Major Changes to Australia’s Cyber Security Landscape
In the wake of increasing data breaches,[1] on 29 November 2024, the Government passed its new tranche of legislative measures under its 2023-2030 Australian Cyber Security Strategy seeking to address legislative gaps, and bring Australia in line with international standards.[2] The Cyber Security Act 2024 [...]
New Wage Theft Laws: What Employers Need to Know to Avoid Criminal Charges
As of 1 January 2025, employers can face criminal charges for intentionally underpaying wages or entitlements. The new wage theft laws are part of the Closing Loopholes legislative changes, and include a significant amendment to the Fair Work Act 2009 (Cth) (FWA). This momentous shift follows the lodging [...]
Further update to Australia’s privacy law reforms
In our previous article, we reported on the Privacy and Other Legislation Amendment Bill 2024 (Cth) (“Bill”). The Bill passed both Houses of Parliament on 29 November 2024 and received Royal Assent on 10 December 2024.[1] As foreshadowed, the Privacy and Other Legislation Amendment Act 2024 [...]
Vacant Residential Land Tax Exemptions and Significant Amendments to Holiday Home Exemption – Do not Buy your New Holiday House in a Family Trust
On the 3rd December 2024, the State Taxation Further Amendment Act 2024 (‘Amending Act’) introduced significant changes to several taxes, foremost of which include the exemptions in the vacant residential land tax (‘VRLT’) (which take effect 1 January 2025) with the addition of companies and [...]
Temporary Changes to Off-the-Plan Duty Concessions
On 19 November 2024, the Duties Amendment (More Homes) Act 2024 (Vic) (' the Act') received Royal Assent. The Act introduces temporary changes to the off-the-plan land transfer duty concession, providing more buyers with the opportunity to access greater stamp duty savings. The Expanded Concession The [...]
The Often Overlooked Equity of Exoneration: How It Could Save Your Family Home
With insolvencies surging by 43% in the quarter ending 29 September 2024, many small and medium businesses — and their owners — are feeling the financial strain. For directors and their families, the impact can be especially severe if personal guarantees are enforced and the [...]
Repainting and Recarpeting Clauses in Retail Leases: What Every Landlord and Tenant Needs to Know
Disputes commonly arise between landlords and tenants in relation to obligations imposed on the tenant to repaint and recarpet the premises. A recent decision from the Victorian Civil and Administrative Tribunal (VCAT) sheds light on this issue, clarifying the relationship between lease obligations and [...]
United States Patent and Trademark Office (USPTO) Increases to Trademark Fees and Changes starting 18 January 2025
From 18 January 2025, the United States Patent and Trademark Office (“USPTO”) will adjust its fees, with its rationale being that these increases are necessary to provide themselves with the necessary resources to administer the US trademark system. As such, new surcharges/fees to the trademark [...]
Vacant Residential Land Tax Expansion and Key Changes for Property Owners in Victoria Starting January 2025
Owners of vacant properties outside of inner/middle Melbourne ought to know of an expansion to the Vacant Residential Land Tax (“VRLT”) starting from 1 January 2025. Starting next year, properties which are left unoccupied for more than 6 months for the preceding year in which [...]
Contract Nomination Exercise – Unpacking the Double Duty Trap – Inherent Risks in Land Developments and Additional Consideration for Property Transactions in Victoria
A common issue our taxation team encounters in relation to a property transaction is the imposition of double stamp duty on purchasers. This occurs as a result of a second sale of land to a subsequent purchaser, often referred to as the nominee. As a [...]