A transfer of dutiable property made without monetary consideration to a trustee or custodian of a complying superannuation fund where there is no change in the beneficial ownership of the property. 

The Victorian Government introduces new bill imposing a levy or tax of 7.5% on short-term accommodations

Transfer of property due to a change of trustee

The Victorian State Budget for 2024/2025 has revealed a new tax measure for land utilised in social and emergency housing. This new land tax exemption aims to clarify existing arrangements, ensuring landowners involved in such housing initiatives are not burdened by excessive land tax obligations.

We are all too familiar with the growing number of data breaches in both Australia and abroad. The Office of the Australian Information Commissioner (OAIC) recently issued its Notifiable Data Breaches Report (Report) for June 2023 to December 2023, revealing some concerning findings.

Stay legally on track with our free Terms & Conditions Traffic Light Review— green for compliance, red flags for caution.

Certain retail premises are excluded from the protection and requirements of the Retail Leases Act 2003 (Act), including premises used for the retail provision of services located above the first three floors in a multi-story building (Third Storey Exclusion). A recent VCAT ruling in Aqua Greenland Pty Ltd v Max Therapy School Pty Ltd (Building and Property) [2023] VCAT 449 has considered the Third Story Exclusion.

From 9 November 2023, major amendments apply to the unfair contract term (UCT) regime. The UCT regime applies to standard form contracts entered with consumers and small businesses, and attracts significant penalties.

Not-for-profit organisations and charities registered with the Australian Charities and Not-for-profits Commission (ACNC) often engage in agreements and arrangements with individuals or entities with whom they share pre-established connections or a common interest, particularly when starting out.

A recent VCAT decision has served as an important reminder for those undertaking capital raising for funds investing in real property, including for development.

Ordinarily, land transfer duty (stamp duty) is paid by the transferee at the time of the transfer of dutiable property, such as real property, unless an exemption to stamp duty is applicable.

Not so long ago, the possessions that people left to their estate after passing away were physical and tangible like cars, cash or jewellery. These days however people produce a significant digital footprint consisting of accounts, profiles, and digital assets. New assets and investments such as cryptocurrencies, NFTs, loyalty program accounts and social media accounts are all changing the succession planning process. Existing tools like Wills and trusts remain effective to deal with these digital assets.

A DAO creates an ‘organisation’ by establishing relationships between people software that operates on the blockchain. A DAO uses the capabilities of smart contracts and decentralised technology to streamline and enhance its decision-making processes.

The Australian Institute of Company Directors (AICD) recently engaged prominent Sydney barristers Gerald Ng and Bret Walker AO SC to examine and analyse the current interpretation of directors’ best interest duty by the Australian Courts.

What is an NFT?

A Non-Fungible Token (NFT) is a type of digital asset or token of a small piece of data linked to an object, such as a unique image, cartoon or animation.

The Australian Tax Office (ATO) has released a statement outlining their priorities ahead of the end of financial year 2021/22, with crypto-assets being one of these priorities due to its rising popularity.

The Australian Cyber Security Centre (ACSC) defines a cyber incident as an unwanted or unexpected cyber security event, or a series of such events, that have a significant probability of compromising business operations.

The Australian Information Commissioner and Privacy Commissioner, Angelene Falk, has recently determined that the Australian Federal Police (AFP) has failed to comply with its privacy obligations in using the Clearview AI facial recognition tool (FRT).

On 8 December 2021, Treasurer Josh Frydenberg announced a digital economy roadmap (Roadmap), which applies to payments and crypto assets.

Australia’s much-admired winemaker, Penfolds, has recently announced its endeavours to partner with BlockBar, a leading non-fungible token (NFT) marketplace for luxury wine and spirit products. An NFT is a unique online token that exists on a blockchain and cannot be replicated.