Mum and Dad gave me money towards my new home – how can I protect it from a future relationship breakdown?
So you are one of those lucky people who have received assistance from your parents to purchase your home, whether that be all or only a portion of the funds for the purchase.
The consequences of a failed DIY visa application can be very serious and life-changing. In some cases, you may get to start over and reapply for the visa. In most cases, you don’t get to re-apply, may face up to a 3 year re-entry ban, or even worse, a failed visa application could cost you your opportunity to make Australia your home with your loved ones.
On 3 November 2020, the Commonwealth of Australia issued a Government notice stating that the Australian Taxation Office (ATO) will acquire visa data from the Department of Home Affairs (DOHA) for the financial years ending 30 June 2021 to 2023. This announcement will affect all visa holders, applicants and sponsors for all visas in Australia.
The number one topic that employers have trouble with, according to Employsure Australia, is their obligations relating to wages. Modelling released in 2019 by consulting firm PwC estimated that up to 13% of Australian workers are affected by underpayments or wage theft each year, totalling approximately $1.35 billion.
The Federal Circuit Court of Australia has recently introduced in family law disputes the Priority Property Pool Regime which deals with matters valued at under $500,000 (‘PPP500 regime’). In order to qualify for the PPP500 regime, you need to meet the following criteria:
On 9 September 2020, the Department of Home Affairs’s COVID mini-site was updated to allow the holder of a Business Innovation and Investment (subclass 188) visa to be automatically exempt from travel restrictions and can enter Australia, without obtaining an individual exemption.
So someone had successfully convinced the Court to make an Intervention Order (‘IVO’) against you. Whilst the IVO is in place, you are bound to comply with the terms and conditions of the IVO and, if you breach those terms or conditions you are likely to receive a punishment which may include imprisonment.
I am commonly asked if you can appeal an IVO or have the conditions of an IVO changed. The short answer is ‘yes you can’. You cannot, however, appeal an Interim Intervention Order.
On 2 September 2020, Acting Minister for Immigration Alan Tudge and the Minister for Employment, Skills, Small and Family Business Michaelia Cash jointly announced a new Priority Migration Skilled Occupation List (PMSOL) for 17 occupations that will be able to enter Australia to assist in the country’s COVID recovery. These occupations are in health care, construction and IT sectors that will help with Australia’s health and economic response to COVID-19.
Where possible, we generally recommend, upon separation, that one of the parties to a failed relationship secure alternate accommodation. Of course, it is not always practical for one or both parties to a failed relationship to rent or purchase a new home.
How should you determine who gets to stay in the house?
Many Australians assume, after divorce or separation upon break down of a long relationship, the assets of the marriage (or separation) are simply split down the middle – half to one and half to the other. While this may have been the case a long time ago, in most instances a straight 50-50 split may result in an outcome that is unfair to one of the parties.
Many potential visa applicants balk at two aspects of the Australian visa application process – the cost and the waiting times. Unfortunately, like death and taxes, both are, in almost every case, unavoidable.
The waiting times are estimated by the Department for Home Affairs and are updated regularly depending on a huge variety of factors, which includes the volume of applications, the complexity of cases, and the ease with which the Department can retrieve any additional required information.
A Binding Financial Agreement (BFA) is the Australia term for the type of agreement frequently known as a ‘pre-nup’ or pre-nuptial agreement. Parties who wish to make plans for their division of property at the end of a relationship may look to make a BFA at the start of the relationship. However, there are several reasons why this decision may not be suitable.
You are probably aware that a properly drawn Will is designed to deal with your assets once you have passed away. Most Wills appear to be fairly straightforward, however, many Wills and what happens after you pass is commonly misunderstood.
Being separated from a former partner but still living within the same household is not uncommon, especially in times of economic hardship, or in situations where one party to the relationship may have a lower earning capacity, less savings, a disability or some other factor which might hinder their ability to move out or otherwise find independent living arrangements.
A recent study surveyed 1,000 Australian mortgagors and found that nearly half (48%) of those surveyed do not have a Will. 18 to 40 year olds said they were motivated to get a Will after buying property whilst older respondents created a Will after having children, getting married or entering into a de facto relationship. Notably 31% of mortgagors under 30 years of age do have a Will.