Land Tax reminder for estates

2 December, 2008

The State Taxation and Accident Compensation Acts Amendment Act 2007 (Vic) amended the Land Tax Act 2005 (Vic) (“LTA”) on 12 December 2007 in relation to land held by personal representatives of deceased estates. A new category of administration trust was defined in section 3 of the LTA to be trusts under which assets of a deceased person are held by a personal representative, […]

Continue Reading

In desperate times beware vendor finance

2 December, 2008

In these current economic times practitioners are likely to see more vendors desperate to get out of their floundering businesses, and cash-strapped purchasers willing to give the business a go and make their fortune! Not quite the match made in heaven both parties think it is because the solution both sides come up with is the provision […]

Continue Reading

Binding Financial Agreements – Form matters

1 March, 2008

A recent Full Court decision in Black & Black [2008] FamCAFC  7, delivered in January 2008, confirms that the formal requirements in section 90G of the Family Law Act 1975 (Cth) must be followed to the letter to ensure the validity of a binding financial agreement. In Black & Black, even though the solicitor’s certificate […]

Continue Reading