1 January 2018 saw the introduction of a residential land tax to homes in inner and middle Melbourne that were vacant for more than six months in the preceding calendar year.
From Microbreweries To Garden Cafés – An Overhaul Of The NSW State Planning System Reflects The Changing Face Of The Retail Sector
Australia has not been immune from the recent global changes to the retail sector. The growing success of international heavy-weight bricks-and-mortar retailers and e-commerce retailers has significantly impacted the Australian retail landscape. In August 2018, the NSW State Government introduced improvements to the retail land use definitions, that modernise NSW’s planning laws to reflect contemporary retail practices.
MST Lawyers is delighted to report that the Justice Legislation Miscellaneous Amendment Act 2018 (Vic) (Act) was passed by the Legislative Council on 18 September 2018 and received Royal Assent on Tuesday of this week.
This is great news for Victorian real estate agents as it provides certainty moving forward in relation to the question of whether rebate statements complied with the legislative requirements of the Estate Agents Act 1980 (Vic) and, more importantly, the effect of non-compliance on the ability of an agent to sue for or to retain commission.
On 1 July 2018, new Ipso Facto provisions introduced into the Corporations Act 2001(Cth)(The Act) by the Treasury Laws Amendment (2017 Enterprise Incentives No 2) Act 2017 (Cth) commenced as part of the Federal Government’s insolvency innovation reform packages. The new provisions have altered the contractual rights of parties against insolvent counterparties by imposing a stay on the enforcement of Ipso Facto clauses, preventing the termination of a contract upon the occurrence of certain insolvency events. The new provisions apply to nearly all contracts, agreements and arrangements entered into on or after 1 July 2018. However, some contracts and contractual rights are excluded from the operation of the provisions pursuant to statutory instruments.
Given the infancy of the new regime, many companies are yet to fully grasp the changes or the implications for their businesses and what may be required to protect their commercial interests appropriately. The nature of the changes may alter the way you do business with your customers or contract with your clients, so it is important that you understand both the changes and the measures required to mitigate the potential risks to you and your business.