From 1 July 2018 the GST Withholding Regime requires purchasers of new residential premises and potential residential land to withhold a GST component (1/11th or 7-9% if the margin scheme applies) from the purchase price and remit it directly to the ATO. New residential premises are defined as property that has not previously been sold as residential property or […]
GST Withholding Regime commenced on 1 July 2018 Read More »
Special Disability Trusts provide a very good way to provide for the long-term care and living needs of someone with a severe disability by controlling assets for their benefit. A Special Disability Trust can be created by your Will or by Deed whilst you are alive. To be eligible to be a beneficiary of a
Special Disability Trusts Read More »
A vendor of a business up to $450,000 in value must provide a Section 52 Statement* (Disclosure Statement) before a purchaser signs the contract of sale or pays the deposit. (Current as at August 2020) The Section 52 Statement provides a due diligence guide and set out the financial performance of the business over the
Section 52 Statement – Sale of Business Read More »
Peter Speakman & Co is a PEXA-registered law firm and we are able to act for you in all electronic conveyancing transactions including registration of transfers and settlements in the purchase and sale of property, registration of mortgages and discharges of mortgage, caveats and withdrawal of caveats, survivorship applications and transmission applications. PEXA is an
Electronic Conveyancing Read More »
As from 12 March 2018 new Medical Treatment Decision Maker Forms replace Enduring Powers of Attorney (Medical Treatment) and new legally binding Advance Care Directives can be made. Pursuant to the Medical Treatment Planning and Decisions Act 2016 (“the Act”) you can appoint a medical decision maker to make decisions as to your medical treatment when
Appointment of Medical Treatment Decision Maker & Advance Care Directives Read More »
If your marriage or de facto relationship has had a breakdown superannuation splitting laws allow superannuation to be split between you and your partner. Superannuation is treated as property by the Family Law Act 1975, but it is treated differently to other property because it is held in a trust. A member or a non-member
Marriage or de facto relationship breakdown – don’t forget the Superannuation Read More »
In Victoria, de facto property divisions are affected by the same laws and legal principles as apply for married couples when they separate and divide their property. These laws and legal principles are covered by the Family Law Act 1975. A de facto relationship is defined as a relationship between two people (including of the same
De Facto Property Division Read More »
With median property prices staying high, the value of a small strip of adverse possession land may be worth a lot more than you think. Median property prices as at 12 February 2018* include: Malvern – $2,700,000 Glen Iris – $1,950,000 Glen Waverley – $1,359,000 Camberwell – $2,216,000 Clayton – $1,250,000 Ascot Vale – $1,155,000
Adverse Possession – What’s all the fuss about? Read More »
What is a Testamentary Trust Will? A Testamentary Trust Will is simply a Will that creates a trust. Whilst it can be either a fixed or a discretionary trust usually reference to a Testamentary Trust Will is to a discretionary trust (also known as a family trust). These trusts commence at the time of the will
Do I need to make a Testamentary Trust Will? Read More »
What is adverse possession? Pursuant to s8 of the Limitation of Actions Act the title owner of land loses the right to claim repossession of that land after 15 years (subject to qualifications). At the expiration of the 15-year period the title to the land is extinguished (s18). I think my boundaries are out what should I
Adverse Possession – FAQs Read More »
