Purchaser of Shopping Centre may be liable for vendor's pre-lease misrepresentations In a preliminary hearing in the Administrative Decisions Tribunal in the matter of Red Roll Pty Limited v Multiplex Latitude Retail Landowner Pty Limited, Multiplex WS Retail Landowner Pty Limited and AWPF Management Pty Limited [2008] NSW...
This Act commenced on 1 August 2008 and makes important changes to Strata Title Law in NSW. The changes are as follows: 1. Caretakers and Building Managers The Strata Schemes Management Act 1996 (“the Act’) is amended by adding section 40A(4) as follows: For the purposes of this Act, a person...
The Corporations Act (“the Act”) has been amended to include section 558GA which gives the Commissioner of Taxation a right to recover from directors personally an amount of “loss or damage” resulting from a Liquidator successfully recovering from the Commissioner for Taxation payments which are ordered to...
The Facts: In June 2005, the Garnocks (“the Purchasers”) entered into a contract for the purchase of a rural property (“the Property”) from Mrs Smith (“the Vendor”). Settlement of the contract was due to take place at 11.00am on 24 August 2005. On 23 August 2005, a firm...
The Trees (Disputes Between Neighbours) Act 2006 ("the Act") commenced on 2 February 2007. Under the Act, the Land and Environment Court of NSW is able to make orders to remedy, restrain or prevent damage to property or to prevent injury to a person when a tree...
Do you know what your self managed superannuation trust deed provides should happen upon your death? Who will decide where amounts standing to your credit will be paid? If you are a trustee, who will replace you? Many trust deeds give very broad discretion to the...
The Federal Government has recognised employee share ownership as something that should be encouraged. It has set a target to increase the percentage of employees receiving shares as a benefit from employment from 5.5% in 1999 to 11% in 2009. To encourage this increase it has...
Developers and purchasers who wish to rely on the long term or permanent enforceability of restrictive covenants should be aware of section 28 of the Environmental Planning and Assessment Act 1979 (NSW) (“the Act”). Section 28 enables environmental planning instruments to override restrictive covenants where development...
Developers and purchasers who wish to rely on the long term or permanent enforceability of restrictive covenants should be aware of section 28 of the Environmental Planning and Assessment Act 1979 (NSW) (“the Act”). Section 28 enables environmental planning instruments to override restrictive covenants where development...
From time to time clients have approached us in relation to setting up a ‘testamentary trust’ as a mechanism for sensible estate planning. Often this occurs following a conversation the client may have had with his or her accountant. Clients are also often advised by their...