Whether your inheritance will be counted in the divorce assets to be split depends on each case. There is no “one rule for all cases“. Where the inheritance has already been received these are some relevant factors taken into account in a divorce case: Time since the inheritance – If a long time has passed between …
Conveyancing Property Tax
31 July 2017
Property over $750 000 needs ATO clearance certificate to avoid 12.5% tax
All vendors selling property over $750,000 are required to obtain an ATO Clearance Certificate These new changes will apply to contracts entered into on or after 1 July 2017. What are the upcoming changes? From July 1, the FRCGW withholding tax rate increases to 12.5% from 10%. This applies to properties where the purchase price is $750,000 and above, where it …
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Conveyancing Property
12 July 2017
Regional Victoria buyers: first home owners grant advantages
The Victorian Government announced that it intends to increase the First Home Owner Grant (FHOG) from $10,000 to $20,000 for new homes built in regional Victoria and valued up to $750,000. This will apply for contracts signed from 1 July 2017 to 30 June 2020. Eligible first-home buyers of new homes in metropolitan Melbourne will continue …
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Conveyancing Property
9 July 2017
Amendments to the Sale of Land Act 2016 and the Property Law Act 1958
The Consumer Acts and Other Acts Amendment Act 2016 No 23 (Vic) was assented to on 10 May 2016. This act updates both the Sale of Land Act 1962 and the Property Law Act 1958 to amend anomalies in these Acts. These amendments will come into effect on 1 June 2016. Sections 29W(1), (2), (3) …
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Leases Property
10 May 2016
6 questions you should ask about shopping centre leases
Are you entering into a shopping centre lease? Here are some critical questions to consider: What will be my level of competition in the shopping centre? Larger centres often have an over-supply of similar businesses. An accurate picture of your level of competition is necessary for survival. Is there clear identification of the space I’m …
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Asset Protection Bankruptcy Company Contact Contract Law Debt Recovery Joint Venture Personal Securities Property Refinancing
9 May 2016
Risks and legalities of lending money
You are not a bank but you decide to lend someone money….. There are a lot of families I see where they have lent a considerable amount of money to their adult working children with the expectation that it will be paid back, but there is nothing actual concrete to ensure it happens. The accountability …
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Contract Law Conveyancing Property Refinancing Transfer of Land
9 May 2016
What is Pexa electronic conveyancing?
PEXA is electronic conveyancing platform for use by conveyancers, lawyers, banks, purchasers and sellers of property. It replaces the traditional face to face conveyancing settlements. Apart from arranging settlements of purchases and sales, conveyancers and lawyers are now also able to lodge caveats using PEXA. The lodgement of the caveat is lodged directly on title in …
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Asset Protection Contract Law Conveyancing Property
9 May 2016
Changes to property law – verification of identity now required
Recently changes were made to the law regarding identification requirements for entering into land transactions. These changes were designed to prevent fraud on titles and other financial transactions. This is especially important now that conveyancing can be done electronically. “Verification of Identity” is now required for any land transaction. If you’re buying, selling or transferring property, …
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Asset Protection Contract Law Court Family Law Family Trusts Prenups Property Separation
19 October 2015
Binding financial agreements and prenups explained
A binding financial agreement or prenup as the casual term, is an written agreement between two parties setting out the assets, liabilities, property and other financial information of how it will be divided should there be a relationship breakdown. Binding financial agreements can be made before, during or after a marriage or de-facto relationship. Lets …
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Associations Company Joint Venture Partnership Personal Securities Property
27 May 2015
Should I start a company?
Why incorporate? Main advantages: Incorporation protects board members from most instances of personal liability by creating a separate legal entity. The company instead of the individual can enter contracts, hold assets and can sue or be sued. Basic principles of the entity and its operations are outlined and enforced. A variety of regulations and guidelines …
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