STATE laws requiring retirement village owners to buy back freehold land they do not own have been blamed for the collapse of a Tin Can Bay retirement village into liquidation.
The operators of Cooloola Waters Retirement Village have pointed to the legislation as a key factor in the company winding up last month, aged care publication Inside Ageing has revealed.
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Housing Minister Mick de Brenni has defended the legislation as one that protects both parties.
The Cooloola Waters Retirement Resort went into liquidation last month.
However, the retirement industrys peak body, Retirement Living, claimed the laws were creating problems.
The 18-month time frame allows no flexibility and has now caused that operator who …
Read the full article at: https://www.gympietimes.com.au/news/collapsed-gympie-region-company-blames-flawed-stat/4052391/
