Legal Insights
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.
Gift and Loan Arrangements – There is more you should know
When considering asset protection, gift, loan and mortgage arrangements are a key strategy, particularly in the context of protecting assets against creditor or insolvency claims as well as parents providing financial assistance to adult children. The effectiveness of the strategy relies upon ensuring that that agreement is correctly documented and implemented.
Harwood Andrews Dispute Resolution and Litigation Practice Recognised in Doyles Guide, Victoria 2025
Harwood Andrews Dispute Resolution and Litigation team is delighted to have been identified by clients and peers for expertise and abilities for Victoria in the 2025 Doyles Guide. Doyles Guide is a highly regarded independent annual peer review of the leading corporate law firms and lawyers in Victoria.
Lost Trust Deeds – What are your options?
Losing an original trust deed creates issues. Replacing the deed may trigger tax implication, deed of ratification poses challenges and seeking court advice is costly and complex. Robust systems are crucial.
The implications of Malcolm on Land Tax Joint Assessment
The recent decision of Malcolm v Commissioner of State Revenue [2025] VCAT 218 has impacted the State Revenue Office’s interpretation of section 38(2) of the Land Tax Act 2005 (Vic).
Sec New Line Pty Ltd v Muffin Break Pty Ltd – Franchisor Obligations and their Impacts on Franchisees
The recent Supreme Court decision of Sec New Line Pty Ltd & Anor v Muffin Break Pty Ltd has provided interesting insight into franchisor obligations, specifically whether there is a requirement to inform franchisees of important facts relating to their lease agreements.
The decision focused on two main questions – whether a franchisor is required to inform a franchisee about important changes to their lease agreement, and does reinstating a property’s condition require de-fitting?
Navigating Company Restructuring: Restructuring of Companies by Specialist Advisers and its Associated Risks
The case of Connelly (liquidator) v Papadopoulos, in the matter of TSK QLD Pty Ltd (in liq) (TSK) [2024] FCA 888 provides important insights into the serious implications for directors and officers of companies and professional advisers involved in the restructuring of companies when later found to be asset-stripping schemes. When restructuring, companies must conduct thorough due diligence and plan for a smooth transition to mitigate operational risks.
The Impacts of Division 296 – Is it coming back?
While some industry voices call for a deferral, with Labor’s recent election win and more favourable senate, commentators have raised that it could be likely that the proposed Division 296 tax will commence on 1 July 2025.
Affected individuals should evaluate whether to act now or wait, depending on personal circumstances. Options include withdrawing super before or after the start date or doing nothing if modelling shows better long-term outcomes. Each option should be carefully considered based on individual’s financial situations.