Nowadays, many legal practitioners and law practices have experienced cyber fraud, and the amount of money stolen is constantly increased. This article will briefly explain what cyber fraud is, and what should legal practitioners or law practices do when dealing with cyber fraud.
What is cyber fraud?
Cyber fraud, or cyber crime, is a serious criminal offence directed at computers or other information communications technologies for financial gain or other malicious purposes. It is usually done by hacking into a law firm’s system and impersonating either the client or the firm to demand and redirect payment of funds to the fraudster’s account. Sometimes it also involves money laundering and identity theft.
It is more common for they are impersonating the firm to demand money from clients. It is because law practices normally have their own financial staff or more resources to check or verify the account while clients do not. They will believe that is the firm’s account and just transfer their hard-earned money.
It is a common misunderstanding that the bank has certain obligations to prevent cyber fraud and they will reimburse practitioners and clients for the funds stolen. Well, there is no such requirement for banks, and it is not the function of the banks to check or even investigate any suspected transaction. Banks will try to recover the money, but normally, time is not enough for recovering or even tracing in electronic transfers before the offenders dissipate the money. At this stage, it is too late to recover.
What should legal practitioners do?
Before any transaction, give the clients the firm’s bank details and warn them about the risk of cyber fraud. If in doubt, or even every time before they are going to transfer their money, always call the firm to verify the bank account. It is also important to tell the clients that the firm will never change their bank details through a mere email. Practitioners should also be proactive to check with clients in order to ensure their money go to the correct destination.
Payment by electronic mean is quick. If the expected payment has not arrived at the firm’s account, it is not OK to assume that it is still in transit. Legal practitioners or law practices should always keep eyes on the trust account and check with clients to confirm they got the correct bank details. If there is a suspected fraud or mistake, immediately contact the transferring and recipient banks.
Law firms should also install multi-factor verification or authentication to secure the system. Almost all reported cyber fraud occurred in the circumstance of lacking protection of the authentication. Offenders can easily access to the firm’s email account to send an email to the clients demanding or redirecting funds into the fraudster’s account.
Disclaimer: This publication contains comments of a general and introductory nature only and is provided as an information service. It is not intended to be relied upon as, nor is it a substitute for specific professional legal advice. You should always speak to us and obtain legal advice before taking any action relating to matters raised in this publication.
The relationship between Owners Corporations and lot owners can be tested by unexpected events, including the imposition of additional fees and levies. Luckily, the Owners Corporation Act 2006 (Vic) outlines the way an Owners Corporation (‘OC’) can impose fees, levies, and additional costs for rectification work that does not involve an equally distributed benefit for all lot owners. This article explains how the Act allocates these fees and offers guidance to lot owners who may want to dispute these fees.
Types of Fees and How They are Levied:
General Annual Fees:
In accordance with the Act, an OC may impose annual fees insofar as to cover repair and maintenance costs, general administration, and insurance fees. These are set on the basis of lot liability, meaning that the person who owns, is in possession of, or receives rent and profit from the lot is liable to pay the fees and contributions owed to the OC in relation to that specific lot.
Additional Annual Fees:
Additional fees may be levied on a particular lot owner whereby their use of the lot has caused the OC to incur costs which would otherwise not be covered by the General Annual Fees. These can arise from extraordinary circumstances and can be related to work that only benefits one, or a few, lot owners as opposed to everyone.
Unlike General Annual Fees, these are set in accordance with the benefits principle whereby the amount levied is proportional to the benefit obtained by the lot owner’s use of that lot. Essentially, those who derive a greater benefit from the work undertaken must pay more.
Below is a breakdown of the difference between how these fees are allotted.
| Category | Principle | Section (Owners Corporation Act) |
| General Annual Fees | Lot Liability | S 23(1)-(2) |
| Additional Annual Fees | Benefits Principle | S 23(3A)-(3B) |
Fee Recovery Process:
To initiate the fee recovery process, the Owners Corporation can take the following steps:
Responses to Receiving an Additional Levy:
If you are a lot owner and have received and additional levy, please consider the following steps to respond appropriately.
If you receive a Final Notice, call us for a consultation immediately. This may impact on your right to vote as a lot owner and may incur additional costs for you if your OC decides to lodge the matter with VCAT.
Disclaimer: This publication contains comments of a general and introductory nature only and is provided as an information service. It is not intended to be relied upon as, nor is it a substitute for specific professional legal advice. You should always speak to us and obtain legal advice before taking any action relating to matters raised in this publication.
The Albanese Government has now unveiled their plans for migration changes following their recent budget update.
