Author Archives for admin

Electrical Safety Certificates vs Electrical Condition Reports

4/10/2016
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The National Electrical and Communications Association (NECA) have previously published information regarding the issuing of electrical safety certificates.  NECA has received confirmation via email from the Department of Commerce stating the following:“Safety certificates are not to be issued unless it is installation work as described in the Electrical (licensing) regulations 1991 section 52B. Going to a property and ensuring correct operation and that the premises complies to the legislation is not installation work. The form is an official certificate and...


Remain vigilant

4/8/2016
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Reminder to stay vigilantAICWA Members continue to be plagued by scammers looking to have their malicious malware and trojan viruses infect your computer. These emails can seem to originate from credible sources but after careful examination all is not as it appears to be! Things to be on the lookout when receiving an email are: Attached Zip Files Email addresses that do not match the sender’s details. Typically the sender’s email address will have the name of the company/agency Trust...


Fee Deregulation – what it means to you. Beware of hidden extra fees.

3/2/2016
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As of 3rd February 2016, the regulation of Scaled Settlement Agents’ capped fee has ceased. Settlement Agents are now able to charge their worth for their services in executing the transaction. The new fee disclosure rule in found in the rule 6B & unforeseen significant change for scope of work under 6C of the Settlement Agents Code of Conduct & Act.  Removing the ‘Maximum Scale’ and de-regulating fees has allowed Settlement Agents greater flexibility to cater to the differing needs of...


Foreign resident capital gains withholding payments

2/29/2016
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Background: The former government announced on 14 May 2013 that it would introduce a 10% non-final withholding tax on payments made to foreign residents that dispose of certain taxable Australian property. The Bill for this measure, introduced by the current Government has been passed and received Royal Assent on 25 February 2016. The new withholding regime will apply to contracts entered into on or after 1 July 2016. Broadly, where a foreign resident disposes of certain taxable Australian property, the purchaser will...


Garnishee Order

2/2/2016
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A garnishee order is an order issued by the Court requiring the party to whom the order is addressed to make payments in satisfaction of a judgment debt to the judgment creditor. (Some courts now refer to garnishees as money redirection orders). The third party to whom the order is addressed is the “garnishee”. Under a garnish order the garnishee is directed to pay money that would ordinarily be payable to the judgment debtor directly to the judgment creditor or...