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Transferring and adding individuals to a property title or amending property ownership structures is something we see often at our office whether it be parents gifting or selling property to their children or by amending the ownership structure by adding someone such as a spouse to the title or even changing the shareholding in the… Read more »

Subject to Finance Clauses Subject to finance is a term in property purchase contracts which allows you time to organise the finance for your purchase. It essentially means that you have the option to put an end to the contract if a loan for the property cannot be obtained by an agreed due date. Although… Read more »

When a business owner intends on purchasing a business, they visualise themselves running and operating the business they have acquired but do no think of all the steps and legal requirements in between. The process of purchasing a business can be lengthy and confusing and entails a process a new business owner simply does not… Read more »

The Full Federal Court by a majority has ruled that share losses can be deductable under section 8-1 of the Income Tax Assessment Act 1997. In Greig v FCT the taxpayer argued that their share losses of $11.85 million between 2014 and 2015 and $507,198 in legal fees were deductible as they were incurred in… Read more »

Affordability: When intending to purchase property, the first thing to consider is what your budget is and what you can afford to repay. You must remember that you’re not only subjected to the purchase price, but many other necessary costs are incurred when buying, such as Deposit; Stamp Duty; Interest on your Loan; Legal and… Read more »

Some key advice lawyers generally give to clients is to get their contracts reviewed prior to signing. Contracts vary from business contracts, contracts of sale of land, build contracts even employment agreements, it is important to know what you are signing up for and will be legally bound by. Fairly often we are approached by… Read more »

Many of our clients question the need for having to complete their verification of identity. Confirming a person’s identity is an essential and crucial step in property dealings in accordance to the Transfer of Land Act (Vic) 1958 and especially, since the introduction of electronic conveyancing compliance with the Model Participation Rules under the Electronic… Read more »

Many do not realise that more than 60 per cent of small businesses in Australia close within their first three years according to the Australian Bureau of Statistics. An accountant is experienced in the latest taxation laws that may affect your business. Therefore, they know what taxation offsets and expenses you can claim for your… Read more »

When establishing a Partnership Structure, the view of profits and running the business to success overshadows the possibility of any unforeseen circumstances or dispute arising. Therefore, it is always a good idea to establish a Partnership Agreement no matter whether the partnership is made up of individuals or corporations. A partnership agreement is a legally… Read more »