The announcement has resulted in the following:
New announcements:
Wondering how these changes will impact you? Contact the migration team at Nevile & Co. today! nevileco@nevile.com.au
Disclaimer: This publication contains comments of a general and introductory nature only and is provided as an information service. It is not intended to be relied upon as, nor is it a substitute for specific professional legal advice. You should always speak to us and obtain legal advice before taking any action relating to matters raised in this publication.
Directors have various duties under the Corporations Act 2001 (Cth) (Corporations Act) to act in the best interests of the company.
Usually, this means acting in the best interests of the shareholders, but these duties can also require directors to take into account the interests of other stakeholders like employees and creditors. The duties include acting with care and diligence, exercising their powers in good faith and for a proper purpose and preventing the company from trading when insolvent. The problem is that directors often have to make difficult decisions that involve judgement calls with limited information in circumstances in which the stakeholders have conflicting interests, so it’s not always clear whether they have properly discharged all of these duties.
A company director is generally not liable for the company’s debts unless the director:
Although directors may be held personally liable in some instances, there are essentially three ways of mitigating the risk:
A Deed of Access and Indemnity is designed to help directors defend themselves from personal liability that may arise from their conduct as directors. It ensures that they are given access to
the books and records of the company and also indemnifies them from such personal liability. It will typically also require/permit the company to take out, and pay for, directors and officers
(often abbreviated to “D&O”) insurance on behalf of the director – this is a special type of business insurance policy that insures against such liabilities and costs.
If you need assistance in understanding your responsibilities as a Director, contact the Commercial Team at Nevile & Co. today!
Disclaimer: This publication contains comments of a general and introductory nature only and is provided as an information service. It is not intended to be relied upon as, nor is it a substitute for specific professional legal advice. You should always speak to us and obtain legal advice before taking any action relating to matters raised in this publication.
If you are wishing to rehearse your marital vows in front of someone, your Wills and Estates lawyer may not be the most encouraging audience. Whilst poetically proclaiming your conviction that it will only be death that does you two apart, your lawyer is bound to interrupt you to ask, “and then what?”
Although slightly grim, this line of thinking will help preserve your interests and ensure that, after your death, your estate assets are distributed as intended. Indeed, the question does require consideration because marriage automatically revokes any previous will. Upon uttering “I do,” your spouse immediately becomes the primary candidate for the distribution of your estate and any objection can be met with a family provision claim.
A family provision claim is an application for adequate compensation from an estate. Typically, it is made by an eligible person who has not received a sufficient provision in the deceased’s will. The Court will decide whether such a claim exists by considering if the deceased held a moral responsibility and if they failed to uphold their legal obligation to adequately provide for the claimant (Part IV Administration and Probate Act). Marriage imposes an implied moral responsibility to provide for one’s spouse and children and therefore strengthens the likelihood of a successful family provision claim. Therefore, it is crucial that you take the time to revisit and review your will.
On the other hand, if you have a less optimistic lawyer, they might even ask you “what if it is not death that does you apart?”
In this case, you will be forced to consider the worst: divorce or separation.
Divorce:
In the instance of a divorce, any terms which applied to your ex-spouse will be immediately revoked, including and appointments and the allocation of assets.
However, an agreed property settlement may provide your ex-spouse with an avenue for a successful family provision claim. The claim will take into consideration factors such as existing children, any contributions made by your former spouse to your welfare, the nature and duration of the relationship.
The bottom line is that the legal consequence of marriage may continue to haunt you, even after a divorce.
Separation:
Conversely, a separation in the marriage will not impact a will. If you maintain your legally married status, your spouse will remain entitled to inherit any assets or appointed roles that they have been named to command. This includes rights to properties left to them and the ability to act as the executor of your estate.
All this might eventually lead to you asking the question “will anything ever do us apart?”
Excluding a Person from your Will:
The truth is that an eligible person cannot be expressly excluded from a will. However, there are positive steps that you can take to minimise the claims that an eligible person may have.
Some of these include:
At Nevile & Co we insist on congratulating your marriage once we ensure that your interests and assets are secure and will be allocated according to your own intention.
Disclaimer: This publication contains comments of a general and introductory nature only and is provided as an information service. It is not intended to be relied upon as, nor is it a substitute for specific professional legal advice. You should always speak to us and obtain legal advice before taking any action relating to matters raised in this publication.
”Show me the incentive and I’ll show you the outcome.”- Charlie Munger
When buying or selling a house or business, you may be overwhelmed by the all the people who seem very eager to help you. It is important to remember that not everybody’s interests will always align with yours.
Take agents, for example. They represent sellers, find buyers, and make a transaction occur at the highest price possible. In order to create an incentive, they take a percentage commission from the seller. At least on paper, they want what the seller wants – a sale at a high price.
