Retirement Villages Act 1986

Despite the commencement of section 34 of the Retirement Villages Amendment Act 2025, Divisions 2 and 4 of Part 5B do not apply to applicable contracts.

Subject to subsection (3), on and from the commencement of section 34 of the Retirement Villages Amendment Act 2025, Division 3 of Part 5B applies to the valuation of premises occupied under an applicable residence contract or to the valuation of an applicable residence right as if—

the definitions of capital gain and capital loss in section 3B did not apply and the terms were instead given their ordinary meaning; and

in that Division, a reference to—

the payment of an exit entitlement were a reference to the refund of all or part of a refundable in-going contribution within the meaning of section 3 of the old Act; and

an owner resident were a reference to an owner resident within the meaning of section 3 of the old Act; and

a non-owner resident were a reference to a non-owner resident within the meaning of section 3 of the old Act; and

a right to occupy premises were a reference to an applicable residence right; and

the note to section 32L(3) were repealed.

Despite the commencement of section 34 of the Retirement Villages Amendment Act 2025, Division 3 of Part 5B does not apply to the valuation of premises occupied under an applicable residence contract that includes the clauses set out in Schedule 3 or 4 to the Retirement Villages (Contractual Arrangements) Regulations 2017 as in force before that commencement.