Legal Insights
Changes to the First Home Guarantee Scheme: What does it mean for first homebuyers
From 1 October 2025, changes to the Home Guarantee scheme will come into effect for Australians looking to purchase their first home. The scheme will allow all first home owners eligible under the scheme to purchase a property with a 5% deposit with no income eligibility requirements and increased price caps on the value of property.
Real Estate and Property Development businesses subject to Anti-Money Laundering
Criminals have long used real estate as a way of laundering or concealing funds – not only can they get that trophy house, a real estate purchase allows a large amount of money to be laundered in a single transaction.
When does our law firm need to do customer due diligence for AML/CTF?
One of the biggest shifts for law firms under Tranche 2 of the anti-money laundering (AML) and counter-terrorism financing (CTF) regime will be undertaking customer due diligence (CDD) before acting.
What does an AML/CTF program look like for a small to mid-sized law firm?
Every law firm that provides a “designated service” must establish and maintain an anti-money laundering (AML) and counter-terrorism financing (CTF) program. Think of it as the rulebook your firm writes for itself, setting out how your firm identifies, assesses and manages AML/CTF risk.
What exactly counts as a “designated service” for law firms (and what doesn’t)?
It is important for law firms to obtain clarity on what services are captured by the anti-money laundering (AML) and counter-terrorism financing (CTF) regime.
Will law firms actually be captured by AML/CTF Tranche 2 - and when?
For years, Australian law firms have heard rumblings about anti-money laundering (AML) and counter-terrorism financing (CTF) rules extending to the legal profession. With the passing of the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 (Cth) (Act), those rules are finally here.
What does an AML/CTF Program look like for an accounting practice?
Every practice providing designated services must develop an AML/CTF program. Think of it as your playbook for managing money-laundering risk.
What does an AML/CTF risk assessment look like for an accounting firm
The risk assessment is the cornerstone of your AML/CTF obligations.
Anti-money laundering - what is a “Designated Service” for accountants (and what isn’t)?
The AML/CTF regime uses a ‘designated services’ model for regulation. This means that regardless of branding or occupation, if a business provides one or more Designated Services as set out in the Act, they are regulated under the regime.
Will my accounting practice be captured by Anti Money Laundering regulation - and when?
Internationally, the professions - accountants and lawyers, have been consistently characterised as “gatekeepers” and “professional enablers” of crime and corruption – remember the Panama Papers?
With the passage of the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 to providers of certain professional services, these ‘Tranche 2” entities – including many accounting practices – will become regulated by Australia’s Anti-Money Laundering regime from 1 July 2026.
Harwood Andrews Agribusiness Practice Ranked In Doyles Guide, Victoria 2025
Harwood Andrews is delighted to have been identified by clients and peers for expertise and abilities for Victoria in the 2025 Doyles Guide.
Harwood Andrews Wills And Estates Practice Ranked In Doyles Guide, Victoria 2025
Harwood Andrews is delighted to have been identified by clients and peers for expertise and abilities for Victoria in the 2025 Doyles Guide.
Broad Powers, Unintended Consequences: Trustee's Authority to Remove Appointor Upheld
Appropriately considering the successive control of discretionary trusts, at both a trustee and an appointor level, is a critical component in succession planning. The recent Queensland Court of Appeal decision of Staley v Hill Family Holdings Pty Ltd highlighted this, after broad variation powers resulted in the removal of an appointor by a trustee which could have been avoided had the succession of the trust been properly addressed.
When love ends but bills don’t: What is Interim Spousal Maintenance?
After a relationship breakdown, one of the most pressing concerns for a separated person is often how they are going to be able to financially support themselves going forward. This is particularly so if it is now down to them alone to meet their bills and living expenses which were previously shared with or paid by their former partner.
Upcoming changes to the Retirement Villages Act 1986 (Vic)
A review has been conducted of the Retirement Villages Act 1986 (Vic) (Retirement Villages Act) based on community feedback that the current legislation does not provide adequate protection for retirement village residents. The new laws offer greater safeguards and regulation of many aspects of retirement villages and residence contracts for retirement villages. The changes are extensive, however we have detailed below some of the significant changes.
Franchising Contracts and Good Faith – Beecham Motors Pty Ltd v General Motors Holden Australia NSC Pty Ltd
The Victorian Supreme Court’s decision in Beecham Motors Pty Ltd v General Motors Holden Australia [2025] VSC 125 highlights the importance of precise contractual drafting. Beecham Motors, a Holden dealership, sued GM Holden after General Motors announced the Holden brand’s exit from Australia, disrupting their contract.
This recent decision emphasises the need for clear, precise contract terms rather relying on good faith to give effect to uncertain terms.
Sim – Victorian Foreign Purchaser Additional Duty Triggered by the Spouse of an Australian Citizen
Foreign purchasers living within Australia must be aware of important requirements to fulfill a section 69AJ exemption under the Duties Act 2000 (Vic). The case of Sim v Commissioner of State Revenue [2025] VCAT 349 highlights how all requirements of section 69AJ must be met to receive an exemption to the foreign purchaser additional duty.
New Penalty Tax for Recklessness
The Victorian Government has introduced a new 50% penalty tax for cases of recklessness under state tax laws, as part of the 2025–26 State Budget measures. This penalty applies where a taxpayer or their advisor is found to have acted recklessly, causing a tax shortfall or failing to meet notification requirements.
Previously, penalties ranged from 25% (negligence) to 75% (intentional disregard). There are concerns that this new penalty could be unfairly applied in complex cases, especially involving trusts or foreign interests, where rules are often misunderstood.
Aged Care Restrictive Practices, A New Regime
The Aged Care Restrictive Practices Substitute Decision-maker Act 2024 (Vic) (the Act) came into effect on 1 July 2025. The Act will only apply to Victorian residents.
Harwood Andrews July 2025 Promotions
Harwood Andrews is proud to announce two well-deserved promotions effective 1 July 2025.