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As part of the 2017/2018 federal budget to promote house affordability, it was announced that non-residents would no longer be entitled to the CGT main residence exemption. This means that any non-resident that maintained their home in Australia would no longer be entitled to a tax-free gain on disposal, but would be taxed on any capital gain they made on the disposal of their home

The month of December has been filled with the most important type of success and milestones for the Commercial department at Marsdens Law Group. Notwithstanding the huge effort put in to each of the Department’s matters in their busiest time of year, there have been two (2) employees with life changing news.

Organisations that are regulated by the Privacy Act 1988 (Cth) include:

Trying to think of ways to protect your assets before heading into business? You may want to think twice before transferring assets from your name to your spouse.

Prior to 1 July 2018, Crown land was managed under the Crown Lands Act 1989 (CLAct), and at least ten (10) other separate pieces of legislation. When the Crown Land Management Act 2016 (CLMAct) came into effect, eleven (11) Acts of the old Crown Land regime became wholly repealed, including the CL Act.

When a party to a contract experiences an insolvency event or encounters financial difficulty, there are likely to be certain rights that arise under a contract which are generally known as ‘ipso facto’rights. Ipso facto clauses in contracts allow a party to the contract to exercise rights, such as terminating or modifying the contract, even if the insolvent party to the contract is still able to continue to perform its obligations under the contract.

The Duties Act 1997 (NSW) sets out instances where a concessional or nominal amount of duty is payable on the transfer of property.Section 54(3) of the Duties Act 1997 (NSW) is an example of such a provision and states as follows:“(3) Duty of $50 is chargeable in respect of a transfer of dutiable trust property to a person (other than to a licensed trustee company, a special trustee, a trustee of a self managed superannuation fund or a trustee of a special disability trust) as a consequence of the retirement of a trustee or the appointment of a new trustee if the Chief Commissioner is satisfied that, as the case may be:

The SOP Act is a small but contentious piece of legislation which is ever changing and producing judgments from the Courts on an almost weekly basis.

The Personal Property Securities Act 2009 (Cth) (PPSA) was enacted in 2009 and brought together over seventy (70) previous Commonwealth, State and Territory Laws regarding security interests in Personal Property (being all property owned by a person other than real estate) and established one national online register in Australia known as the Personal Property Security Register (PPS Register).