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TAS – Matter Information Sheets

We have created hyperlinks for all Matter Information Sheets currently available in LEAP Community.  The Information Sheets are How to articles to assist you on matter setup and common form usage.  Information Sheets that are matter specific are located in the LEAP Forms folder and Information Sheets that are relevant to a particular form are located immediately preceding the form.

Matter Information Sheets hyperlinks for TAS are available as follows: [Read more…]

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TAS Foreign Purchaser Duty Surcharge

As from the 1st April, 2020 the duty surcharge on Foreign Investors is increasing:-

For agreements (or transactions without a written agreement) on or after 1 April 2020, the following surcharge rate applies:

  • ​8 percent on the proportion of the dutiable value of residential property directly or indirectly acquired by
    a foreign person; and
  • 1.5 per cent on the proportion of the dutiable value of primary productions property directly or indirectly acquired by a foreign person.

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Loan Agreement – new matter type

Following client requests, a new Loan Agreement matter type has been added to all jurisdictions and is located in the following folders:

  • Conveyancing & Property > Mortgages > Loan Agreement (defaults to acting for the borrower)
  • Other Areas of Law > Banking & Finance > Mortgages > Loan Agreement (defaults to acting for the lender)

Loan Details table

The loan details table has been created to specifically provide the necessary fields for no security loan agreement precedents.  All these fields will automate into these precedents:

Guarantor’s subsidiary layout

When a card is entered in the guarantor’s table, a guarantor’s subsidiary layout will appear for completion.  Again, all these fields will automate into the no security loan agreement precedents:

Critical Dates

The following critical dates have been assigned as defaults to this matter type:

  • Instruction date
  • Loan agreement executed
  • Date advance anticipated
  • Funding date
  • Final instalment due
  • File review date
  • Completion / Settlement Date
  • Not proceeding date

Folders and Forms Added

The necessary LEAP folders have been created and/or shortcut to each jurisdiction (where applicable) including:

  • Initial File Setup
  • Verification of Identity
  • Relevant Revenue Office
  • Relevant Land Titles Office
  • Legal Profession Uniform Legal Practice Rule forms

A new file cover sheet has been added for each jurisdiction as follows:

  • File cover sheet – Loan agreement [LL-NSW-GEN-0082]
  • File cover sheet – Loan agreement [LL-VIC-GEN-039]
  • File cover sheet – Loan agreement [LL-QLD-GEN-027]
  • File cover sheet – Loan agreement [LL-SA-GEN-001]
  • File cover sheet – Loan agreement [LL-ACT-GEN-002]
  • File cover sheet – Loan agreement [LL-WA-GEN-007]
  • File cover sheet – Loan agreement [LL-NT-GEN-001]
  • File cover sheet – Loan agreement [LL-TAS-GEN-008]

If you would like to provide feedback on the new matter type, or request new forms or precedents, please email the content team at content@leap.com.au

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Off the Plan – new matter type

A new matter type has been released for Off the Plan which is located in the Conveyancing & Property folder > Property > Off the Plan.

This matter type is similar to the standard conveyancing matter types with the additions of the Development Details table and Off the Plan matter specific Critical Dates.

If you would like to provide feedback please do so here.

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New Matter Category and Types – Rural Law \ Agribusiness

LEAP are pleased to announce that with help from our clients, a new matter category has been created entitled Rural Law / Agribusiness.

Under Rural Law/ Agribusiness we have created two new matter types:

  • Purchase of Rural Property; and
  • Sale of Rural Property.

These matter types can be found under ‘Other Areas of Law > Rural Law / Agribusiness’.

 

 

 

 

 

 

 

 

 

 

 

 

These 2 new matter types have been based on the Sale/Purchase of Business, with a few tweaks.  We have also added a new layout entitled ‘Assets/Property’.  This layout is to capture the different aspects of property that can be sold/purchased with rural property and includes options such as:

  • Tools of trade;
  • Stock-in-trade;
  • Plant & Equipment;
  • Fixtures & Fittings;
  • Leasehold & Licences;
  • Brands / Ear tags;
  • Permit to occupy
  • Goodwill;
  • Livestock;
  • Encumbrance.

A total for the amounts entered will appear on the Summary page of this layout and will also display on the matter when the layout is closed.

We have kept the Calendar & Tasks dates the same as the Sale and Purchase of Business however a couple of extras have been included as a result of client feedback which are:

  • Ministerial Consent Date
  • Muster Date
  • PPSR Registration Date

All of which have confirmation tickboxes.

This new area of law is very exciting and has now been expanded to include South Australia, Western Australia, Tasmania and the Northern Territory.

For our Tasmanian, South Australian, Northern Territory and Western Australian clients if you have any feedback that you would like to make regarding either of these new matter types, or some further matter types for Rural Law, the Content team would be interested to hear from you.  We would also like your feedback as to any forms that you require us to create and code for use with these matters.  Please email content@leap.com.au and we shall be in touch shortly.

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Automation of critical dates in Lease matters

In February 2019, the following critical dates were added to Calendar and Tasks for Lease matter types after feedback was received from clients that it would be beneficial to the user in the management of Lease matters.

  • Disclosure statement
  • Lease executed
  • Lease commencement
  • Lease termination
  • Rent commencement
  • Lease registration

Three of the dates, Lease commencement, Lease termination and Lease registration were already in the Lease Details table and to avoid the user from having to enter those dates both in the Lease Details table as well as in critical dates, the three dates were automated to prefill the date fields in the Lease Details table once entered in Calendar and Tasks.

We have since received feedback from clients requesting that we remove the automation of the dates as it locks the field on the layout and the automated field can no longer be used in other matter types that do not have the same critical date scheme. We also received feedback that the automation of the dates was removing the manually entered dates from old lease matters.

As a result of the feedback received, we will be reversing the changes made in relation to the three dates, Lease commencement, Lease termination and Lease registration by:

1. Removing the date automation and reverting to manual entry of the three dates on the Lease Details table;
2. Removing the associated three dates from the critical date scheme for Lease matter types; and
3. Reverting to the old fields on the layout so that dates entered in old Lease matters are retained.

The reversal of the changes will occur on Thursday 2 May 2019.

Once the changes have been reversed, any dates entered since February 2019 in Calendar and Tasks that auto populated the fields in the Lease Details table will remain in the Lease Details table and the dates entered in old Lease matters should be unaffected if those matters haven’t been opened since February 2019.

You can continue to enter the dates in Calendar and Tasks until the date automation is removed at which time the three dates will need to be entered directly in the Lease Details table moving forward.

In the meantime, and as part of our work to make LEAP simpler and easier to use, we will continue to work on further refinements on the date automation feature to provide our clients more options.

If you would like to submit any feedback to us please do so here.