Understanding the process of conveyancing Coffs Harbour

Conveyancing refers to the process of transferring a property from one individual to another in a legal manner. This process requires an intermediary who is known as a conveyancer. The conveyancer’s role is to ensure that their clients gain possession of the title deeds and other relevant documents to the property and the land that carries it. A conveyancer is a licensed individual that offers advice to their clients about selling properties. Conveyancing in Coffs Harbour can refer to a solicitor or a licensed professional.

Why do you need a conveyancer when buying a property?

Many people do not understand the importance of hiring a conveyancer when they are buying a property, resulting in legal implications, especially when they fall into the hands of fraudsters. Hiring a conveyancer will help you to avoid the following problems:

Legal issues

As simple as it may seem, the process of conveyance is very complicated and requires an expert to facilitate. It is subjected to various laws, legislation, contract agreements, and other guidelines that you must be familiar with, failure to which can land you into serious legal problems.


Conveyancing, if not facilitated by an expert, can prove to be very time-consuming.  It requires you to identify all the stakeholders in the process, prepare and comprehend all the legal documents, conduct searches for the property, and reveal the preconditions on it, ensuring that the seller/buyer is legally upright in the contract facilitating settlement. Therefore, if you are not experienced in such exercises, you will waste a lot of time trying to figure out what to do and how to do it. However, a conveyancer will quickly complete these tasks because they are well experienced.

It will prevent loss of sale

Property sales can go wrong in many ways that you could not possibly imagine. Any wrong move or engagement can cost you the entire property. Thus, it is wise to hire a conveyancer to help you sell the property successfully without making any errors.

You will be stress-free

Having taken you through some of the tasks done in conveyancing, you discover that it is a complex process that can give you a lot of stress if you are inexperienced in the field. That is why it is always advisable to look for a conveyancer to do the job for you as you engage in other things.

Financial problems

Failure to hire a conveyancing expert can result in significant financial losses. If things go wrong, you will lose your property, and keep in mind that you have already spent a lot in facilitating the process. A conveyancer understands all the property laws and will help you avoid problems in the conveyancing process.

Insurance and asset protection

The most significant benefit of employing a conveyancer is the insurance cover. Almost all the conveyancers have an insurance cover for their clients that will compensate their clients if something goes amiss.

For the conveyancing process to be successful, you need a conveyancer to back you up and carry out the process on your behalf to avoid loss of time and resources. You can easily find a reputable conveyancer that will help you accomplish your tasks relating to conveyancing in Coffs Harbour. You can also visit the web and find out more about the process of conveyancing. You should do well to remember that an expert should carry out conveyancing.

5 Tips Your Tax Accountant Won’t Give You For Free

Taxes are among the most intimidating aspects of adult life and rightly so. If you are unaware of how to file your taxes, it can get very messy. That’s why, most of the time, you need an accountant or tax agent penrith to help you out. And with hiring help comes more costs. However, here are some tips that your tax accountant won’t tell you without charging you for consultation. These tips will help you reduce payables and help you generate hefty tax returns.

Self-Employment vs Salaried Individuals

Salaried individuals working for registered companies have income taxes deducted from their salaries. However, for self-employed individuals that is not the case. If you work as an independent contractor, the best way to prepare yourself for taxes is to save up 30% to 40% of your annual gross earnings aside for taxation purposes. That is a big chunk hence it is advisable to save up instead of waiting till the end of the fiscal year to figure your taxes out. Even if you are short on cash, it is better to file considering the penalties for non-filers is a lot heavier on the pocket than the tax itself.

Giving Donations

Donating to charity is not just a responsible citizen’s act, but also helps you up your tax returns. If you are accounting for the donations you made, whether in cash or old belongings (assets), you get a silver lining with it. Donations and charity reduce your taxable income, therefore, reducing the amount that is payable by you. 

Withholding Taxes

On most public affairs related transactions, governments impose a withholding tax. That can be on your cell-phone bills or bank withdrawals for instance. Withholding taxes that you have paid can also be accounted for while filing for taxes. That brings down the tax payable by a good degree. You can get information about the withholding taxes you have paid through your service providers and banks. 

Insurance and Retirement Plans 

If you have insurance or contribute to your retirement plans, make sure you account for those contributions in your tax filing. These contributions also reduce the tax payable bracket, rendering lower tax cost at the end of the fiscal year.

Simple Shouldn’t Cost 

If you have multiple sources of income along with investments and businesses running on the side than your tax configuration is a lot more complex than a usual tax-paying citizen. You should invest time and money in finding a suitable tax accountant to help you out with filing your taxes and developing a tax strategy. However, if you have a single stream of income with personal expenses to take care of, you shouldn’t opt to have a tax accountant help you sort your matter out. Low to moderate taxpayers ought not to go for expensive tax accountants, and rather consider free help. 

How to file for bankruptcy in Australia

Managing a business is a headache. But once business has dipped down and there is no money at all, the desperation will be doubled. With all the debts lining up, the unpaid bills, the utilities, and many others that will undoubtedly give a throbbing headache. Until you come up to pull your last resort, to declare bankruptcy.

Bankruptcy is a legal process that will free you from debts. It can be voluntarily if you are not capable of paying the debts anymore. Or, it could be done by creditors, by sending notice of bankruptcy from the Office of the Receiver. In Australia, the Australian Financial Security or AFSA is the department in-charge and will be the one to manage and will choose a trustee to handle your financial affairs. However, nothing is free on Earth; a private trustee will handle everything about financial matters, but with corresponding charges.

Nonetheless, before filing a bankruptcy, you must be aware if you are qualified to do so. Keep in mind that you will be eligible to file bankruptcy if you can prove of not being capable of paying all your debts, and if you are currently residing in Australia or have been operating a business in Australia.

In applying for bankruptcy, it is absolutely free of charge. There is no maximum and minimum debt allowable. In the Bankruptcy Act of 1996, you will be totally free of debts after 3 years and 1 day.

Moving on, when all is decided, it is time to file bankruptcy to AFSA. Guidelines and forms are available for download in AFSA website. Hence, to make it easier for you, here are the guidelines to follow in filing bankruptcy. As follows:

Fill up bankruptcy application forms.

There are two forms to be filled up prior to application. First is the Debtor’s Petition or the Application to Become Bankrupt. The second form is the Statement of Affairs. All necessary information should be filled-in legibly on the forms from AFSA. Both documents need to be signed and dated at the last pages of each form.

Please take note that incomplete forms may result in rejection of your application.

Send the documents with 28 days after signing it.

After filling up the forms legibly, and completing all the necessary additional documents may now be sent. Sending the documents for processing can be done through email or through the post as long as it should be done within 28 days from the date of signing of the documents.

Now, after sending the application, then the government department in-charge will move its way to release you from debt. Upon receiving the application, the AFSA will send notice of confirmation with the administrator’s insolvency number to both the debtor and the creditor. There are cases where applications are rejected, but the department in charge will give notices together with the reasons for the rejection.

There are many possible reasons that your application for bankruptcy could be denied. Hence, we will be giving you the most important reasons that should be carefully analysed before filing. Here they are as follows:

  1. If it is found that debtors could likely pay in a reasonable time
  2. Either debtor is unwilling to pay despite his capabilities to pay, or the debtor has been previously bankrupt for three (3) in the last five years.

Bankruptcy is definitely not a simple term. It has a lot of consequences. Therefore, it is advised to seek help or at least consult an expert before declaring bankruptcy Brisbane.