If you are bringing any sort of legal claim, you need to be aware that time limit apply for doing so. They vary depending on the nature of the claim. For contract disputes, the time is 6 years after the cause of action arose; sporting injuries – 12 months; Victims Compensations Claims – 2 years (unless it involves sexual assault which is 10 years, or 10 years after a child turns 18); Defacto relationship breakdown – 2 years after separation; Family Provision Claims – 12 months from the date of death. Sometimes, leave will be granted by a Court outside those time limits but there would need to be very good reasons for doing so.

 

Given that there are literally dozens of different time limits for different claims, you need to seek advice before you are prevented from claiming due to the Statute of Limitations.  We can assist you in working out whether you have a claim and whether it is within time.

 

Many of you may recently have received a “Wills Day” colour brochure from the NSW Trustee & Guardian in your letter box offering free Wills. BE VERY WARY. This “offer” is their standard old polava whereby they offer to prepare your Will for free providing they are named as your Executor (similar to a Will that a solicitor could prepare for you for less than $300.00). To their credit they do add that charges only apply on Estate Administration, but what they fail to set out is at what cost.

The short answer is – LOTS and it is irrespective of the complexity of the Estate. The Trustee when acting as Executor of an estate charges an astonishing amount more to finalise an Estate than most solicitors do to carry out the same job. Whilst it is not common to have estates of $5-$10 million in assets which is where the largest discrepancy can be seen (5-8 times more), many estates are in the $1-$2million range where the Trustee charges around 3-4 times more. This massive charging is legislated. The following link will take you to their fees page http://www.tag.nsw.gov.au/executor-fees-and-charges.html

The Trustee has its place and is a very important institution to preserve peoples rights in NSW and by all means attend the free Wills days scheduled around NSW to obtain information. But consider very carefully whether you allow them to prepare your Will. It may save you $300 now but your kids will be shaking their heads and muttering under their breath after you are gone when they realise their inheritance has been gobbled up by the Trustee’s commission.

By way of comparison of fees, a chart setting out the respective costs of carrying out probate work is set out below:-

Value of Asset    Solicitors Fees (Incl of GST)   Trustee Fees (Incl of GST)

200k                  $1,510.3                               $4,400.00

500k                  $2,083.00                              $7,700.00

750k                  $4,787.20                              $14,850.00

$1Mill                  $6,017.00                             $17,600.00

$2Mill                  $7,843.00                              $28,600.00

$5Mill                  $12,100.00                           $61,600.00

$10Mill                $17,055.00                           $116,600.00

Hello All, 

Cyber attacks on Australian business more targeted and coordinated
18 February 2013


New national survey results from more than 250 major businesses shows cyber attacks
are becoming increasingly targeted and coordinated, with one in five experiencing an electronic attack in the last year.


The survey also shows businesses and industries that provide essential services such as energy, defence, communications, banking and finance, and water, are now investing more heavily in tighter security.


The 2012 Cyber Crime and Security Survey Report, which will establish baseline information on cyber attacks, was launched today by Attorney-General Mark Dreyfus QC at Telstra's Global Operations Centre in Melbourne.


"The digital economy has opened up myriad opportunities for Australian businesses to deliver goods, provide services and communicate with people more effectively.  But with every online opportunity comes the risk of criminal exploitation," said Mr Dreyfus.


"Cyber attacks have shifted from being indiscriminate and random to being more coordinated and targeted for financial gain. Most attacks occur from outside the business, although it appears internal risks are also significant."


The most serious attacks involved the use of malicious software including "ransomware" and "scareware", trojan or rootkit malware, theft or breach of confidential information and denial-of-service attacks. In one case, an organisation reported the theft of 15 years' worth of critical business data.


A third of attacks involved the theft of notebooks, tablets or mobile devices.


The survey, commissioned by Computer Emergency Response Team (CERT) Australia and conducted by the Centre for Internet Safety at the University of Canberra, will be annual.


"CERT Australia, established by the Gillard Government, is working with closely with Australian businesses to create higher security standards, warning systems and a secure information sharing system to defend key organisations from cybercrime attacks," said Mr Dreyfus.


"I encourage business to proactively take advantage of CERT Australia's expertise – prevention is much better than cure."


In January, the Prime Minister announced that CERT Australia will soon be part of the new Australian Cyber Security Centre, which will develop a comprehensive understanding of the cyber threat to Australian Government networks and systems of national interest.


The report is available on the home page of CERT Australia's website.


Media contact: Attorney-General's Office - 02 6277 7300

What is land tax?

Land tax is a tax levied on the owners of land in NSW as at midnight on 31 December of each year. In general, your principal place of residence (your home) or land used for primary production (a farm) is exempt from land tax. You may be liable for land tax if you own or part-own:

·         vacant land, including vacant rural land

·         land where a house, residential unit or flat has been built

·         a holiday home

·         investment properties

·         company title units

·         residential, commercial or industrial units, including car spaces

·         commercial properties, including factories, shops and warehouses

·         land leased from state or local government.

Rates and thresholds

2013: The Valuer General has determined that the land tax threshold for the 2013 land tax year is $406,000. The premium land tax threshold for the 2013 land tax year is $2,482,000.

2012: The Valuer General has determined that the land tax threshold for the 2012 land tax year is $396,000. The premium land tax threshold for the 2012 land tax year is $2,421,000.

2011: The Valuer General has determined that the land tax threshold for the 2011 land tax year is $387,000. The premium land tax threshold for the 2011 land tax year is $2,366,000.