www.legalexchange.com.au

08/08/2025

One of Australia’s Big Four banks has increased its home loan interest rates in a shock move that goes against the grain, just as another Big Four bank dropped theirs. See more: https://bit.ly/4mxnD0B

08/08/2025

‼️👀🔥

The president signs an order aimed at expanding the kinds of investments allowed in retirement accounts.

30/07/2025

Last week, OpenAI’s CEO Sam Altman said in a podcast that ChatGPT does not provide legal privilege or ‘legal confidentiality’ and ‘we haven’t figured that out yet’. Understandably that’s frea…

30/07/2025

Bowel cancer is Australia’s 2nd biggest cancer killer but if detected early, it can be successfully treated in over 90% of cases.

If you’re aged 50-74, a bowel screening kit will be mailed to you every 2 years.

If you’re 45-49, you can request a kit from the National Bowel Cancer Screening Register.

Detect it early. Do the test 👉 bit.ly/BCS-DoTheTest

30/07/2025

Buying second-hand to save money? Keep in mind that most consumer guarantees DON’T apply to private sales between two people.

Refunds? Nope.
Replacements? Unlikely.
Repairs? Don’t count on it.

Find out what consumer rights you do have and how to check that second hand products are safe here: https://www.productsafety.gov.au/consumers/know-your-product-safety-rights/buy-safe-second-hand-products-online

11/06/2025

Today marks a significant moment as amendments to the Family Law Act in relation to property settlements are now in effect.

The reforms are a significant step towards enhancing the economic security and wellbeing of women and children.
Key changes to the Family Law Act include:
- Making clear that the effect of family violence is a relevant consideration in property settlement decisions
- Expressly including ‘economic or financial abuse’ within the definition of family violence, and identifying dowry abuse as an example
- A new framework for determining ownership of family pets (companion animals) in property settlements
- Removal of the requirement for divorcing couples to engage in counselling

Read more about the changes or download the fact sheet on the Attorney General's website here:
https://lnkd.in/e-tvwP4m

Family law changes from June 2025: Information for family law professionals You are here Home Families and marriage Families and Marriage Publications Family law changes from June 2025: Information for family law professionals Print Families and marriage Families Family Dispute Resolution Family Law...

11/06/2025

The Australian Transaction Reports and Analysis Centre has rolled out new rules for crypto ATM operators, which include transaction limits.

02/06/2025

Working on the Age Pension: The Ground Rules​

So, can you still work and get the Age Pension? The short answer is yes – the rules allow it, within limits. The key is something called the Work Bonus, which is designed to let pensioners keep more of their pension while working. In a nutshell, the Work Bonus means your earnings from work are partly ignored (“discounted”) under the pension income test. Here’s how it works in practice:

$300 fortnightly exemption: The first $300 you earn from work each fortnight does not count toward the Age Pension income test. In plain terms, you can earn up to $300 every two weeks ($150 per week) and it won’t reduce your pension at all.

Income bank for unused amounts: If you earn less than $300 in a fortnight, the unused portion (say you earn $0, $100, etc.) gets added to your Work Bonus “bank”. This bank can build up to a maximum of $11,800 in credits. These credits will accumulate over time if you’re not working, and they can be used later to offset higher earnings in a busy period. (Before recent changes, the cap was $7,800, but the government boosted it by a one-time $4,000 for new pensioners as of late 2022, effectively increasing the limit to $11,800.)

One-time $4,000 boost for new retirees: If you reached Age Pension age and started on the pension recently, you probably received a $4,000 credit added to your Work Bonus bank automatically. Since 1 January 2024, every new Age Pensioner gets this upfront $4k boost to encourage workforce participation. It’s essentially a head-start in your income bank, letting you earn up to $11,800 from work before your pension is touched.

Use it or save it: When you do work and earn money, any available credits in your Work Bonus bank will be used first to offset that income. For example, if you’ve built up $1,000 in your bank and then earn $1,300 in a fortnight, the system will subtract $1,000 (using your credits) so that only $300 counts as “income” for the pension test. If your work income is below $300 in a fortnight, it’s fully offset (reduced to zero for the income test) and any unused part of that $300 allowance just goes into your bank for the future. This is handy if your work is irregular – you get a buffer for the busier times.

Retirement isn’t always a full stop to earning an income. Plenty of older Australians keep working — some for financial reasons, others for social connection, personal fulfilment, or simply because they enjoy it. But how does paid work affect your Age Pension? That’s where things can get...

01/06/2025

⁉️👀🔥🇦🇺

10.1K likes, 883 comments. “ ”

31/05/2025

From the article: "The purchases of more than 150 inner-city apartment buyers are up in the air after receivers put their unfinished building up for sale."

Buying off the plan really is a minefield as the purchasers don't have huge capital and teams of lawyers to fight the developer when things go wrong...

Any thoughts?

As always please be respectful, inclusive and polite to others. This is for the purpose of encouraging discussion and I am not advocating a particular position. If you found this post useful, follow me and tap the all posts 🔔 on my profile to receive more of my posts in your feed.

https://lnkd.in/gisGEeXG

Mystery surrounds the fates of hundreds of Aussies after they invested millions of dollars into a project that has collapsed, taking their investments with it.

31/05/2025

Australia needs a National “ Earthquake & War Damage Commission “ now “ Natural Hazards Commission “)similar to what New Zealand has ⁉️( which was so successfuly used after the Christchurch earthquake ⁉️) see https://lnkd.in/g7gCgHXE

* if this isn’t done insurance will become too expensive and unsustainable ⁉️⁉️⁉️ https://www.linkedin.com/posts/alex-tees-b4b73510_australia-begins-cleanup-after-floods-kill-activity-7332523488773099520-hK5K?utm_source=share&utm_medium=member_ios&rcm=ACoAAAI-bysBf9P6EurGwKCXjao_wZ8IO97c_uA

If you’ve been affected by the NSW East Coast severe weather, you may be eligible for a one-off payment to help with essentials.

What support is available:
• $180 per eligible individual
• $180 per eligible dependent (up to $900 per household)

For information on impacted suburbs and to apply, visit bit.ly/ServiceNSW-PHA

📷 Westpac Lifesaver

31/05/2025

Australia needs a National “ Earthquake & War Damage Commission “ now “ Natural Hazards Commission “)similar to what New Zealand has ⁉️( which was so successfuly used after the Christchurch earthquake ⁉️) see https://lnkd.in/g7gCgHXE

* if this isn’t done insurance will become too expensive and unsustainable ⁉️⁉️⁉️