Author: Tom Wood

2 July 2020

Commercial Leases and COVID-19

If you are a tenant facing difficulties due to the pandemic, or a landlord being approached by a tenant, the first step should still be communication, as I mentioned in my post on 25 March 2020 HERE. The Queensland state government has now enacted the COVID-19 Emergency Response Regulation, applying to landlords and tenants of […]

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8 May 2020

Price reduction? Make sure you get transfer duty reduced as well!

The contract price is one of the most fundamental parts of a contract, whether for a house, unit, land, commercial or industrial property, or a business. Sometimes parties to a contract want to agree to reduce the price after the contract is signed. Maybe unexpected major problems have been revealed by due diligence or building […]

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25 March 2020

Commercial Lease obligations in a pandemic

To say that commercial landlords and tenants are facing challenging times is an understatement! The effects of the novel coronavirus COVID-19 are pushing countless businesses to the limit. The lease relationship is crucial to the businesses and finances of both landlords and tenants, and the lease document is at the centre of this. The age-old […]

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12 November 2019

Contracts – the fine print

“It’s better to do it now and ask for forgiveness later”. You may have heard this expression. Have you ever wondered how it can turn out? In the Queensland Supreme Court, a recent Court of Appeal decision has slapped down a land buyer who installed solar panels on a house without first getting the seller’s […]

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28 September 2018

State Government valuations of your property – not always black and white

Statutory land valuations are the basis for the calculation of: Land tax Council rates State leasehold rents. How are the valuations decided? Generally: All land is valued based on a freehold value, even if it is leasehold. Each legal Lot is valued, although the Valuer-General also has the power to declare particular parts of a […]

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20 August 2018

SMSF news – update on the ‘sole purpose test’ in the Aussiegolfa case

Last week the full Federal Court handed down its decision in Aussiegolfa Pty Ltd (Trustee) v Commissioner of Taxation [2018] FCAFC 122, a case concerning the in-house asset rule and sole purpose test for SMSFs. Tom Wood has discussed the implications of this below. What is the in-house asset rule and the sole purpose test? […]

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11 May 2018

2018-19 budget – what tax deductions & concessions are out the door?

The only thing certain in life is death and taxes – so what is set to change? Some of the key changes from the 2018-19 budget that may affect our clients are listed below. Tax deductions on vacant land – better start that build From 1 July 2019, taxpayers will not be able to claim […]

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10 May 2018

What is an Easement?

An easement is a legal right that attaches to land or a part of land (the Burdened Land) and allows a benefiting party to use the land in a particular manner. An easement may be granted from the Burdened Land in favour of: Another property, such as allowing a neighbouring property to use part of […]

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10 May 2018

What if I need an easement to be registered on somebody else’s property?

From time to time, it happens that you may need to register an easement on someone else’s property. For example – You might have your services (water, sewerage, electricity, telecommunication etc.) running through a neighbouring property to get to your property; or You might not be able to access the road unless you travel over […]

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26 April 2018

New Protections for Farmers against big Banks

From 1 July 2018, the Farm Business Debt Mediation Act 2017 (Qld) “the Act” will bring about restrictions on mortgagees taking enforcement action under a farm mortgage until parties have conducted mediation. The purpose of the legislation is to provide an efficient and equitable way for farmers and mortgagees to resolve matters relating to farm […]

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