If you’re a seller, what happens if your agent can’t find a buyer? If they don’t make the sale, they don’t make the commission. This is when your best interests may be sidelined by someone who would rather make any sale over a good sale. We’ve seen agents promise both the buyer and the seller completely different things, and then push them into signing a contract they don’t agree on. Once the deposit is paid, the agent practically vanishes – they’ve got their money, and now the parties have to hand it over to the lawyers to clean up.
Likewise, mortgage brokers can help you find the best loans at the best rates. However, they don’t carry the risk of the loan – the banks do. Like agents, they collect a percentage commission for every loan they make. This incentivises them to put you in as much debt as possible, whether or not you can afford it, to line their own pocket. Like agents, if the loan doesn’t happen, they don’t collect their fee, so they’ve been known to massage the numbers occasionally.
I recently met a young fast-food employee who boasted that her “very good” broker helped her buy a house with a 5% deposit. When I asked what his brilliant advice was, the answer was simple: lie! He advised her to lie to the Revenue Office and forge some payslips. Like magic, a risky borrower became a shrewd investor. What this broker should have done was advise his client that she couldn’t afford the loan, and if she wanted to buy a house, she should find a cheaper one within her budget. Instead, he put his commission over his client’s interests.
Finally you have the lawyers. Nobody likes the lawyers. We don’t take a commission, so you have to send us money from your own bank account. Despite charging far less than agents or brokers, handing over the cash up front somehow hits harder. On the other hand, it means we are impartial when it comes to a deal going ahead – we’re trying to help you make an informed decision, not sell you anything. We’re not as slick as the agents or the brokers, we tell you what can’t be done, and we want everything in writing. We see the potential pitfalls, and having your best interests in mind, we want you to avoid them. “But the agent told me Rome was built in a day!” is something I hear too often.
Incentives matter. Agents and brokers are paid commission, and so it shouldn’t surprise anyone that they want to make the sale. Lawyers are paid flat fees, because our incentives should always align with your best interests. So next time someone tells you not to get lawyers involved because we “just slow things down”, ask yourself what they’re trying to sell you, and what their incentive is.
If you want to make sure your best interests are being looked after, contact Jack Nevile at jack.nevile@nevile.com.au.
Are you a foreign person who wish to invest or buy property in Australia? You need to know what FIRB is and how it may impact on your investment decisions.
A foreign person is generally an individual that is not ordinarily resident in Australia.
Foreign Investment Review Board (FIRB) is the government body responsible for reviewing and approving application made by a foreign person interested in investing in Australia. The investment can be in the form of acquiring a major share in companies, buying land or even buying an off-the-plan apartment .
As of today, the payable fees to FIRB will be doubled across all applications. For instance, if you are a foreign person interested in buying an apartment off-the-plan worth less than $1 million, the payable fee to FIRB will be increased from $6,350 to $12,700.
Foreign persons who do not comply with the foreign investment review framework may be subject to significant penalties, including both civil and criminal penalties. If you are an overseas investor and require further assistance with FIRB, please do not hesitate to contact this office.
1 July 2022 will see several Visa changes that will result in new skilled worker pathways to permanent residency, more places for working holiday makers, and the chance for graduates impacted by COVID-19 boarder closures to make up for their time locked out of Australia.
Temporary Skill Shortage Visas
Temporary skill shortage (TSS) subclass 482 visa holders will now find it easier to apply for permanent residency.
As at the 31st of March 2022, there were 52,440 people on 482 visas, or the related 457 visas that ceased offering new places to applicants in 2018.
From 1 July, these visa holders can apply for the Temporary Residence Transition (TRT) visa, which allows skilled workers, who are nominated by their employer, to permanently live and work in Australia. This new pathway will only be accessible for two years from this date. Those who are deemed eligible will need to have been in Australia for at least one year between 1 February 2020 and 14 December 2021.
The change will also apply to subclass 457 visa holders with an occupation on the Short-Term Skilled Occupation List (STSOL).
Age Limit Exemption
The second change impacting 457 visa holders means that they will no longer be restricted by age from applying for permanent residency through the TRT stream. 457 visa holders aged 45 and over have previously had no pathways to pursue permanent residency, despite being sponsored by employers after working in Australia for many years.
The change, which now specifies no age limit to pursuing this option, will also only be accessible for two years from 1 July. To be eligible for the age exemption, 457 visa holders will need to have held the visa from or since 18 April 2017. Those who are deemed eligible will also need to have been in Australia for at least one year between 1 February 2020 and 14 December 2021.
Need to discuss your migration options? Contact Nevile & Co. today.
