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Due Diligence Needed Before Buying a Property

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ConveyancingIf you have a certain property in mind that you want to purchase, are you also willing to start with the actual business of purchase; the pre-settlement inspection, the conveyancing bit, the signing of the contract of sale and so on?

As an investor you most likely would want to know all about the rental yield of the neighbourhood, the comparable sales figure, the history of capital growth, zoning restrictions (if any), among other things. You will find that it is wise to ask a few more questions as part of your sue diligence.
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Title Insurance is Indispensable

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title insuranceOn even limited introspection anyone can figure out what Title Insurance is likely to be. Its a policy that insures you against costs arising out of vendor folly after the conveyancing process is completed. Vendors, fearing termination of contracts, sometimes hide major issues like illegal constructions, lack of council approvals, fixed-term leases, encroachments or easements. The list is not exhaustive by a long margin.
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What happens to a property sale if leases and options were not disclosed?

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sale contract of landFirst home buyers/owner-occupiers and investors approach a property with different mindsets. While the latter is not too worked upon immediate possession or an undisclosed lease, the former might want to move in immediately. Naturally, the prospective FHB or owner-occupier likes to know all about the term of the lease (periodic or fixed), details of possession (vacant or tenanted) and whether the lease document is precisely reflected in the Contract of Sale.
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All You Need to Know About Voluntary Bankruptcy

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Businessman with a suitcase wrapped in chainsBankruptcy applies to individuals just as the term Liquidation or Administration applies to organisations. There are two ways to attain the bankruptcy tag. Either your creditor, dismayed by your continued defaults, forces the bankruptcy label on you or you yourself decide on voluntary bankruptcy.
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Franchising Code Of Conduct Changes in 2014

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franchise agreementThe website of the treasury section of the Australian Government has published information on the franchising code of conduct. The “future of franchise statement” has been released by the Australian government. Apart from outlining the government’s policy on reforming the franchisor-franchisee relationship, it furthers what Alan Wein had started last year with his reforms.
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ATO’s Verdict on Multiple Commercial Property Investments

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ATO's verdictIf you have multiple commercial properties in your portfolio and you are not sure what kind of capital gains tax concessions apply to them. You are not the only investor caught in such a dilemma with regards to multiple property investments. The Australian Tax Authority (ATO) has got a protocol for treating small business CGT concessions and it is based on whether they treat the property as an active asset or a passive one.
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The Cost Of Red Tape for Businesses in NSW

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red tapeThe overregulation is costing NSW businesses in the vicinity of $8.5 billion in compliance costs. A report on the website of NSW Business Chamber highlights the chief features of the Red Tape survey.

Red tape is responsible for the loss of 220 million work hours and is sheer plight for companies which have more than 200 staffs. It is such companies that are bearing maximum brunt; paying a mammoth $386,0000 due to local, state and federal regulations.

No surprise then that organisations feel they are being overregulated and that it is not a healthy fact.

You can read the original article here.

What’s your take on the fact- big businesses which provide high number of jobs (service to the nation) are being penalised even more?

The Code to Settle Unfair Dismissal Cases

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Unfair dismissalIn the past, employers running small businesses (keeping 15 employees or less) could pick and chop workers as they liked. They were not subject to any explanation. This scene has drastically changed since July 2009, following the enactment of Small Business Fair Dismissal Code. Now, employees can be sacked only in adherence with rules and strictures, failure in following the process is counted as unfair dismissal. Here is more.

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Everything Worth Knowing about Lease Incentives

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rental incentiveEven as the capital cities are witnessing robust capital growth, rental yields are declining in various neighbourhoods stretched across them. Landlords then are on an overdrive to minimise vacancy rates. Among other things, they are not afraid of offering the lease incentive bait to the prospective tenants.
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When Is a Contract Legally Binding?

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contract agreementWe are not new to contractual disputes. Whether we talk about employment contract, franchise contract, land sale contract or any other contract for that matter, there are possibilities that disputes arise with them on a later day. Let us read a little bit about what a contract is. Perhaps being better informed about the document may help us be better prepared in regards to its implications.
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