Where the bloody hell…. did my money go?

It is widely known that Australia is in the midst of a terrifying Bushfire season which have had a devastating effect on our residents, wildlife and fire services and others, physically, mentally and financially. The old Australian adage about how when times are tough, mateship prevails has proven to be true and in typical fashion the people of Australia have rallied. We have seen unprecedented levels of donations well into the hundreds of millions of dollars, to assist the victims, fire services, charities and wildlife agencies.

While many of these organisations are legitimately accepting donations to assist those in need, we have also seen an increase of scammers defrauding people by claiming to be assisting those affected by the bushfire disaster.… Read More

My Superannuation will go to the beneficiaries listed in my Will… Right?

Wrong! This is one of the biggest misconceptions people have when talking about Superannuation. Superannuation is not an asset of your estate, and as such is not distributed in accordance with your Will. Superannuation is distributed by, and at the discretion of, the Trustee of your Superfund.

Most people have provided their commercial superfund with a non-binding beneficiary nomination, however while it gives the Trustee an idea of who you would like to give the benefit of your superannuation, they are in no way bound by this nomination.

You can however override the discretion afforded to the Trustee of your Superfund by completing a Binding Death Benefit Nomination (BDBN) It is important to ensure that the BDBN is valid.… Read More

Sarah’s Rule – A recent change to the NSW road rules

As of the 26th of September 2019, NSW has had a change to one of its road rules. From this date Motorists will be required to slow down when passing stationary Emergency or breakdown / tow vehicles which are displaying flashing lights.
A trial version of this rule change has been in effect for the past 12 months, however amendments to this have been made due to public feedback.
So what does this actually mean for Motorists?
Motorist will now be required to slow down when passing stationary vehicles which are displaying red and blue or yellow flashing lights. These vehicles include Ambulances, Police vehicles, Fire and Rescue vehicles, State Emergency Service vehicles, Volunteer Rescue Organisation’s vehicles, Traffic Commander vehicles, Transport Emergency vehicles, Tow Trucks and Breakdown Assistance vehicles.… Read More

Should you accept a lesser deposit?

When selling your property, it is usual for a purchaser to pay 10% of the purchase price as a deposit for the property. This money is usually held by the Real Estate Agent and under the standard conditions of the Contract can be recovered by Vendor if the Purchaser defaults on the Contract.

However, it is becoming increasingly more popular for Purchasers to ask if you will accept a 5% deposit or sometimes even less.

So what happens if you accept a lesser deposit?

Most of the time, the transaction is completed as normal and the money that would have been held as a deposit is simply paid to the Vendor at settlement.… Read More