Land Tax From 1 January 2024 land tax can no longer be adjusted between a vendor and purchaser (applies to contracts for the sale of land entered into from 1 January 2024). Adjustment clauses in contracts of sale requiring apportionment of land tax will be unenforceable and penalties for breaches of the new law can …
Adjustment of Land Tax and Windfall Gains Tax Prevented Read More »
From 1 January 2025 VRLT will apply to the whole of Victoria and the application of VRLT will depend on an owner’s use and occupation of residential land for the previous calendar year. So, on 1 January 2025, an owner’s use and occupation of residential land for 2024 will determine if the VRLT will apply. …
With all the hype about ChatGPT – Fleur Craig has been having fun asking ChatGPT all sorts of legal questions. Whilst answers where somewhat questionable, Fleur can’t deny it’s better at poetry. Here is a poem created using ChatGPT entitled “Adverse Possession”. Adverse possession, a curious notion, The claiming of land through long-time devotion. Where …
Marriage In broad terms a Will is revoked by the marriage of the Willmaker. There are exceptions including as to dispositions to a person the Willmaker is married to at the time of death and appointments of that person as executor or trustee or guardian. A Will can be made in contemplation of marriage, or …
As part of your estate plan, you should make a plan for the care of your pets when you pass away. You may ask a trusted friend or family member to take on this role, and you may choose to include this wish in your Will. You may also include a gift to the carer …
From 1 July 2023 a windfall gains tax (WGT) will apply to land that is rezoned by government resulting in a value uplift to the land in excess of $100,000. Why? Significant windfall gains can accrue to landholders when the value of their land increases due to government decisions to rezone land. According to the …
WINDFALL GAINS TAX – The answer, my friend, is blowin’ in the wind. Read More »
To complete my intellectual property basic blog series here is: “Confidential Information – Ssshh It’s Secret!” Have you ever had a brilliant idea but didn’t know what to do with it? You didn’t know how to talk to people who did without letting the cat out of the bag? Copyright does not protect ideas, concepts, …
The Commercial Tenancy Relief Scheme (“2021 Scheme”) has been introduced by the Victorian Government to help ease the financial hardship caused by the COVID-19 Pandemic for commercial tenants. Like the 2020 Scheme the aim is to encourage tenants and landlord to negotiate in good faith to reach an agreement as to rent relief, the big …
What is a trade mark? A trade mark identifies a product or service and helps to distinguish it. It is your brand – your identity. It must be capable of distinguishing your goods and services from those of other people. A trade mark is a type of intellectual property (IP) and forms part of the …
The definition of a “consumer” under the Australian Consumer Law (ACL) changed as at 1 July 2021. A party is now defined as a consumer if the party purchases goods or services that are: – valued less than $100,000; or – valued at more than $100,000 but are of a kind ordinarily acquired for personal, …
Australian Consumer Law – “Consumer” threshold increases to $100,000 Read More »