Intervention Orders In VIC
An individual (the applicant) (or police department but today we only talk about the individual application) may apply for an intervention order in the Magistrates Court of Victoria which places legal restrictions upon another individual (the respondent) and prohibits the respondent from engaging in
Preparation of Contract for the Sale and Purchase of Land in New South Wales
A contract for the sale and purchase of land (Contract) comprises three sections: The first being the substantive contract, usually the standard contract drafted by the Law Society of New South Wales and the Real Estate Institute of New South Wales, containing general conditions; the second being th
New FIRB Approval Requirements Pausing Foreign Investment in Australia
IntroductionThe Treasury has announced that the monetary threshold for foreign investment requiring approval from the Foreign Investment Review Board (FIRB) will be lowered to $0 from 10:30pm on 29 March 2020. The change will mean that all applicable foreign investment actions, no matter their
Changes to CGT Main Residence Exemption
A capital gain or capital loss on an asset is the difference between what it cost you and what you receive when you dispose of it. Capital Gain Tax (CGT) is the tax on the capital gain you make when you sell a capital asset, for example real estate, which usually will significantly increase the tax
Binding Financial Agreements
BINDING FINANCIAL AGREEMENTSAlso known as prenuptial agreements, binding financial agreements (BFA) set out how the parties to a marriage or defacto partnership wish to deal with their property or financial resources in the event of separation or divorce. Parties can entered into a BFA b
Risk Management for Purchase of Property
IntroductionAustralia’s bushfire has lasted more than a hundred days this season, and by the time this article publishes, there are still numerous patches of wildfires in the state of New South Wales that were ranked by the NSW Rural Fire Service as “uncontrollable”.It happens so often that
A Brief Introduction to Legal Fees: The Difference between Trust Account and Office Account
Clients who may be new to legal services may have queries as to the difference between our trust account and office account. What is the difference between these two accounts? When are they used? This article intends to provide an answer to these questions.A first and foremost point to make is
Off-the-plan contract new requirements – NSW government focusing on developer
Background In about 2015, the NSW government has implemented new laws regarding the sunset clause requiring developers shall obtain an order from the Supreme Court before ending contract after the sunset date, because some unfaithful developer unreasonably extended its construction/development perio
Amend Trust Deed by End of 2019 to Refund Surcharge Duties and Taxes from Purchasing NSW Residential Properties
Amend Trust Deed by End of 2019 to Refund Surcharge Duties and Taxes from Purchasing NSW Residential PropertiesIt is well known that in New South Wales, foreign persons purchasing residential land are liable to surcharge stamp duty (8%) and surcharge land tax (2%).Lots of family trusts (
Global Talent Independent Program (GTIP)
Global Talent Independent Program (GTIP)The ‘Global Talent Independent Program’ was launched by Minister for Immigration, Citizenship, Migrant Services and Multicultural Affairs. The program aims to lure up to 5000 high-income earners working “at the top of their field” to Australia in ord