On the 15th of June 2022, the Victorian State Revenue Office (SRO) confirmed changes to the duty payable arising from Late Settlement Interest. These will come into effect on the 1st of July 2022.
Why is duty paid on late settlement interest?
The 2020 case of 1043 Melton Highway Pty Ltd confirmed that late settlement interest is part of the consideration which ‘moves’ the transfer of the land. Therefore, the SRO states that it is a component that forms part of the dutiable value of the land and duty is payable as a result.
When is duty payable on late settlement interest?
For contracts of sale entered into after 1 July 2022, duty will be payable on late settlement interest amounts of $5,000.00 or more.
A transaction will therefore need to be re-lodged for reassessment within 30 days of settlement if:
Note, late settlement interest will not form part of the dutiable value of the land for the purpose of determining eligibility for the:
How is duty paid on late settlement interest?
The SRO must be notified by email and the transaction must be re-lodged within 30 days of settlement.
The following details must be provided:
Looking for assistance with your property transactions? Look no further! Contact Nevile & Co. today to find out how we can be of assistance.
The information contained on this page is general in nature and does not take into account your personal situation. It is not intended to be relied upon as, nor is it a substitute for specific legal advice. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice.
As we come to the beginning of the new financial year, the FCFCOA has confirmed both general federal law fees and family law fees will see an increase on 1 July 2022.
General Federal Law Fees:
| Schedule Item No. |
Document or Service | Current Fee | New fee from 1 July |
| 201 | Filing a document by which a proceeding in the Court seeking final orders is commenced, other than an proceedings mentioned in items 202, 204 to 206, 208 to 214 or an application under the Trans-Tasman Proceedings Act 2010 | Corporation $1,680
Any other case $700 |
Corporation $1,765
Any other case $735 |
| 201A | Filing of a document by which a proceeding is commenced in the Federal Circuit Court seeking final orders in exercise of:
|
(a) full fee—$3,365, or
(b) if a Registrar or an authorised officer has determined that the person may pay a reduced fee under section 2.06A—$1,680 |
(a) full fee—$3,535, or
(b) if a Registrar or an authorised officer has determined that the person may pay a reduced fee under section 2.06A—$1,765 |
| 202 | Filing of an application under section 46PO or 46PP of the Australian Human Rights Commission Act 1986 | $55 | no annual increase |
| 203 | Filing a bill of costs | $270 | $285 |
| 204 | Filing of a document seeking interlocutory, interim or procedural orders (other than a proceeding mentioned in item 202) or an application under the Trans-Tasman Proceedings Act 2010 other than an application mentioned in item 214A | Corporation $1010
Any other case $410 |
Corporation $1060
Any other case $430 |
| 205 | Filing of an application to review an exercise of power by the Registrar of the Federal Circuit Court, under subsection 104 (2) of the Federal Circuit Court Act | Corporation $1010
Any other case $410 |
Corporation $1060
Any other case $430 |
| 206 | Filing of a document by which a proceeding in the Federal Circuit Court under the Bankruptcy Act 1966 is commenced | Publicly listed company $5,895
Corporation $3,935 Public authority $3,890 Any other case $1,640 |
Publicly listed company $6,195
Corporation $4,135 Public authority $4,135 Any other case $1,725 |
| 207 | Filing, by a person other than the applicant, of a document seeking the making of final orders different from those sought by the applicant (other than in a proceeding mentioned in item 202) | Corporation $1,680
Any other case $690 |
Corporation $1,765
Any other case $725 |
| 208 | Filing of an application for an order for substituted service of a bankruptcy notice | Publicly listed company $660
Corporation $440 Public authority $440 Any other case No change $170 |
Publicly listed company $695
Corporation $460 Public authority $460 Any other case No change $180 |
| 209 | Filing of an application under section 539 of the Fair Work Act 2009 in either of the following circumstances:
(a) the applicant has been dismissed from employment in alleged contravention of Part 3-1 of that Act; (b) the applicant alleges a breach of section 351 of that Act |
$74.90 | $77.80 |
| 210 | Filing of an application under section 539 of the Fair Work Act 2009 if the applicant has been dismissed from employment in alleged contravention of section 772 of that Act | $74.90 | $77.80 |
| 211 & 212 & 212A | Filing an application under section 548 of the Fair Work Act 2009 if the applicant indicates that the applicant wants the small claims procedure under that Act to apply:
