A1 Conveyancing based in Joondalup & Osborne Park Perth Western Australia
Call Us At: 08 9300 9750

Trade Secrets

Australians must establish new PayID on the New Payments Platform to speed up transactions

2/6/2018
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SPEED up your banking and transfer money using an email, phone number or ABN. Here’s how to get started. BANK customers will need to set up a PayID as a matter of urgency, to stay up to date with new technology set to arrive in Australia.In the coming weeks financial institutions around the country will start pushing out the highly-anticipated New Payments Platform (NPP), which will deliver 24-hour, seven-day-a-week, instant transfers.It means consumers will no longer need to share their...

Sympli-New e-Settlement Platform on the horizon

31/5/2018
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Sympli – New e-Settlement Platform on the horizonInfoTrack and the ASX Limited have announced the establishment of Sympli, an alternative electronic settlement platform. The new platform is expected to roll out later this year once it has received regulatory approval.For further information see:Today’s press releaseSympli website

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...

GST Remittance – Withholding weighted on Buyer

17/5/2018
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On or after 1 July 2018, certain purchasers of new residential premises or potential residential land will be required to withhold an amount from the price of the supply for payment to us. Note: When we refer to purchasers we are also referring to lessees under long-term leases. The withholding amount is due on or before the day that consideration for the supply (other than a deposit) is first provided. If the contract is an instalment contract that will be...

WA 18-19 budget impact on property market.

11/5/2018
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Thanks to the R.E.I.W.A. in depth analysis… ‘Business as usual’ budget fails to reinvigorate property market. REIWA welcomes the WA Government’s decision not to increase property taxes, but is disappointed in the distinct lack of leadership on display in the 2018-19 State Budget, with no new initiatives included to address housing affordability or reinvigorate the property sector.  REIWA President Hayden Groves said while it was pleasing there were no increases to property taxes, this year’s budget was a mundane budget...

Land Tax: that time of year.

10/5/2018
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Information for settlement agentsSource: 10/5/2018 Department of Finance website HERE“The formal billing schedule for land tax assessments is generally between October and December each year. As such, a ‘Certificate of Land Tax Charges’ issued prior to an assessment will always be an estimate.Consider whether any exemptions may apply to the property being sold. Single ownership rate of land taxA ‘Certificate of Land Tax Charges’ will include both the proportionate land tax and the single ownership figure. If you are a managing...

Author, Damien McDonnell

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Damien McDonnell betrothed to my first true love & father to 5 fantastic little persons and one food obsessed beagle.

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