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Succession Planning for Business Owners
As a business owner, you deal with many responsibilities, including having to decide what to do with your business when you move on. Sometimes the logical endgame for a business is to be wound up, but in most cases, the aim is a smooth transition to new ownership....
New laws for Short-Term Rental Accommodation NSW
The New South Wales Government has introduced a statewide regulatory framework for short-term rental accommodation, titled State Environmental Planning Policy (Affordable Rental Housing) Amendment (Short-Term Rental Accommodation) 2021 (STRA). The framework regulates...
Is a testamentary trust right for you?
One of the most loving things that you can do for your family is make plans for what happens after you die. This is particularly important if you have children or vulnerable adults who depend on you financially. A testamentary trust might be the right tool to help you...
First Home Buyers Choice NSW – stamp duty v land tax
For most people, buying their first home is a huge challenge, both financially and personally. With the cost of the “average” home in New South Wales exceeding a million dollars, saving a 20% deposit is itself a substantial undertaking, usually requiring years of...
Ensure the Will is up to date before a loved one loses capacity
The question of mental capacity is an important consideration in will-making and can be a contentious issue. How often do we hear family members arguing over a loved-one’s ‘state-of-mind’ and ‘what Grandad would have wanted’ when sadly, his memory and ability to make...
Options to renew in commercial leases – don’t get caught out!
An option clause is a term in a commercial lease that allows a tenant to renew their lease at the end of the original lease period, if they meet certain conditions. Landlords are not obliged to offer a renewal option. However, it is often in the interests of both...
Self Managed Super Funds – Buying Property
Since 2007, self-managed super funds (SMSF) have been permitted to borrow money to invest in all types of real property including residential property, commercial property and industrial property. Prior to 2007, SMSFs could purchase property but were not permitted to...
Disclosure and warranties in residential property transactions
Sellers of residential real estate must give statutory warranties about the property they are selling and include certain disclosure documents in the contract. The disclosure and warranty requirements are found in the Conveyancing (Sale of Land) Regulation 2017...
No more paper title deeds – what you need to know about e-conveyancing
Settlements used to require lawyers and banks to meet up to check and swap documents and bank cheques. The documents had to then be lodged with the Land Registry Office and government authorities had to be notified about the transaction. The recently introduced...
Buying a business – some handy hints!
So you have found a business and you have your heart set on buying it. Or maybe you work for a business that looks like it is being sold. Congratulations that’s great news! However, before you rush off to hand over the purchase price or greet the new owner of the...