Newsletter
Transferring Property Between Family Members – Key Considerations
Transferring property between family members is a common practice, often driven by a desire to facilitate inheritance, support loved ones, or streamline estate planning. While the intention behind such transfers is usually rooted in familial bonds, navigating the...
New Victorian Land Tax Laws
Land Tax no longer adjustable The proposed amendments to the Sale of Land Act 1962, Property Law Act 1958 and Windfall Gains Tax Act 2021 prohibit settlement adjustments for land tax or an existing WGT liability between a vendor and purchaser in all contracts for the...
Business Owners.. Are You Paying Attention?
This month I am talking about running your business. Do you have a credit contract? Do you have terms and conditions when you sell product? Do you use the PPSR to protect your business goods? Lastly do you have the ABN for the businesses you are doing business...
Employment Law
Victorian Crime Statistics Agency recorded 88,214 ‘family incidents’ in 2019–20 and a massive cost is born by government, individuals and their families and the community at large. Did you also know that earlier this year, changes to legislation were made to cover...
Victoria 2 Lot Subdivisions
Last month I gave a snapshot into NSW 2 lot subdivisions. This month we do Victoria. Two lot subdivisions are exempt from many of the legal requirements placed on larger owners’ corporations “OC’s”. For example: If your OC has two lots, you do not have to: Take out...
We’re still friends, why do we need a ‘legal’ property settlement?
Many couples separate on good terms, which is great. The breakdown of a relationship can be difficult, however putting differences aside to move forward can be beneficial, particularly where children are concerned. Ex-partners who remain on good terms may choose to...
FAQ on Estate Planning
While many people are unlikely to nominate estate planning aka “Thinking about what will happen to my assets when I die” as being on their “most wanted things to do” list in reality, this is something that should be on all our “must do” lists. Proactively planning for...
NSW 2 Lot Subdivisions
Did you know that in NSW a 2 lot subdivision is required to keep clear records, hold an AGM each year and report within 3 months of the AGM to Fair Trading and if you don’t you will get a please explain letter. In Victoria a 2 lot does not need to do anything BUT I...
Buying Property with Someone Else – Considerations for Property Co-owners
Buying a property with someone else is a great way to share the fun, stress, and cost of the venture. Often people buy a house with their significant other, to make a home or invest together. Others buy property with friends, relatives or business partners. Joining...
Caveats
How many of you know what is a caveat and what does it do. The good definition of a caveat is that it is an instrument when lodged at the titles office that can prohibit any person dealing with the land in question. Most times a caveat is used to protect a purchaser...