Year: 2018

GST Withholding Regime

GST Withholding Regime commenced on 1 July 2018

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 […]
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Special Disability Trusts

Special Disability Trusts

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 […]
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Section 52 Statement

Section 52 Statement – Sale of Business

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 […]
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Electronic Conveyancing

Electronic Conveyancing

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 […]
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De Facto Property Division

De Facto Property Division

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 […]
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Adverse Possession

Adverse Possession – What’s all the fuss about?

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 […]
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Adverse possession land

Adverse Possession – FAQs

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 […]
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Title Insurance

Title Insurance

As an additional service to our clients we offer Title Insurance through Stewart Title.  We do not receive any form of commission or payment from Stewart Title when referring our clients. Title insurance provides property owners with protection against unknown risks and is a valuable tool to manage these risks. Cover is provided for a […]
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Divorce, Separation, Breakup, Marriage Split

You want a divorce?

What is a Divorce? The granting of a divorce by the Court does not determine issues about the distribution of property, financial support (maintenance) or parenting arrangements for your children. A divorce merely provides formal recognition that your marriage has ended. The only ground for divorce is that the marriage has broken down and there […]
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