Articles
PRIORITY NOTICES
What is a Priority Notice? A Priority Notice records the priority of an anticipated transaction on title, including the order in which it is to be lodged. Why lodge a Priority Notice? Whether purchasing, selling or transferring property the registration of a Priority...
THE RISKS IN ACCEPTING A 5% DEPOSIT
In todays’ property market it is has become quite common for purchasers to request the payment of a 5% deposit in lieu of a 10% deposit, which can at times be out of reach with today's high property prices. If agreed, the contract for the sale and purchase of land...
Social Media as Evidence in Court Proceedings
It is becoming the 'bread-and-butter' in Family Court proceedings that parties use print outs of text messages, emails and social media posts in their Affidavits. One judge recently said in Court, "It never ceases to astound me how many litigants in [the Family Court...
THE MARGIN SCHEME – HOW DOES IT WORK
The margin scheme is an alternative way of calculating the GST payable when a seller sells a property as part of a business. The Margin Scheme can only be applied if the sale is a taxable supply. The amount of GST payable on property sales is generally one-eleventh of...
Franchisor fined $2.6 million for breach of Franchising Code of Conduct and Australian Consumer Law
On Friday 18 January 2019, the Federal Court of Australia imposed a $2,604,000 penalty against Ultra Tune Australia Pty Ltd (“Ultra Tune”) for breaching both the Franchising Code of Conduct (“Franchising Code”) and the Australian Consumer Law. The Court found on...
Are pharmacy regulators ‘cracking down’ on unregistered financial interests?
It has come to our attention that the Pharmacy Council of New South Wales (Council) is deferring consideration of applications for approval of change of ownership of pharmacies in certain circumstances. The Council is apparently taking the view that receipt and...
REQUISITIONS ON TITLE EXPLAINED
REQUISITIONS ON TITLE EXPLAINED Requisitions on title are essentially questions relating to the sale of a property drawn up by lawyers. During the conveyancing process, and within 21 days from the date of the contract, the Purchaser's legal representative will make...
Modern Slavery Legislation: What business needs to know
The Modern Slavery Act 2018 (Cth) (“the Act”) received royal assent on 10 December 2018. The Act requires entities based or carrying on business in Australia, which have an annual consolidated revenue of more than $100 million, to report annually on the risks of...
What are your rights as a consumer buying gift cards this Christmas?
Earlier this year, the consumer protection laws regarding gift cards were amended to ensure that all gift cards redeemable in NSW did not carry unfair terms and conditions. The introduction of the Fair Trading Amendment (Ticket Scalping and Gift Cards) Act 2017 (NSW)...
Maximum penalties for breaches of the Competition and Consumer Act 2010 increased
The Treasury Laws Amendment (2018 Measures No 3) Act 2018 (Cth) (the Act) received royal assent on 31 August 2018, and commenced on 1 September 2018. The new penalties apply to acts, omissions or offences that occur on or after 1 September 2018. The Act amends the...
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