A power of attorney is an authority conferred on an individual to act or manage the financial affairs of another as their agent, and is commonly used when property is transferred. Upon signing the contract for sale/purchase the power of attorney is not required to be registered, provided there is a prior executed agreement between...
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Reinstatement of Home Concession and Amendments to First Home Concession
From 1 July 2012, the principal place of residence concession will be re-introduced and the applicable concession rates will be those which were in place prior to the 1 August 2011 amendments. There have also been amendments to the first home owner concession. For contracts entered into after 1 July 2012, there will be no...
New National Business Register
With the enactment of the Business Registration Services Act 2011, as of 28 May 2012 the Australian Securities and Investments Commission (‘ASIC’) took over the registration of business names from the States and Territory departments such as the Office of Fair Trading, which previously provided these services. There is now a single national register which...
Introduction of Personal Properties Securities Register
On 30 January 2012, a national scheme governing security interests over most types of personal property commenced. The new national Personal Property Securities Register (PPSR) consolidates security registers previously operated by the Commonwealth, State and Territory governments into a single register. Broadly, a personal property security interest occurs when a person or company takes an...
Assistance measures activated following storms and flooding
Joint State and Federal Government-funded assistance measures have been activated for the Sunshine Coast, Fraser Coast, Gympie and Moreton Bay council areas following recent storms and flooding. Emergency Services Minister Neil Roberts said the Natural Disaster Relief and Recovery Arrangements would help the four councils cover the cost of their counter disaster operations. Assistance for...
Importance of Advanced Health Directives
If you become seriously ill or unconscious or are no longer able to make decisions, you may be unable to communicate your healthcare decisions. An advance health directive allows you to plan what medical treatment or health care you would like in the event that you cannot make decisions for yourself. You can even appoint...
Duplex Management Simplified
New rules for duplex owners will simplify the day-to-day management of their properties. The regulation, which commenced on 28 February 2012, allows decisions regarding the management of a duplex to be made by agreement between the owners of the two lots in the duplex, instead of having to go through a formal body corporate meeting...
Fraud Week – 19 – 25 March 2012
Fraud and scams can strike a business at any time, and Fraud Week served as an opportunity for everyone to review personal and business financial security procedures. An initiative of the Australasian Consumer Fraud Taskforce (ACFT), it also raises awareness on new types of fraud and scams which have recently surfaced. Slam scams! Press delete,...
Lifting the standards on early childhood education
Queensland Parliament aims to improve early childhood education with the passage of the Education and Care Services National Law (Queensland) Bill 2011. The new Act will apply to more than 2600 early childhood services in Queensland with the new National Quality Framework which commenced on 1 January 2012. The framework includes a quality rating system for...
Unaccompanied learners to lose
Learner drivers found driving unaccompanied will lose their licence under proposed new road safety rules. Under current rules, learner drivers are issued with four demerit points when successfully gaining their learner plates. If they are found driving solo they are issued a $160 fine and lose one demerit point. In the period May 2010 to...