All businesses should be aware of the importance of properly recording security interests on the Personal Property Securities Register (PPS Register). The courts have once again reminded us of the importance of strict compliance with the legislation when registering security interests, and the potential to lose property to third parties when registrations are inadequate in the event of external administration. In the matter of OneSteel Manufacturing Pty Limited (administrators appointed)

In a ground breaking win for property developers, a recent NSW Court of Appeal decision found that land held for future development but used for grazing, can be exempt from land tax.