DT Legal Pty Ltd

03/07/2023

First Home Assistance Scheme update - New FY!

Property contracts made after 1 July 2023, eligible first home buyers will receive an exemption from transfer duty for purchases of new and existing homes up to $800,000 and a concessional rate of duty for homes less than $1,000,000.

NOTE however that first home owners claiming under the scheme must occupy the property for at least 12 months for contracts that exchange on or after 1 July 2023.

First Home Buyer Choice
First Home Buyer Choice (FHBC) is closed and is no longer available for transactions entered into on or after 1 July 2023.

Call our office if you have any questions regarding the changes.

16/11/2022

https://www.abrs.gov.au/director-identification-number/who-needs-apply-and-when

Calling all directors of companies! You must apply for a director identification number by 30 November 2022.

The maximum penalty for failing to hold an ID when required under s1272C of the Corporations Act 2001 is a whopping $1.1M 😕

If you want to become a director or you are already one, you'll need a director ID. When you need to apply depends on the date you first become a director.

07/06/2022

Watch out friends there are new amendments to the Duties Act (the stamp duty people!). Of particular note is duty is imposed on granting of options on purchase of land.
Feel free to reach out if you think you may be affected.

A guide to understand the Amendments to the Duties Act 2022

02/08/2021

Just had a client offer to help me with home schooling if required. Obviously would never burden anyone else with it, but that certainly made my day 😊! 🙏

08/07/2021

NOTICE: 11 October 2021 is the day that all paper Certificates of Title (CTs) will be abolished in place of eCTs. Anyone who has a CT should frame it for historical purposes 😂!

The Office of the Registrar General is managing the concession to ensure integrity, security, performance and availability of the NSW land titles system through a range of oversights, rules and directions, quality assurance and strong engagement with stakeholders.

13/03/2021

It was in 2011 that a little, unknown law firm sprouted in a dusty, small windowless office on Belvedere Lane, Cabramatta. I have fond memories of grabbing a pork roll from the 24-hr bakery for a late dinner whilst working away close to midnight. DT Legal was one of the first firms to embrace online conveyancing and we are proud to now be 100% paperless based. The move was not without its controversy, with other service providers frustrated that we didn't print and send documents the "old fashioned way". But it totally prepared us for 2020 and DT Legal was able to flourish and grow the business despite COVID-19. 2020 was one of our best years and 2021 is set to be an even bigger year. We now serve clients from all four corners of Sydney and regional areas too. Happy 10-year anniversary and thank you to all our loyal clients/supporters who have helped us grow.

David To, Principal Lawyer

25/01/2020

Happy Lunar NY everyone! Thank you for your support throughout 2019. Let's start 2020 year of the Rat on a good note......DT Legal will be making a donation of profits to the Rural Fire Service NSW who are tirelessly working to keep us safe.

12/09/2018

Property tips - September 2018

Spring is officially here (and the Sydney summer weather with it). So for all you spring property hunters here's another free tip:

As a conditional of nearly all Contracts for purchase you will have to accept the condition of the property as at the date that the Contract is signed and made.

As such there maybe times where you would find defects in the property ranging from minor ones (that you can live with) to not so minor ones that you would want the seller to fix for you before settlement.

Although you may think that you have scored yourself a win and saved money if the seller does agree, in our many years of experience this hardly ends well. Sellers hate having to fork out extra money to fix anything and may engage with shonky, unqualified tradespersons to do a "quick fix". Then after you move in and it breaks down you will spend even more money to rectify the problem.

As such it is better to negotiate for a reduction in the purchase price to account for the fair and reasonable cost of repairs to the problems BEFORE signing the Contract. You can then seek out your own tradespersons to do a proper job, all under your supervision.

Of course this does not include instances of major or structural defects which are not acceptable. In those circumstances you should engage in a professional builder and or engineer to investigate further before committing.

Feel free to contact our office if you require assistance in relation to any of the above.

Stay cool and Happy spring hunting!

08/08/2018

Property and Leases Tip July/Aug 2018:

No tips this month - we will be making a donation of our profits to Drought Angels in support of our struggling farmers. Please help out if you can.

https://www.droughtangels.org.au/

In this special edition of 7.30 we travel to Australia’s drought zones to capture the harshness of life on the land when it stops raining, and the unimaginab...

25/06/2018

Property and Leases - Monthly Tip - June 2018:

Buying a Property? Before you sign make sure that you know (or brush up on) your cooling off rights:

1. After both seller and buyer signs and dates Contracts, the buyer ONLY has the right to cancel the Contract before the 5th business day after the Contract is made. Weekends and public holidays are not counted (e.g. if the Contract was signed on the Sat/Sun the cooling off period expires on the following Friday).

2. If you decide to cancel during the cooling off period you will forfeit 0.25% of the Contract purchase price.

3. An extension of the cooling off period is allowed past the 5 days but only if it is agreed in writing by the seller. You cannot rely on the agent's word. It must come in writing from the sellers legal team.

4. You can choose to waive your rights to have a cooling off period but only if your solicitor provides a signed s66W certificate.

5. IMPORTANTLY - there are no cooling off periods if you have bought at public auction. This also applies if the property has passed in at an auction and you sign afterwards on the same day as the auction.

6. LASTLY - cooling off periods do not apply to buying commercial property, only residential property.

If you have any questions please do not hesitate to give our friendly team a call to discuss.

Happy house hunting!

27/05/2018

Property and Leases - Monthly Tip - May 2018:

When signing a Contract with the agent make sure that the buyers named on the Contract are the same as the persons who will be on the title to the property.

If not then you may potentially be liable for more stamp duty.

For example, if persons A and B sign a Contract (and are not related persons for stamp duty purposes) but only A is the person to be on title then an extra 50% of the stamp duty is payable! This is because for stamp duty it is treated as though A has bought out B's share (which is not the case in reality).

Don't be caught by this trap.

Give our office a call to check first before signing and our principal lawyer will be more than happy to guide you through the process.

29/11/2017

We love that the squatter actually tried (but ultimately failed) to dispossess the true owner using the law of adverse possession. Would've been a rich man!

The rundown heritage Redfern terrace at the centre of a bitter legal battle between a squatter who took up possession, planning to renovate it himself, and angry neighbours, is now to be sold off for