining licence....
Back to top	“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.” ― John Adams IP Logged

Sir lastnail

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Re: Real estate agents to face prison sentences !
Reply #11 - Nov 7^th, 2015 at 11:55am

lee wrote on Nov 7^th, 2015 at 11:48am:

Sir lastnail wrote on Nov 7^th, 2015 at 11:46am:

read it properly !

Yeah, see the part about knowingly assist?

Don't kid yourself. The old Seargant Schultz routine won't work anymore. Cheesy

LOL

http://www.nexia.com.au/news/tougher-foreign-investment-rules

Quote:

Furthermore, 3rd parties (e.g. real estate agents, migration agents, conveyancers and lawyers) who knowingly help foreign investors act in contravention of the rules, will also now be subject to civil and criminal penalties.

Doesn't leave much room for anyone else Wink

Quote:

5. Nowhere to hide: The ATO’s extensive use of data matching
The Government has provided $47.5m (over 4 years) to the ATO to assist with compliance (e.g. data matching) and enforcement of these foreign investment rules.

To this end, the ATO will require details of foreign investors that apply to the FIRB to purchase residential or agricultural land in Australia for the period 1 July 2010 to 30 June 201613.

This information will enable them to electronically match these documents to other data (e.g. tax returns, ASIC, land title offices, residential tenancy authorities and AUSTRAC) to identify non-compliance with registration, lodgement, reporting and payment obligations under taxation laws (e.g. rental income, CGT and GST).

How can Nexia Australia help you?

The ATO has started their compliance activities on possible breaches of Australia’s foreign investment rules.

It is therefore very important that if you are a foreign investor (or a real estate agent, migration agent, conveyancer or lawyer), you don’t fall foul of the foreign investment rules.

If you have breached the foreign investment rules pertaining to residential properties, we can help you to report this to the ATO before the end of the amnesty period of 30 November 2015.

Please contact your Nexia Advisor if you would like to know more about how the foreign investment rules may affect you.

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mariacostel

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Re: Real estate agents to face prison sentences !
Reply #12 - Nov 7^th, 2015 at 12:46pm

aussie100percent wrote on Nov 7^th, 2015 at 11:24am:

lee wrote on Nov 7^th, 2015 at 11:16am:

Sir lastnail wrote on Nov 7^th, 2015 at 10:49am:

“third parties that knowingly assist a foreign person to breach the Act” will face either:

Can you show that has actually occurred?

Poor nail dreams up this shyte since Harvey Norman sacked his sad arse Grin

That WOULD explain it. Nail is such a perennial crying baby.

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Alg-crying-baby-jpg.jpg (15 KB | 27 )

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Sir lastnail

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Re: Real estate agents to face prison sentences !
Reply #13 - Nov 7^th, 2015 at 12:53pm

mariacostel wrote on Nov 7^th, 2015 at 12:46pm:

aussie100percent wrote on Nov 7^th, 2015 at 11:24am:

lee wrote on Nov 7^th, 2015 at 11:16am:

Sir lastnail wrote on Nov 7^th, 2015 at 10:49am:

“third parties that knowingly assist a foreign person to breach the Act” will face either:

Can you show that has actually occurred?

Poor nail dreams up this shyte since Harvey Norman sacked his sad arse Grin

That WOULD explain it. Nail is such a perennial crying baby.

I'm only an amateur compared to old Gerry and his GST on online sales dummy spits Cheesy

LOL

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mariacostel

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Re: Real estate agents to face prison sentences !
Reply #14 - Nov 7^th, 2015 at 1:27pm

Sir lastnail wrote on Nov 7^th, 2015 at 12:53pm:

mariacostel wrote on Nov 7^th, 2015 at 12:46pm:

aussie100percent wrote on Nov 7^th, 2015 at 11:24am:

lee wrote on Nov 7^th, 2015 at 11:16am:

Sir lastnail wrote on Nov 7^th, 2015 at 10:49am:

“third parties that knowingly assist a foreign person to breach the Act” will face either:

Can you show that has actually occurred?