If you are purchasing or selling a house in NSW is it likely that you have heard of the word PEXA. PEXA is an acronym for Property Exchange Australia. It is a public company with majority shareholders owned by Link, Commonwealth Bank and Morgan Stanley that completes around 20,000 settlements a week or 80% of […]
How to make the executors job easier
Undertaking the role of the executor of a will can be difficult, especially when dealing with the loss of a loved one. The executor has six months (Supreme Court Rules 1970, Part 78, Rule 16) from the date of death of the deceased to file for probate. Filing after this date requires an explanation to […]
Disruption and protests to major facilities or roads
The NSW Government has initiated a new offence under the Roads and Crimes Legislation Amendment Bill 2022 to form a part of the Roads Act 1993. These offences are designed to target protest behaviour with more severe punishments for impeding major roads and facilities. While both offences must be reviewed by the minister in two […]
Things to know before buying into a Strata Scheme
A strata scheme is a building or collection of buildings that has been divided into ‘lots’. Lots can be individual units/apartments, townhouses or houses. When a person buys a lot, they own the individual lot and also share the ownership of common property with other lot owners. Common property generally includes things like gardens, external […]
Foreign Resident Capital Gains Withholding FRCGW & Clearance Certificates
Foreign resident capital gains withholding (FRCGW) applies to all vendors disposing or selling of property under contracts entered into from 1 July 2016. FRCGW is different to the foreign person surcharge when purchasing a property but is often confused. The withholding obligation applies to both Australian resident and foreign resident purchasers. The FRCGW tax rate is […]
Spent Convictions in NSW
Spent Convictions, What are they? A spent conviction is a scheme where after a period known as the ‘waiting period’ or ‘crime-free period’ a conviction is ‘spent’. The waiting period in NSW and for commonwealth offence is a period of 10 years as an adult and 3 years otherwise. Where an offence is capable of […]