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Bankruptcy significantly impacts your credit rating, making it difficult to obtain credit in the future.;The record of bankruptcy remains on your credit report for up to five years or longer in some cases.
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Common legal questions answered by Debt Recovery lawyers.
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Bankruptcy significantly impacts your credit rating, making it difficult to obtain credit in the future.;The record of bankruptcy remains on your credit report for up to five years or longer in some cases.
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Corporate governance in Australia is primarily regulated by the Corporations Act 2001, which sets out the duties and responsibilities of directors and officers.;ASIC also plays a key role in monitoring corporate gover...
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When selling a property in Australia, you must provide a contract of sale, a vendor's statement (section 32), and relevant property certificates.;Disclosure of any known defects, encumbrances, and zoning information i...
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The Goods and Services Tax (GST) in Australia is a 10% tax on most goods and services sold or consumed, with some exemptions.;Businesses must register for GST if their annual turnover exceeds the threshold, and they c...
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Arbitration involves a binding decision by an arbitrator, while mediation seeks a mutually agreed resolution facilitated by a mediator.;Mediation is usually less formal and focuses on negotiation and settlement.
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Stamp duty is a tax paid on property transactions in Australia, calculated based on the property's purchase price or market value, whichever is higher.;Rates vary by state and territory, with exemptions and concession...
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The essential elements of a valid contract in Australia are offer, acceptance, intention to create legal relations, and consideration.;Both parties must also have the legal capacity to enter into the contract and the...
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Digital products and services are covered by the same consumer guarantees as physical goods under the ACL, ensuring they meet quality and performance standards.;Consumers can seek remedies for defective digital produc...
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Debts and taxes must be paid from the estate before any distribution to beneficiaries can occur. This includes funeral expenses, outstanding bills, and estate taxes.;The executor is responsible for filing the necessar...
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In Australia, the Reserve Bank of Australia (RBA) and the Australian Prudential Regulation Authority (APRA) oversee the regulation of interest rates for loans.;Banks and financial institutions also have their own inte...
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