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Commercial Law
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When purchasing a residential property, the buyer generally has a 5 business day cooling off period after exchanging the contracts. During the cooling off period, the buyer can rescind (cancel) the contract and purchase of the property and will only have to pay the seller 0.25% of the purchase price.
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Changes to the law in June 2016 meant that foreign persons acquiring residential property in NSW were liable to pay a surcharge on the usual stamp duty payable on the purchase. If a foreign person owned a residential property from 31 December 2016, they were also liable for a land tax surcharge and are not...
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The Supreme Court has today delivered judgment providing judicial advice to the trustees of the NSW Rural Fire Service & Brigades Donations Fund. Simply put, the trustees (being the people in charge of distributing the fund) asked the Supreme Court for binding advice to determine whether they could use the funds raised by Celeste Barber’s...
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National Cabinet Mandatory Code of Conduct – SME Commercial Leasing Principles During COVID-19 On 7 April 2020, the National Cabinet released its Mandatory Code of Conduct (Code) to assist commercial landlords and tenants manage existing leasing arrangements in response to the commercial disruption caused by the Coronavirus Pandemic. The Code applies where a tenant is...
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