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Superannuation Binding Death Benefit Nominations

Superannuation Death Benefit Nominations

If you have made a Superannuation Binding Death Benefit Nomination (BDBN) it may only last for 3 years. You can make a non-binding nomination (DBN), which your superannuation trustee is not bound to follow and the decision as to who will ultimately benefit is at the trustee’s ultimate discretion, or you can make a binding […]
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Covid 19 Restrictions Office Shutdown

COVID-19 Update

Peter Speakman & Co Lawyers prioritises the health and safety of our staff and clients. The Victorian Government has announced unprecedented restrictions across Melbourne to stem the spread of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) and COVID-19 disease. The restrictions mean that our office will be closed, effective from close of business on Wednesday 5 […]
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Swimming Pool & Spa Compliance

Swimming Pool & Spa Compliance

New laws to improve swimming pool and spa safety came into effect on 1 December 2019. It is now mandatory for owners of land where a swimming pool or spa is located registered their pool or spa with their relevant local council. By 1 June 2020 property owners are required to register their pool and spa with their local […]
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Hand offering help

The Voluntary Assisted Dying Act

Victoria’s Voluntary Assisted Dying Act commences on 19 June 2019.   The Act sets out strict eligibility criteria and procedures enabling a person in the late stages of a terminal illness to ask for and access the medication for voluntary assisted dying. The Act sets up safeguards to ensure that a person’s decision to request and […]
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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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social media defamation

Think before you Tweet

Defamation is probably the last thing on your mind when you post a quick comment on Facebook or Twitter or post an online review – but be mindful ill-considered posts may well constitute defamatory publications. Re-tweeting a defamatory tweet or sharing a defamatory Facebook post may also constitute publication of the defamatory material so care […]
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Same sex marriage, LGBT, Just Married

Same Sex Marriage, Revisited

Same sex marriage, it’s the issue that simply won’t go away. Now that the High Court has ruled, allowing the postal ‘vote’ to go ahead, we’re inching that much closer to closure. One way or another. Though we haven’t yet reviewed the High Court’s decision (coincidentally, its site is down for maintenance), the Court’s decision […]
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Unfair Contract amended to Fair Contract

Unfair Contract Terms – A recent VCAT case

In November 2016 the protections under the unfair term provisions of the Australian Consumer Law, previously only available to consumers, were extended to apply to small businesses. In a decision handed down on 9 August 2017, Deputy President I. Lulham of the Victorian Civil and Administrative Tribunal (VCAT) held that the contract term in question […]
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Closed Road

Bonnie Doone – A disruption to the serenity (Council’s discontinuance of a Public Road held invalid)

In the recent decision by His Honour Justice Garde in Pulitano Pastoral Pty Ltd v Mansfield Shire Council [2017] VSC 421 (27 July 2017) (Pulitano) His Honour held that the Council’s deregistration decision, insofar as it affected Fridays Lane in Bonnie Doone, and its subsequent discontinuance decision were invalid and of no effect, and should […]
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Stamp duty

Stamp Duty & Land Tax Changes – 1 July 2017

STAMP DUTY Spouse/Domestic partner Transfers of Real Estate From 1 July 2017, the stamp duty exemption for transfers between spouses/domestic partners will no longer apply to transfers of investment or commercial properties between spouses/domestic partners. The exemption will still apply for the transfer between spouses/domestic partners of a principal place of residence. The exemption will […]
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Piggy bank

Changes to Foreign Resident Capital Gains Withholding Payments

On 9 May 2017 the Federal Government announced proposed changes to the foreign resident capital gains withholding payments (FRCGW) threshold and withholding rate. These changes will apply to contracts entered into on or after 1 July 2017: for real property disposals where the contract price is $750,000 and above (previously $2 million) the FRCGW withholding tax rate will be 12.5% (previously […]
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Land with restrictive covenant

Restrictive Covenant – Removal or Modification

A restrictive covenant is an agreement restricting the way the covenantor can use his or her land.  Restrictive covenants are usually used as a way to regulate land use and their purpose is aimed at preserving the value, character and amenity of the land. Examples of restrictive covenants include: limiting the number of dwellings, limiting […]
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Last Will & Testament