If the claim is less than $10,000 If the claim is between $10,000 and $20,000 and the proceedings relate to one or more of the matters mentioned in paragraph 548(1B)(a) of that Act (other than a proceeding mentioned in item 212) |
$250 $405 $250 (New fee) |
$265 $425 $265 |
| 213 & 214 | Filing of an application under Consumer Credit Protection Act 2009 if the applicant indicates the applicant wants the small claims procedure under that Act to apply:
If the claim is less than $10,000 If the claim is between $10,000 and $20,000 |
$250 $405 |
$265 $425 |
| 214A | Filing of an application to register a New Zealand judgment under the Trans-Tasman Proceedings Act 2010 | $130 | $135 |
| 215 | Setting down for hearing for final orders of a proceeding or an issue in question in a proceeding (other than a proceeding under the Bankruptcy Act 1966 or proceeding mentioned in item 202 | Corporation $2,010
Any other case $835 |
Corporation $2,110
Any other case $875 |
| 216 | For hearing for final orders of a proceeding or an issue in question in a proceeding (other than a proceeding under the Bankruptcy Act 1966 or proceeding mentioned in item 202)-for each hearing day or part of a hearing day (other than the first hearing day) | Corporation $2,010
Any other case $835 |
Corporation $2,110
Any other case $875 |
| 217 | For the hearing for an examination by a Registrar of the Federal Circuit Court under section 50 or 81 of the Bankruptcy Act 1966-for each day or part of a day | Publicly listed company $3,035
Corporation $2,010 Public authority $2,010 Any other case $835 |
Publicly listed company $3,190
Corporation $2,110 Public authority $2,110 Any other case $875 |
| 218 | For the hearing of an application (including a cross-claim) under subsection 104(3) of the Federal Circuit Court of Australia Act-for each day or part of a day | Corporation $2,010
Any other case $835 |
Corporation $2,110
Any other case $875 |
| 219 | On request, production of file of the Federal Circuit Court and the making of a copy or copies of a document or documents in the file (regardless of the number of documents to which the request relates:
For the production of the file For each page included in a copy made in accordance with the request |
$50 $1 |
$55 No annual increase |
| 220 | Each service or execution, or attempted service or execution, of the process of the Federal Circuit Court by an officer of the court (other than in a proceeding mentioned in item 202 | No annual increase | No annual increase |
| 221 | Seizure and sale of goods by an officer of the Federal Circuit Court in the execution of the process of the court (other than in relation to a proceeding under the Admiralty Act 1988 or a proceeding mentioned in item 202) | $640 | $675 |
| 222 | For issuing a subpoena | Corporation $160
Any other case $80 |
Corporation $170
Any other case $85 |
| 223 | For issuing a summons to a person, under section 50 or 81 of the Bankruptcy Act 1966 to attend examination about a debtor’s examinable affairs | Publicly listed company $815
Corporation $530 Public authority $530 Any other case $270 |
Publicly listed company $855
Corporation $555 Public authority $555 Any other case $285 |
| 224 | Mediation by an officer of the Federal Circuit Court (other than in a proceeding mentioned in item 202) – for each attendance at the mediation | $555 | $585 |
Family Law Fees:
| FILING FEES | Current Fees | New Fees from 1 July |
| Application for divorce | $940 | $990 |
| Application for divorce — reduced fee^ | $310 | $330 |
| Application for consent orders | $170 | $180 |
| Application for decree as to nullity | $1,335 | $1,405 |
| Application for decree as to nullity – reduced fee^ | $445 | $465 |
| Application as to validity of Marriage, Divorce Annulment | $1,335 | $1,405 |
| Initiating Application (Parenting OR Financial, Final only) | $365 | $385 |
| Initiating Application (Parenting OR Financial, Final AND Interim) | $490 | $515* |
| Initiating application (Parenting AND Financial, Final only) | $595 | $625 |
| Initiating Application (Parenting AND Financial, Final AND Interim) | $720* | $755* |
| Response to initiating application (Final) | $365 | $385 |
| Notice of appeal to the full court including an appeal from the Federal Circuit Court | $1,425 | $1,500 |
| Interim order application/Application in a case (Parenting AND/OR Financial) | $125 | $130 |
| Issue subpoena | $55 | $60 |
| Application under the Trans Tasman Proceedings Act 2010 | $125 | $130 |
| Filing an application to register a New Zealand judgment | $110 | $115 |
| COURT EVENT FEES | ||
| Setting down for hearing fee (defended matter) (This fee is not refundable) | $660 $900 |
$695 (Div 2) $945 (Div 1) |
| Daily hearing fee (for each hearing day, excluding the first hearing day) | $660 $900 |
$695 (Div 2) $945 (Div 1) |
| Conciliation conference | $415 | $435 (Both) |
The information contained on this page is general in nature and does not take into account your personal situation. It is not intended to be relied upon as, nor is it a substitute for specific legal advice. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice.