The Australian Government recently announced upcoming changes to the Foreign Resident Capital Gains Withholding (FRCGW) tax regime, the consequences of which will affect all sellers of real property, both in Queensland and throughout Australia generally. What is the FRCGW tax regime? The purpose of the FRCGW tax regime is to ensure that foreign residents disposing of real property in Australia meet their tax liabilities in relation to the sale of their property. How does the current FRCGW tax regime work? Under the current regime, a buyer of a property with a purchase price of $750,000 or more has an obligation… Continue Reading
In a significant legislative move, the Property Law Act 2023 (The Act) has been approved by Queensland’s Parliament, marking a fundamental change in the state’s property laws. Replacing the 50-year-old Property Law Act 1974 (Qld), the Act will introduce substantial modifications aimed at simplifying, streamlining, and modernizing the existing legal framework. Although the Act passed through Parliament on 25 October 2023 and received royal assent on 2 November 2023, its commencement awaits an official proclamation. The anticipated delay in commencement is a strategic decision, allowing for extensive consultation, the formulation of new regulations, educational initiatives, and preparatory work by stakeholders… Continue Reading
The Queensland Government introduced the Body Corporate and Community Management and Other Legislation Amendment Bill 2023 (“Bill”) to the Queensland Parliament on 24 August 2023. This legislation aims to reform Queensland’s body corporate regulations, primarily governed by the Body Corporate and Community Management Act 1997 (“Act”). The Bill is not yet law, but its adoption is not far away. The Parliament Legal Affairs and Safety Committee recently released their report regarding the Bill and recommended the Bill be adopted. Termination of Schemes A significant change proposed by the Bill is the introduction of the termination threshold of 75% in cases… Continue Reading
Can I Record My Ex?
Recording Conversations & Family Law Proceedings Understandably, circumstances may arise where you want to record a conversation with another person. You may wish to retain an accurate record of what was said or have something tangible to rely upon in the future that supports the existence of an issue or concern. The desire to rely upon a recorded conversation may seem particularly critical if you are involved in family law proceedings. However, while it may be tempting to record conversations with another person (typically an ex-partner or relevant third party) to use as evidence in family law proceedings, it is… Continue Reading
ABKJ Lawyers has extensive experience with body corporate matters. Whether your community title scheme is subject to the BUGT Act or the BCCM Act, we can help you resolve any body corporate issues
When acting in estate matters, lawyers occasionally encounter situations where wills have been inadvertently tampered with by will-makers during the period of storage since the will was signed.
The Queensland Government is poised to introduce a significant change in the approach to property transactions with the introduction of a seller disclosure regime for land sales.
The option agreement is entered into between the seller of the property (usually known as the grantor) and the buyer of the property (usually known as the grantee). The grantee has a call option which would compel the grantor to sell the property at an agreed price if the call option is exercised. If the call option is not exercised, then the grantor has a put option which would compel the grantee to buy the property at the agreed price.
Sports and sponsorship have always gone hand in hand – modern athletes continue to make eye-watering amounts of money from sponsorships and endorsements, in some cases more than they’re being paid by their teams to play. While there is serious money being paid to athletes for their endorsements, there is also serious financial and reputational implications for companies when the athlete endorsing them brings their brand into disrepute through adverse conduct.
Recently, ABKJ Lawyers were able to help yet another client achieve a positive outcome in what could be considered a landmark case in the area of construction law. The Court’s decision in that matter set a precedent to assist in determining various principles that must be adhered to in order for construction payment claims to be considered valid.
