Categories for Warning

Cyber thieves are clever. They target lawyers because we direct transfers of money and they want to steal it.

25/5/2018
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DON’T FALL FOR IT!Be suspicious of email instructions.Cyber fraudsters will get in any way they can. Make sure it’s not through you.Five steps to protect yourself.Identify – Don’t accept email requests on face value. The email asking you to re-direct money might look genuine, but it could have been sent by a hacker.Verify – Call the sender personally to check authenticity. Use a number you know, not one suggested in the email. Ask for the account number, write it down, then compare...

Dial & verify, before you Transfer funds!

23/11/2017
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Another successful middle-man-scam in WA- this time on payment of Contract Deposit to Real Estate office…Would suggest clients ‘Call to verify (only on the known public listed office number -not the one presented in the email-could be altered) before they transfer funds’…“Another Settlement Agent Posted 1 hrAnother successful hacking! 🙁  My client received an email from the Real Estate Agent to transfer the deposit pursuant to the Contract of Sale. Shortly thereafter he received a follow-up email changing the account name and...

Launch of Property Reporting Online service

18/10/2017
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New Commonwealth Government legislation came into effect on 1 July 2017 requiring more information to be provided to the Australian Taxation Office (ATO) when ownership of a property changes. This applies to all buyers and sellers across Australia. The requirements are a COAG initiative to enable the ATO to develop consistent and comparable datasets in the national database, which will reduce tax error and increase tax compliance.   Every state and territory is implementing the data collection in accordance with individual...

Foreign Investment change

9/6/2017
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New Charge for Foreign Owners for Empty Properties Foreign persons who apply for approval to purchase residential property after 9 May 2017 will face a new annual vacancy charge to be imposed if the property is not occupied for at least six months per year.The charge will be levied annually and will be equivalent to the purchase application fee imposed at the time the property was acquired by the foreign investor.Details of the new charge can be viewed HERE FIRB approval for sale of...

Developers take heed. Update to changes to the Sale of Land Act- means some extra protection for buyers, where property is not yet owned by the developer.

4/5/2017
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Update to e-Bulletin Issue #66On 3 April 2017, the Sale of Land Amendment Act 2016 (the Act) came into effect in Western Australia.  The legislation introduces greater protections for consumers when signing sales contracts for land that is not yet owned by the developer.  Landgate have now clarified and updated information that was previously communicated which also includes variation to the Approved form of the statutory warning that must be used.  This e-Bulletin replaces issue 66 Changes to the Sale of Land Act – what...