It is now well known that where a discretionary trust is to acquire or own residential land in New South Wales it may be necessary to amend the trust deed for the trust to prevent foreign person duty and land tax surcharges being imposed on the trustee.Read More
It would be prudent to recommend to your clients that their "fixed" trusts and unit trusts be reviewed having regard to recent developments.
On 13 September 2017, the ATO issued a finalised Guideline (PCG 2016/16) which sets out the circumstances when the Commissioner will exercise his discretion to treat a trust as a fixed trust.Read More
About to enter into a commercial lease? Daunted by the whole process?
Entering into a commercial lease can be an overwhelming experience for many tenants, with typical lease agreements addressing an array of topics, riddled with complex legal terminology and in some cases, exceeding 50 pages.Read More
How an owner of land may use the land he or she owns, depends upon the local council's zoning
controls. A local council uses zoning controls to influence the way land is zoned within a local shire.
If you're an accountant or professional adviser, take note. The recent decision in Fair Work Ombudsman v Blue Impression Pty Ltd & Ors  FCCA 810 has put accountants and professional advisers on notice that they too can be found liable for their clients' breaches of the Fair Work Act 2009 (Cth) (FW Act).Read More
The 2017/2018 Budget includes a number of significant changes in the property sector that will have an impact on all property transactions and in particular for foreign investors, investors, developers and first home buyers. We have summarized a number of the changes that you should keep in mind when buying or selling from 1 July 2017.Read More
On 19 May 2017, the Personal Property Securities Amendment (PPS Leases) Act 2017 (Cth) (Amendment Act) received Royal Assent and is now effective. The Amendment Act has changed the definition of a "PPS Lease" (PPS Lease) under the Personal Property Securities Act 2009 (Cth) (PPSA).Read More
Usually, the terms of a lease will require a tenant to obtain the landlord's consent before the tenant may assign their lease to a proposed new tenant (the New Tenant). As a general condition of all leases in New South Wales, the Conveyancing Act 1919 (NSW) (Conveyancing Act) prohibits a landlord from unreasonably withholding consent to an assignment of a lease.Read More