Common use of TERMS CONTRACT Clause in Contracts

TERMS CONTRACT. (general condition 30) If this contract is intended to be a terms contract within the meaning of the Sale of Land Act 1962 then add the words ‘terms contract’ in this box and refer to general condition 30 and add any further provisions by way of special conditions. LOAN (general condition 20) This contract is subject to a loan being approved and the following details apply if the box is checked ☐ Lender: Loan Amount: Approval date: BUILDING REPORT General Condition 21 applies only if the box is checked ☐ PEST REPORT General Condition 22 applies only if the box is checked ☐ SPECIAL CONDITIONS This contract does not include any special conditions unless the words ‘special conditions’ appear in this box. Special Conditions GST WITHHOLDING (general condition 25) For the Purposes of section 14-255 of Schedule 1 to the Taxation Administration Act 1953 (Cth): We confirm our client is not registered or required to be registered for GST purposes. The Purchaser is not required to make a payment under 14-250 of Schedule 1 to the Taxation Administration Act 1953 (Cth) in relation to the supply. ✓ This box is ticked if the Purchaser is required to make a GST Withholding Payment as the Vendor is making a taxable supply that is a supply of potential residential land and the Purchaser is not registered for GST or does not acquire the Property for a creditable purpose. If the box is ticked, the Vendor provides the GST Withholding Notice set out below. Where there are multiple Purchasers, the GST Withholding Payment Notice is taken to have been provided to each Purchaser separately. ☐ GST WITHHOLDING NOTICE Name: Australian Business Number (ABN): GST Withholding Amount: (The price multiplied by the GST Withholding Rate) $ If there are multiple Purchasers who are purchasing the Property as tenants-in-common, each is deemed to be the recipient of a separate proportional supply and is required to pay a proportional amount of $ based on their interest set out in the Particulars. The GST Withholding Amount must be paid on: The Settlement Date as required under General Condition 25. Any other matters as specified in the regulations: Not Applicable