February 2024 - Matti Lamb & Associates

Compulsory Acquisition of Land in Australia – what is it and who could it affect?

Compulsory acquisition of land (also known as ‘resumption’) refers to the right of the Government or a delegated authority such as a local council to acquire privately owned land for specific purposes. Compulsory acquisition can impact homeowners, tenants, and businesses – anybody who has an interest in the property that is being acquired.

Bad credit rating? What can you do?

A credit rating (also known as a credit score) can play a vital role in a person’s financial life. A good credit rating indicates responsible borrowing and timely repayments, while a bad credit rating suggests a history of late payments or loan defaults. The lower the credit score, the less favourable the terms and conditions for future loans and credit cards. However, it is important to know that there are actions that can be taken to increase a low score. In this article, we will explore what a credit rating is, the factors that impact it, the effect of bad credit, and the steps that can be taken to increase a low credit rating.

Divorce, de factos and superannuation splitting

Once a couple is separated, their superannuation (super) is treated as property under the Family Law Act 1975 (Cth) and the value of the couples’ super benefits will be taken into account when determining a property settlement. Laws regarding super splitting apply to both married and de facto couples.

Super is held in trust and this type of arrangement differs from other types of property – there are rules that govern when a party is able to access their super funds.