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First Home Owners
Are you a First Home Owner? If yes, then the changes from 1 July, 2010 may affect you.
If you signed a Contract on or following 1 July, 2010 for the purchase of an established dwelling as your principal place of residence and you are eligible for the First Home Owner's Grant (FHOG), you will receive $7,000.00.
If you signed a Contract on or after 1 January, 2010, the Grant will only be payable if your property (or construction of your home) does not exceed $750,000.00 (unless your purchase relates to a home on or to be constructed on primary production land).
To be eligible to receive the First Home Bonus of $13,000.00, then your purchase must be a new home and your purchase price must not exceed $600,000.00.
If you have queries regarding your purchase and/or sale, please contact our Conveyancing Manager Carolyn Smith
"... it's My Money, I Can Leave it to Whoever I want"
Your freedom and rights as a Will maker may compete with legislative requirements to make adequate provision from your estate to a person you owe a moral duty or responsiblility.
Part IV of the Administration and Probate Act 1958 provides the guidelines which a Court can determine whether you have been and wise in distributing your estate when you die.
The Courts will ask and determine are you responsible to support the person you want to leave out or given a small amount to in your Will.
The weight given to various factors also alters according to community sentiment at the time. It is essential to get good current legal advice when drafting your Will, especially if you tentd or you are omitting or leaving a small legacy to a person you are or have been involved in their life.
If you require legal advice concerning drafting of your Will, please contact our Lawyer Pamela Horton