Director Penalty Notices: A refresher as the ATO ramps up collections activity

During 2022, the ATO issued almost 18,500 director penalty notices (DPNs) to directors of Australian companies.  A further 52,000 directors received warnings, and the ATO has started referring certain debtors to credit reporting agencies.  This is indicative of a significant uptick in collections activity following a period of relative leniency [...]

2023-01-24T15:40:21+11:00January 24th, 2023|Categories: Insolvency|Tags: , |

Hands off my deposit… at least for now: creative special condition modifying the operation of statutory deposit release rules deemed void

Vendors in real estate transactions are motivated to have their deposits released as early as possible. This motivation is particularly strong in relation to sales of high-value development sites, which are often sold on terms where settlement may be scheduled many years into the future. A recent decision of the [...]

2023-01-19T11:45:33+11:00January 19th, 2023|Categories: Litigation, Property|Tags: , , |

Can a director of a building company be personally liable for misleading or deceptive conduct by failing to obtain domestic building insurance?

Domestic building insurance covers building owners for costs incurred in rectifying structural defects for up to six years and non-structural defects for up to two years to a maximum of $300,000 in the event a builder dies, disappears or becomes insolvent. This form of insurance must be provided by a [...]

2022-08-12T16:56:53+10:00August 12th, 2022|Categories: Property|Tags: , |

Is an owner obligated to give a builder an opportunity to rectify defective building works?

It’s an unfortunate reality. A homeowner engages a builder to construct or renovate a home. A developer engages a builder to construct one or more homes, and then sells them. In either case, the owner/purchaser is susceptible to having to deal with defective building works. Sometimes the relationship can sour, [...]

2021-09-22T11:37:26+10:00September 22nd, 2021|Categories: Property, Uncategorized|Tags: |

Important Update: 2021/22 Victorian Budget and Changes in the Property Sector

Last Thursday, Victorian Treasurer Tim Pallas announced the Budget plans for 2021/22. The property sector in particular will be significantly impacted as a result of the announcements made. The table below outlines the changes announced and proposed start date. Tax Change Effective on Stamp Duty Premium stamp duty introduced Premium [...]

2021-05-24T10:55:11+10:00May 24th, 2021|Categories: Property|Tags: , , , , |

Your builder gives you a quote, but no written building contract, and you agree to proceed. Where do you stand?

It’s surprisingly common for home owners to engage builders to undertake domestic building works without that arrangement being supported by a written building contract. Sometimes the only documentary support is a written quotation, which may not be compliant. Home owners may be tempted to agree to go ahead in such [...]

2021-03-04T19:59:05+11:00March 4th, 2021|Categories: Litigation, Property|Tags: , |

Extension of rent relief measures for commercial tenants

In our Property Update released on 4 May 2020 we commented on the new Victorian Regulations which provided certain tenants of commercial premises with the right to negotiate rent relief measures with their landlords. Eligible tenants were those with turnover of less than $50 million and who were participating in [...]

2020-09-23T15:20:32+10:00September 23rd, 2020|Categories: Property|Tags: , , |

COVID-19 Newsletter Update

From a legal perspective, the COVID-19 virus has raised substantial questions in relation to a range of issues across multiple sectors of industry. Some of those issues relate to insurance and the impact on contractual obligations under leases, building contracts, property transactions and supply contracts, cyber-security, employer-employee relations, the privacy [...]

2020-03-20T08:17:51+11:00March 20th, 2020|Categories: Commercial|Tags: , , |
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