Buyers – What is a Section 27?
After you sign a contract of sale, you will generally pay your deposit to the real estate agent. Usually, this amount will be held by the agent until settlement takes place. After settlement occurs, the deposit will then be released to the vendor. A Section 27 statement is a document that allows the vendor to […]
New Anti-Money Laundering and Counter-Terrorism Financing Law that apply to law firms in Australia: what does this mean for our clients?
Anti-money laundering and counter-terrorism financing (AML/CTF) law help deter, detect and disrupt money laundering and terrorism financing. To align with international standards, the Federal Government introduced new AML/CTF law, which applies to law firms providing certain services in Australia from 1 July 2026. What changes does the new law bring? From 1 July 2026, we […]
Solicitor’s Certificate for Guarantors
A lender may require a guarantor of a loan to obtain independent legal advice before giving any guarantee. A guarantor is an individual or a company, who will be responsible for meeting the borrower’s obligations under the loan agreement if the borrower fails to do so. What is a solicitor’s certificate? A solicitor’s certificate […]
Commercial Stamp Duty Abolished…or is it? Introducing the Commercial & Industrial Property Tax reform
Stamp duty has long been a barrier to a buyer’s property transactions, whether they are entering the market for the first time or building a portfolio. The Victorian government has announced the abolishment of duty on eligible commercial and industrial properties (“CIPs”) (‘the reform’). From 1 July 2024, CIPs transactions will trigger a final stamp […]
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Minimum Entitlements – A Case Study In Wages
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