Cyber claim dramatic increase – everyone is at risk

5 September, 2019

Cyber security is an increasingly significant issue for law firms of all sizes and practice areas, it is not just conveyancing practices at risk, every practice area when they handle money is a potential target. In the 2018-19 year we have seen more than double the number of cyber claims and notifications than the previous […]

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Retrospective changes proposed for residential ‘off the plan’ sunset clauses

29 March, 2019

key risk alerts New bill proposes changes to the operation of sunset clauses in residential off the plan sales contracts. Proposed new requirements will prevent a vendor rescinding ROTP contracts based on a sunset clause without: at least 28 days written notice a purchasers consent The bill provides that the ‘notice’ and ‘consent’ provisions will […]

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PEXA, email, electronic funds transfers and cyber-crime

25 September, 2018

PEXA, email, electronic funds transfers and cyber-crime On 25 June 2018 LPLC published a security warning for PEXA users arising from some recent instances of fraudulent activity impacting PEXA transactions. One of these (‘the MasterChef case’) involved a fraudster entering the PEXA workspace and changing payment account details to divert $250,000 of the proceeds of […]

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GST withholding practical examples

25 September, 2018

Download PDF GST withholding practical examples This bulletin contains practical examples in question and answer format of how the purchaser GST withholding provisions work. For general information about the withholding requirements see the bulletin Some purchasers required to withhold GST from 1 July 2018. Contracts signed before 1 July 2018 Question 1 Our clients purchased […]

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Medical Treatment Planning and Decisions Act 2016 (Vic)

14 August, 2018

Key points Appointments of medical treatment decision makers and advanced care directives replace medical powers of attorney and refusal of medical treatment certificates from 12 March 2018. Medical power of attorneys entered into before 12 March 2018 are taken to be appointments of medical decision makers. Any refusal of treatment certificates created before 12 March […]

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Some purchasers required to withhold GST from 1 July 2018

7 August, 2018

Download PDF Suggested resources: Vendor/supplier GST withholding notice Key points New GST withholding regime applying to some settlements from 1 July 2018. New notification obligations on vendors of new residential or potential residential land. New notification and withholding obligations on purchasers of new residential or potential residential land. Penalties apply for both vendor and purchaser […]

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GST withholding special condition

27 June, 2018

Download PDF GST withholding 1.1. In this special condition, section references are to Schedule 1 of the Taxation Administration Act 1953 (Cwth) as amended by Treasury Laws Amendment (2018 Measures No.1) Act 2018 (Cwth) and asterisked terms have the same meanings as when used in that schedule. 1.2. If section 14-255(1) applies to the supply […]

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Security warning for PEXA users

25 June, 2018

Recent news reports and emails from PEXA have described a fraud involving the PEXA workspace. Any users of the PEXA workspace need to read this bulletin for tips on how to avoid this happening to them. The fraudster appears to have gained access to a subscriber’s email account and intercepted a change of password email […]

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Personal Property Securities Act 2009 (Cwlth) – background and key concepts

11 July, 2017

Published March 2012 – updated July 2017 The Personal Property Securities Act 2009 (Cwlth) (PPS Act) commenced on 30 January 2012. Since then LPLC has received claims every year for mistakes by practitioners in dealing with PPS Act issues. This bulletin contains background information about the PPS Act and key concepts. Background NB: The PPS […]

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Amended CGT withholding payments for options, company title interests and indirect Australian real property transactions

10 July, 2017

Download PDF Published July 2016 – updated July 2017 The bulletin contains information on the withholding requirements which commenced on 1 July 2016 as amended in June 2017 by the Treasury Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Act 2017 (Cwlth). This bulletin focuses on: options and rights to acquire company title interests indirect […]

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