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Sun Sets on Sunset Clauses
The Queensland State Government has brought in changes to strengthen protection for buyers involved in “off-the-plan” property contracts. Off-the-plan land contracts often include a clause that allows for the contract to be terminated if a certain event does not happen by the “sunset date”, known generally in the industry as a sunset clause. Previously, a...
Collaboration: the key to managing complex legal matters
How we manage complex legal matters At Galleon Law Group, we offer a curated selection of legal services that are intended to protect your interests across multiple areas of the law. Our highly regarded team of skilled and accredited professionals works to ensure every aspect of your legal needs are met with the utmost attention...
How to reduce the risk of litigation
Understanding your legal risk is essential When you’re in business, it’s important to understand your levels of legal risk and how to avoid them. One of the most common areas of risk for any company is contracts. It can be a failure to review a contract properly, or to meet a deadline outlined in the...
Introduction to SMSF borrowing funds and loans
Self-Managed Superannuation Funds (SMSFs) are a cornerstone of Australian superannuation, empowering individuals with the autonomy to manage their retirement savings directly. A critical evolution in this domain was the amendment to the Superannuation Industry (Supervision) Act 1993 (SIS Act) in 2007, which facilitated SMSFs to engage in Limited Recourse Borrowing (LRB) arrangements. This innovative financial...
Changes to the Foreign Resident Capital Gains Withholding (FRCGW)...
From 1 January 2025, the Australian Government introduced significant updates to the Foreign Resident Capital Gains Withholding (FRCGW) regime. These changes to FRCGW aim to enhance the Australian Taxation Office’s (ATO) ability to collect Capital Gains Tax (CGT) liabilities from foreign residents selling Australian property. These updates will impact both sellers and buyers, making it...
Unlocking the commercial potential of long-held properties
For property owners in Australia, particularly those who have retained ownership since before 1985, there are significant opportunities to unlock the full potential of their assets. These opportunities stem from capital gains tax (CGT) laws, which introduced sweeping changes in 1985. For properties classified as pre-CGT assets, strategic planning can result in tax-effective realisation of...
Preventing Family Provision Claims
A family provision claim is a legal action brought by someone looking for a share of a person’s deceased estate, when they believe they have not been adequately provided for. Can a Will be contested? There is no way to stop someone from contesting a Will or making a family provision claim in Queensland. Anyone...
Changes to franchising
The Federal Government has recently announced its support for several recommendations made following the 2023 review of the Franchising Code of Conduct. New draft code coming in 2024 A new draft of the Franchising Code will be released later in 2024 and is expected to be implemented from April 2025. The Australian Competition and Consumer...
Why you need a commercial leasing lawyer
As Brisbane races towards the 2032 Olympic and Paralympic Games, construction in the city is heating up, and a commercial leasing lawyer is more essential than ever. Surging demand for office space in Brisbane New research from Colliers suggests the River City will need an extra 11 towers built to cater for the surge in...
Buying waterfront property
It’s the dream of many Queenslanders to have a home right on the waterfront, with access to your very own jetty or pontoon. Before diving into purchasing a property with water access, there are a few legal issues to consider. Leasing arrangements for jetties and pontoons Firstly, what are the leasing arrangements for the jetty...
Buying a business in Australia: 3 hidden red flags you can’t afford...
Why buying a business in Australia requires due diligence One of the best financial decisions you can make is buying a business in Australia. After all, it’s a lot less stressful compared to starting a business from the ground up. There is already a set location, trained staff and most importantly, a client base already...
How do I turn my business into a franchise?
Franchising in Australia Franchising is a popular business model in Australia, where the franchisee buys the rights to operate a business using the name, brand, product and services of an already established business. In return, the franchisor provides resources and support to each of the franchisees. Planning to franchise your business Turning your business into...