What did they expect?

17 August, 2018

When sued by a client, the reaction from some practitioners is ‘What did they expect for what I charged?’ However, a court will give little regard to your fees when determining the extent of your retainer and whether you discharged your duty. You need to be clear about the scope of your retainer, irrespective of […]

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Vendor/supplier GST withholding notice

15 August, 2018

There is no prescribed form for section 14-255 supplier GST withholding notice. Below is a suggested form of notice practitioners are welcome to use or adapt.Page two of the notice contains some notes for its use.   Vendor_supplier GST withholding notice(PDF Version) | Vendor_supplier GST withholding notice(Word Version)    

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New ipso facto regime has commenced

10 August, 2018

The amendments to the insolvency regime in the Corporations Act 2001 (Cwlth) to restrict the rights of parties to enforce ipso facto clauses in new contracts came into effect on 1 July 2018. These clauses typically allow a party to terminate or exercise other contractual rights if the counterparty enters into an insolvency. Under the […]

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When to say goodbye

1 August, 2018

Practitioners should act decisively on non-performing clients. Practitioners need to proactively manage clients who do not appreciate the value of their services. This includes knowing when to act decisively by not accepting a retainer or terminating a retainer within r13.1 of the Legal Profession Uniform Law Australian Solicitors’ Conduct Rules 2015. Clients who do not value your services heighten your risks and […]

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Risk video bite – Conflicts

6 July, 2018

Presenter: Matthew Rose, Risk Manager, LPLC

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When parents lend to children

1 July, 2018

Be alert to the risks when advising on parent loans to home buyers. Last year, financial services comparison site Mozo reported that young home buyers in Australia have borrowed $65.3 billion from their families, making the bank of Mum and Dad the country’s fifth biggest lender. The June 2018 LPLC column “Take a step back” […]

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In Check Issue 79 | June 2018

28 June, 2018

Download PDF New requirements for some purchasers to withhold GST – 1 July 2018 From 1 July 2018 purchasers of certain new residential premises and potential residential land will be required to withhold the goods and services tax (GST) and pay it to the Australian Tax Office (ATO). Vendors of residential premises or potential residential […]

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Keeping out of the line of fire

21 June, 2018

A poor checking system that fails to identify actual or potential conflicts puts the law practice in the line of fire when the conflict comes to light

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Attention to all the details

15 June, 2018

Attention to all the details in preparing a contract is crucial to ensure correct and intended execution of the contract as well as good risk management. Care must be taken when using standard form contracts and completing the variables. Near enough is not good enough! In one claim, the practitioner acted for the vendor of […]

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Take a step back

1 June, 2018

Seeing the big picture is essential for good matter management. Experienced busy practitioners practising in their area of expertise are still at risk of claims. Unless you take time to stop and think about each matter it is easy to assume it is just like the last one you worked on. Don’t get so caught […]

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