Thought Leadership
Australia’s proposed privacy reforms could change how businesses collect, use, share and protect personal information. Businesses should review their commercial contracts, data practices and AI arrangements now, before the proposals become law.
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Increased ATO debt recovery action likely to lead to credit tightening and increase recovery action for SMEs
Recently, liquidators we have dealings with, are reporting an increase in enquiries relating to new collection activity from the ATO as it seeks to address the $1.3 billion shortfall against its compliance revenue target.
How can my Company Raise Capital from Investors without a Prospectus?
Both Public and Private Companies seeking to raise money from investors need to comply strictly with the capital raising rules set out in the Corporations Act 2001. Failure to comply can result in fines or even imprisonment in severe cases.
How Do You Enforce Foreign Judgments In Australia?
If you are a business located outside of Australia or an overseas legal practitioner acting for clients and looking for ways to recover judgment debts from a person or business with assets in Australia, then it is important that you carefully consider the available process for registering and enforcing foreign judgment in Australia to avoid…
New Obligations Force Franchisors to be More Transparent
The changes are designed to increase the obligations on Franchisors to be more transparent and increase the information provided to Franchisees.
Business Succession Planning – What is it and Why is it Important?
Business Succession Planning is essential for protecting your interest in a co-owned business and is an integral part of every business co-owner’s individual estate planning.
Revenue NSW Audits for Foreign Person Surcharge Purchaser Duty
If you are considered a ‘foreign person’ for the purposes of the Duties Act 1997 (NSW) (“Duties Act”), you are also required to pay surcharge duty on the dutiable value of the property you are purchasing (known as surcharge purchaser duty).
Company Constitution and the Replaceable Rules
Most companies will adopt a document called a ‘Constitution’ upon registration. A Constitution is a contract between the company, its Directors and its shareholders that prescribes the governing rules and overall management of the company.
Sale of Business – Why is the Apportionment between Goodwill and Equipment relevant?
If your sale of business includes the transfer of both equipment and goodwill, the sale price will need to be apportioned between equipment and goodwill. There are tax implications of this apportionment and as such it is best to seek advice from your Accountant prior to agreeing to an apportionment in the sale of business…
5 Steps to Sell your Business with Confidence
Once you have made the decision to sell your business, you will need to consider whether to engage a business broker, being a professional who helps buy and sell businesses.
Discretionary Trusts and Surcharge Purchaser Duty and Land Tax
In accordance with the State Revenue Legislation Further Amendment Act 2020 (NSW), unless your Trust Deed specifies otherwise, trustees of discretionary trusts are deemed to be foreign trustees even if no eligible beneficiaries to the trust are foreign persons.
Changes to landholder duty on the transfer of shares
In NSW, you may be liable for ‘landholder duty’ when you acquire shares in a company or units in a trust that owns land (“a landholder”) with a threshold value of $2 million or more.
NSW Commercial Leasing Regulations for Covid-19
The Retail and Other Commercial Leases (COVID-19) Regulation 2020 (NSW), which commenced on 24 April 2020, is the NSW government’s response to the National Government’s Mandatory Code.
