Australian College of Professionals Australian College of Professionals

Rent in advance is when a tenant pays rent on or before the due date and this payment is then allocated for a specific period of time in accordance with the requirements in their residential tenancy agreement. In NSW, a landlord/agent cannot ask the tenant to pay more than 2 weeks rent in advance and cannot ask for the tenant’s next rental payment until all rent has been used up.

When a property is owned by one or more individuals, then those individuals are the person/s who sign an agency agreement with a property agent when listing a property for either sale or lease. However, when a property is owned by an entity rather than by an individual, such as a pty ltd company or a trust, then the agreement must be signed by an authorised person from that entity. Such an authorised entity is most usually a director of the company. In NSW, where property agents need to sight identification documents, the agent needs to verify that the person signing on behalf of the company is a Director of that company, or duly authorized by a Director. This would best be checked from an ASIC search of the company identifying the directors at that point in time.

Small businesses with an aggregated annual turnover of less than $50 million will be allowed an additional 20% tax deduction for external training courses delivered to employees by registered training providers. This tax boost applies to eligible expenditure incurred from 29 March 2022 to 30 June 2024. The Australian College of Professionals is a registered training provider that meets the criteria for the provision of training that will attract this additional tax deduction for its students. Check out the Small Business Commissioner’s website for additional information.

October is Safe Work month in NSW, which means it is a time to recognize the importance of a safe and healthy workplace for everyone. Take the time to have conversations with your work colleagues and remember that a safe workplace is not just about physical safety, but also about mental safety. Set some goals to improve work health and safety in your environment.

A person who wishes to purchase ‘a management rights complex’ must hold a Class 1 Real Estate Licence with an on-site residential property manager restriction condition. In accordance with the Property and Stock Agents (Qualifications) Order and to make application for such a licence, they must have completed the Certificate IV in Real Estate Practice qualification and meet all of the usual licence application criteria in terms of age, disqualifications and fit and proper status.

Yes – absolutely yes. From the date that an Assistant Agent is issued with their authority from NSW Fair Trading, they have 4 years to complete their Certificate IV level qualification and make application for a Class 2 licence. If they do not make application for a Class 2 licence during that 4 year period, their Assistant Agent authority will lapse and they will have to wait 12 months before they can reapply for another Assistant Agent authority.