It is now close to a year since the Queensland government passed amendments to the Retirement Villages Act. Most of the reforms introduced as part of those changes are yet to come into effect creating an element of uncertainty for the industry.
A key part of the reforms are the longer awaited changes to the PID. The proposal is to effectively replace it with the Village Comparison Document and Prospective Costs Document. Earlier this year the Department of Housing and Public Works published a time table for implementation of the new forms and it can be accessed here.
Despite the time table aiming to have the new forms implemented by October, the latest advice from the Department is that they will not be available until January 2019.