Blog
Land tax liability when property is held in a trust
If property is held in a trust, then depending on the type of trust, there are different rules and requirements in respect of how land tax is treated.
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Do you need a property co-ownership agreement?
With the rising cost of housing, particularly in Sydney, situations of co-ownership of property between multiple persons are becoming more common. In this article, we look at seven scenarios where having a co-ownership agreement in place could be beneficial.
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Who pays land tax and how is it calculated?
Many people have received correspondence from Revenue NSW with an invoice for multiples years of land tax because they did not know they were liable for land tax and had not registered. Find out if you have to pay and how much you might have to pay.
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Tax changes for Discretionary Trusts after 31 December 2020
If your Discretionary Trust holds or acquires residential land in NSW after 31 December 2020 then your trust will be liable to surcharge duty and surcharge land tax if you do not amend your Trust Deed before 31 December 2020.
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Dividing personal possessions after the death of a parent
When a parent dies, it can be difficult for the children to deal with the contents of the home including things like furniture, artwork, antiques, memorabilia and so on. A lot of those things may have little commercial value but often have a very high sentimental value. But you still need to know how to go about division of these items and when you can do it.
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Are there time limits for property settlement after separation or divorce?
One of the first questions a family law lawyer may ask you is 'when did you separate?'. There is a good reason for this question. Time limits apply to family law proceedings for property settlement.
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When should I review or update my Will?
Your Will and estate plan ages over time but unlike a fine wine, it will rarely improve with time. There will be times during your life when you should review and/or update your Will, particularly when your personal circumstances change.
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Getting a divorce in Australia
In 1975 the Family Law Act established the principle of no-fault divorce in Australia. This means that there is no longer any requirement for one of the parties to be considered 'at fault' for the relationship breakdown. The court only requires that there is an irretrievable breakdown of the marriage, in order to grant a divorce.
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Can I get a divorce if I have been married less than 2 years?
If you and your husband/wife have been married for less than 2 years, then you must attend counselling before filing an Application for Divorce. The two years is calculated from the date of the marriage to the date of applying for the Application for Divorce.
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How do I serve divorce papers in Australia?
When you divorce in Australia and you lodge your Application for Divorce, you are required to notify the other party (your husband or wife) that you have done this; unless you make a joint application. This notification is referred to as ‘service’.
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What happens to a loan from parents if the children divorce?
We have seen an increase in family law matters where one set of parents have provided money to their child and that child has subsequently separated from their partner. Whether the money provided by parents is a gift or a loan, can affect each party's entitlements when they divorce.
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NSW regulations for commercial leases during COVID-19. Landlord and tenant obligations and rights.
We previously wrote about commercial leases and the Federal Government Code of Conduct, back in April 2020. Since that time, the NSW State Government has passed its legislation which supports the code for NSW lease transactions.
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