Stepchild – Will Challenges

In the case of Bail v Scott-Mackenzie [2016] VSC 563 Associate Justice Derham confirmed that a “stepchild” is eligible to challenge a Will under the 2015 amendments to the Administration and Probate Act 1958 (“the Act”) where that stepchild is a child of a deceased’s former domestic partner.  His Honour also confirmed that a child […]
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ppsr, personal properties securities register

PPSR – Personal Property Securities Register

A failure to register your security interests on the Personal Property Securities Register (PPSR) could prove to be a costly mistake.  What is the PPSR? The Personal Property Securities Act 2009 (Cth) (PPSA) introduced a single national personal properties security register (PPSR) in 2012 for all debtors, all security interests, all types of personal property. […]
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IP, intellectual property, issues, transferring business

Intellectual Property issues arising when buying or selling a business

When buying or selling a business it is important not to overlook the intellectual property aspects of the transaction.  For the vendor, proper analysis of intellectual property rights can ensure that the business is properly valued.  For the purchaser, it is crucial to ensure that all intellectual property assets that the purchaser wishes to acquire […]
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New Small Business Unfair Contract Term Regime

Are you ready for the new regime?  If you are a small business, or deal with small business you need to be on top of the changes being introduced by the Unfair Contract Terms laws commencing on 12 November 2016.  The changes will extend protections now only afforded to consumer contracts to small business contracts. […]
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Will with amendments

Challenges to Wills – First Case Decided Since Extensive Changes to the Administration and Probate Act

Brimelow v Alampi [2016] VSC 135 (8 April 2016) was a claim by an adult daughter against her mother’s estate for whom the deceased made no provision.  Whilst the defendant had conceded that the deceased did in fact owe her daughter a moral duty and was therefore entitled to receive provision from the deceased’s estate […]
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Road to Nowhere

Road to Nowhere

The question before the Court in Anderson v City of Stonnington [2016] VSC 374 (“Anderson v Stonnington”) was whether the laneway in question was a road within the meaning of the Local Government Act 1989 (“LG Act”), the Road Management Act 2004 (“RM Act”) or a highway pursuant to the common law.  The Court determined […]
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Will with amendments

Challenges to Wills

The Administration and Probate Act 1958 allows an eligible person to apply for additional provision to be made for them from the estate of the deceased where the deceased’s Will does not adequately provide for them. The Act uses a list-based approach, listing those who are eligible to apply. From 1 January 2015, the list […]
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Fence

Fencing Disputes

New fencing laws came into operation in September 2014; the Fences Amendment Act 2014 (Vic) (“FAA”) updated and amended the Fences Act 1968.  The main changes made by the FAA are: One simplified process for all fencing and subsidiary work involving the construction of a new dividing fence or the repair of an existing dividing […]
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Property/City Skyline

General Law Land

General Law Land  In Victoria, General Law Land (also known as Old Law Land or “NUA” Land (Not under the Act)) is land that has not been brought under the operation of the Transfer of Land Act (TLA). Since 1999 it has been compulsory to bring land under the TLA on transaction (e.g. on the […]
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Door chained and padlocked

Superannuation – Binding Nominations

Superannuation Death Benefits – you can’t just nominate anyone Your ‘death benefit’ includes the money in the your superannuation account at the time of death plus any life insurance cover you have through your super fund. Death benefits are not estate assets and therefore you generally cannot deal with your death benefits in your Will.  […]
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Open Hard Drive showing workings

Data Retention Laws

What is Metadata? Metadata is data that describes other data. So, for example, the Metadata relating to a telephone call would include information related to that call – date and time of the call, duration, telephone numbers of both parties, approximate locations of the parties, and then like – but not the actual voices themselves. […]
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Peter Speakman & Co Lawyers

Power of Attorney Law Change

The Powers of Attorney Act 2014 (“the New Act”) will commence on 1 September 2015, after which powers of attorney appointments must be made under the New Act. A Power of Attorney is a legal document pursuant to which a person (“the Principal”), who has capacity to make decisions and take action, may appoint another […]
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Intertwined marriage rings

Same Sex Marriage

What’s the issue?  As the law presently stands in Australia, persons of the same gender are not able to marry.  That is, the definition of marriage explicitly excludes persons of the same gender. What does the law say? “Marriage” is defined in the Marriage Act 1961 (Cth) (“the Act”), a Commonwealth act of parliament, last […]
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