The commentary was updated to include an expanded discussion about employment agreements and the handling of employee entitlements when a business changes hands.
Assets and liabilities list
A new ‘tear off’ assets and liabilities list has been added to the retainer instructions Wills, powers of attorney precedent. This list may assist clients when they wish to provide more detail in their planning, as well retained by the client with their personal documents.
SA – Changes to Cats and Dogs legislation
Some amendments to the Dog and Cat Management Act 1995 came into effect 1 July 2017 including new registration categories: Standard Dog – for a de-sexed and micro-chipped dog; and Non-standard Dog – being all other dogs including dogs for breeding and working dogs on farms.
Coming in on 1st August new minimum welfare conditions that must be met.
Further requirements associated with de-sexing and micro chipping will come into force 1st July 2018.
SA – Revenue SA changes from 22 June 2017
Off the plan apartments.
A $10 000 grant will be provided to eligible off-the-plan apartment purchasers where the contract is entered into between 22 June 2017 and 30 September 2017.
Off-the-plan stamp duty concession.
From 22 June 2017 the off the plan stamp duty concession no longer applies to foreign purchasers. Generally the concession has been extended until 30 June 2018 .
Land tax exemption
A five year land tax exemption will apply to eligible apartments bought off-the-plan where the contract is entered into between 22 June 2017 and 30 June 2018.
Foreign purchasers – From 1 January 2018
A stamp duty surcharge of 4% will apply to foreign purchasers of South Australia residential property.
From 1 July 2017 – Foreign Resident Capital Gains Withholding Payments
For contracts entered into on or after 1 July 2017 the new foreign resident capital gains withholding (FRCGW) rate and threshold will apply to:
- real property disposals where the contract price is $750,000 and above (currently $2 million); and
- the FRCGW withholding tax rate will be 12.5% (currently 10%).
All precedents and commentaries were updated to reflect these changes.
SA – Neighbourhood Disputes
Local nuisance elements of the Local Nuisance and Litter Control Act 2016 commence 1 July 2017, creating a statutory framework for nuisances such as unsightly conditions, noise, odour, smoke, dust and animals.
Foreign Resident Capital Gains Withholding Payment
Early Alert – Foreign Resident Capital Gains Withholding Payment
It is proposed that from 1 July 2017 the regime will apply to all real property with a market value of $750,000 or above. Once the bill is law this alert, the commentary and precedents will be updated.
Practice management – superannuation
FROM 1 JULY 2017 Concessional Contributions Cap for superannuation reduced to $25,000 for all ages. Before-tax contributions include compulsory employer contributions and salary sacrifice arrangements. Contributions greater than $25,000 from before-tax income may mean payment of extra tax.
Music copyright
Following a recent mentor question the Sale & Purchase of Business commentary in all states was updated to discuss the licensing requirements for business owners when playing background music in their businesses. Amendments were also made to the Retainer Instructions in each state.
Wills, Powers of Attorney & Advance Care Directives SA
Wills, Powers of Attorney & Advance Care Directives
DECEMBER
- New Commentary on Challenging the validity of a will
- Challenging a will questions its validity. Contesting a will questions the fairness of its provisions. The circumstances and processes when challenging a will are similar across all the states in legislation and in the common law principles that govern this interesting area of the law. This addition to commentary covers helpful tips for practitioners if they are faced with a client wishing to challenge the validity of a will.
OCTOBER
- Costs Agreements – Disputes section improved, fields for client and firm details added, trust account details added, solicitor’s lien added, execution clauses for individuals and corporations added and general formatting and grammatical improvements.
SEPTEMBER
- Powers of Attorney and Advance Care Directives – Update paragraph on South Australian Civil and Administrative Authority.
JUNE
- Added new precedent – Individual will creating multiple testamentary discretionary trusts.
APRIL
- File Cover Sheets for all publications have been completely re-formatted for a better look.
MARCH
- Powers of Attorney Commentary enriched to include a new section ‘What an attorney can’t do’. Commentary also enriched to include Instruments made in other states.
FEBRUARY
- Making life a little easier for practitioners – look out for Blank Deed, Agreement and Execution Clauses folder in the matter plan at the end of each Getting the Matter Underway.
- The Advance Care Directives Kit produced by the South Australian government has been included in the guide. The kit is useful for practitioners who may wish to pass on additional information to their clients. The kit includes:
- Advance Care Directive Form
- Information Statement
- Substitute Decision-Maker Guidelines
- Information for Witnesses
- Information for Interpreters