Friendly Fire - Flesh Wound or Fatal

Posted by: Scott Thompson

We may have handled the GFC better then most countries but the current slow economy is full of testing times for business owners.  The danger for businesses now is even greater then during the GFC as we experience a slow down due to economic lag and overseas financial fallout. Some businesses who struggled through the GFC and the couple of years that followed, will now be realising they have not rebounded as planned – they have been mortally wounded, business death for them is not far away.  As entrepreneurs and businesses discover, the tighter lending policy from the banks results in reduced cash flow funding options.  No matter how great your business runs tight fiscal control and management - you are always exposed to collateral damage.  Do not become default bankers for your clients by providing interest free unsecured loans. Complacency is your enemy. You must be vigilant in hunting debtors. This requires registering secured interests, a debtor recovery policy and quick results. Does this aspect of your business need attention?

Budget boon for first home owners and construction industry

 Posted by: Tony Allen

In the Joint Statement of Premier, The Honourable Campbell Newman and Treasurer and Minister for Trade, The Honourable Tim Nicholls on Monday, 10 September, 2012 it was announced that:

First home buyers will receive "$15,000 - up from $7,000 - when purchasing a newly constructed home or property off the plan, under the re-shaped First Home Owner Construction Grant (formerly First Home Owner Grant)" [FHOG].

The relevant facts about the FHOCG are:

• The Newman Government’s First Home Owner Construction Grant is worth $15,000
• The FHOCG is for first home buyers who are buying a newly constructed or off-the-plan property
• The FHOCG replaces the First Home Owner Grant which was $7,000
• Those first home buyers who are about to purchase an existing dwelling will have until October 11 to finalise their contract (to be eligible for $7000 grant)
• First home buyers signing contracts for new properties before September 12 will receive $7000 and those signing on or after September 12 will receive $15,000
• The program will be administered within existing arrangements in the Treasury department
• Major banks and financial institutions will continue to advertise the FHOCG in their loan marketing material, reducing the cost for taxpayers

The following eligibility criteria still apply:

• It must become your principal place of residence within one year of taking ownership.
• It must be your principle place of residence for at least six months.
• You must not dispose of all or part of the property within one year after you start to occupy the residence as your home.
• The property must be bought or built at a value under $750,000

If you would like to know more, contact our Tony Allen on 07 3234 3112 or email.

 

Minister "calls in" Jewel Development on the Gold Coast

Posted by: Megan Tilbrook

I read this week that the Deputy Premier and Minister for State Development, Infrastructure and Planning has made a decision to "call in" the proposed $1 billion Jewel development proposed for Surfers Paradise. This is an astonishing turn of events as it essentially means that two valid submitter appeals which were made to the planning and environment court against the Gold Coast City Council's approval will no longer have any effect. Mr Seeney will now make the final decision on the project in accordance his powers under the Sustainable Planning Act 2009. According to the Ministerial Media Statement from 11 July 2012, the aim is to kick start the slumped construction industry on the Coast, and to "ensure applications such as this do not languish or get bogged down in protracted legal proceedings". It is clear the Minister is of the view that some submitter appeals are creating "red tape" for approvals, potentially undermining the important role that members of the community can play in the planning process. The ability to appeal against an impact assessable development is a right that should not be taken away lightly. This is the first time a ministerial "call in" has been made by the Newman Government and will no doubt raise an interesting argument on the competing interests of submitters having their say and the significant delay that can occur as a result of court proceedings brought by submitters. Mr Seeney's decision on the proposed development is expected to occur by early August. The Ministers decision will not be able to be appealed on planning grounds.

Sustainable Planning & Other Legislation Amendment Bill 2012 introduced into Parliament today

Posted by: Megan Tilbrook

The State Government announced proposed amendments to the Sustainable Planning Act introducing the amendment bill into parliament today.  According to the Government there will be some significant changes to the planning legislation in an attempt to "restore efficiency and consistency to Queensland's planning and development system".  Some of the key changes to look out for are:

1. the streamlining of the development application process, allowing developers to deal with one single officer, rather than multiple departments when seeking State Government assessment of development applications;
2. the removal of master and structure planning arrangements;
3. the discretion on the part of Councils to accept development applications that do not contain all of the required supporting information; and
4. the expansion of the Planning and Environment Court's powers to impose cost orders, with the general rule being that costs of a proceedings are at the discretion of the court but follow the event, unless the court orders otherwise.

The proposed amendments will have an impact on the way applications are handled and on how the court process runs.  I am sure there will be much more discussion in relation to these amendments, and in particular, I wonder what an "event" will be for the purpose of the costs provision. For more information, the Bill can be found by following this link.