Legal news
With only 4 solid working weeks remaining, 2014 is already upon us. These coming weeks will be swallowed up by end of year functions and completing those jobs that were due back in July. While we admit we are adding another inconvenient issue to the plate, this alert is essential reading for all employers.
Collectables, market value reporting, separation of assets, investment strategies and 30% tax on contributions
In our first two articles on stronger super and SMSFs we set out a time line of the various stronger super and other Government changes that have affected self managed superannuation funds (SMSFs) in the last few years. In this article we look at some of those changes that commenced in the 2011/12 and 2012/13 years in more detail.
Most businesses will have standard form policies and procedures relating to privacy. While these policies can be found on business websites and on documents handed out to customers and clients, they are too often left on the shelf collecting dust. Invariably, business owners tick the regulatory box with the implementation of a privacy policy, and then continue to focus on the most important part of their business - doing business.
The director penalty regime has been in place since 1993 and most directors have at least a “working knowledge” of how the provisions operate and when they could become personally liable for the pay as you go (PAYG) withholding tax liabilities of their company. However, from 30 June 2012, the director penalty regime has been significantly expanded to include the superannuation guarantee obligations of the company, as well as restricting the application of some of the statutory defences.
On 27 June 2013 the first major Personal Property Securities Act 2009 (Cth) (PPSA) judgment was handed down in Australia in the New South Wales Supreme Court. The decision in the case of Maiden Civil (P&E) Pty Ltd; Richard Albarran and Blair Alexander Pleash as receivers and managers of Maiden Civil (P&E) Pty Ltd & Ors v Queensland Excavation Services Pty Ltd & Ors [2013] NSWSC 852 provides guidance on the operation of the PPSA and how to resolve priority disputes.
Further to the Government’s release of Advancing Australia as a Digital Economy: Update to the National Economy Strategy on 12 June 2013 (refer to Employee share scheme announcement - 21 June 2013 for an overview), Treasury and the Department of Industry, Innovation, Climate Change, Science, Research and Tertiary Education issued the discussion paper Employee Share Schemes and Start-up Companies: Administrative and Taxation Arrangements.
Nick: “You got us a job at Google?” Billy: “Well, not a job job. It’s an interview for an internship that could lead to a job. Nick, this might be the last chance that we’ve got.”
The recently released Hollywood flick, The Internship, portrays a playful spin on life as an intern at Google, with its characters competing for a permanent role at the dreamy tech-giant. However, the unpaid – learn on the job – internship (better known as ‘work experience’ in Australia) is facing increasing scrutiny from government and has also provoked popular media commentary on the lack of worker rights in these roles.
Consider the branding that your business or organisation uses and the photographs and images it employs on packaging and products, on its website and in brochures and advertising materials.
Do you own these images or have a licence to use them? A recent Federal Court case highlights how easily the copyright subsisting in such photographs can be overlooked.
Launching a new brand and identity might seem like a daunting task for many businesses, but for law firm Sladen Legal, it was an exciting step forward. On Monday 20 May, the Melbourne-based firm started operating from a brand new office, with a new name, a new focus and a clear vision for its future.
On 10 May 2013, the High Court of Australia refused the taxpayer special leave to appeal FCT v Greenhatch [2012] FCAFC 84; [2011] AATA 479.
Accordingly, prior to 1 July 2010 and the amendments made by TLAM No 5 2011, differential streaming of capital gains between trust beneficiaries was ineffective. The beneficiaries of any trust that has differently streamed capital gains will have an exposure to audit activity, amended assessments and penalties.
On 3 May 2013, the Supreme Court of Victoria handed down its decision in Lockwood v PSP Investments Pty Ltd [2013] VSC 10 (Lockwood).
This decision considers a critical issue in off the plan developments – what amendments can be made to a proposed plan of subdivision between the time that a contract is entered into and registration of the plan of subdivision, without giving a purchaser a right to terminate their contract?
