Topics

This session with Alan Connor of Grant Thornton will provide material to support AICNSW members understanding of their obligations under the AML/CTF Act and Rules, specifically covering:

• Overview of the Starter Program structure 

• its role in compliance 

• an explanation of included components (Risk Assessment, Policy, Processes, and Forms)

• outline of the steps to take in preparation to enrol with AUSTRAC before 1st July

• What is an ML/TF Risk Assessment and how it supports complying with AML/CTF obligations

• Overview of each role specified by the AML/CTF Act and Rules (GB/SM/AMLCO)

Understanding planning law and local government regulations, and their implications in a conveyancing transaction, is a core part of the due diligence process. Whether you are reviewing a s 10.7 certificate, assessing the enforceability of a restrictive covenant, or navigating local government building restrictions, there is always the potential for unexpected issues to arise. 

In this session, Angela will provide a practical look into the planning and building documents that form the backbone of your due diligence process.  The presentation will cover:

•  Planning Certificates

• Development Consents

• Enforceability of Restrictive Covenants

• Building Information Certificates, and

• Occupation Certificates.

Conveying strata title properties presents a unique set of challenges that can easily trip up even the most experienced practitioner. 

In this session, strata specialist Gerard Doyle digs into the more nuanced and often problematic aspects of these transactions,  providing practical insights to help you navigate disclosure gaps and manage client expectations.  Gerard will share his expertise  across several key areas, including:

• s.184 certificates: What they do (and don't) disclose, which "red flags" practitioners should watch for, and when further enquiries are essential.

• By-laws: A practical review of enforceability and how to effectively advise clients on their long-term impact.

• Strata inspection reports: Best practices for reviewing reports and translating findings into actionable advice.

• Off the plan (OTP) contracts: Navigating the specific risks and contractual nuances unique to OTP strata developments.

With various changes in duties legislation and RNSW guidance notes over the last few years, staying ahead of Revenue NSW’s everchanging requirements is a core risk management strategy for any conveyancing practice. This session looks at property related taxes and duties, focusing on the most significant judicial decisions and administrative changes from the past 12 months.

Oliver will also discuss the recent reforms to the Revenue NSW interest regime, and explore the impact of the new legislative guidelines on interest remission and what they mean for practitioners. Oliver will also examine the specific "pain points" identified by Revenue NSW in relation to property transactions, including common errors in land tax clearance and duty assessments including a look at the "red flags" that trigger Revenue investigations.

 Whether you are dealing with the changes to principal place of residence land tax exemptions or foreign person surcharges, this session provides the clarity needed to ensure your practice remains compliant and your clients are protected from unexpected tax penalties.

Professional negligence claims are an ever-present risk in a busy practice. In this session, Garth Brown provides a high-level review of current "danger zones" in conveyancing transactions, backed by real-life examples and practical tips to help you manage your files more securely.

Key areas of focus include:

• Navigating GST  and GST withholding traps

• Managing disclosure for flooding, bushfire, coastal erosion, and contaminated land.

• Practical tips and traps around Section 47 Certificates

• A practice checklist for Notices to Complete and Notices to Perform.

• Identifying and managing Development  Application risk related to surrounding properties.

This session is designed to be interactive; Garth encourages attendees to bring their questions and share insights from their own practice experiences during the Q&A.