Significant reforms announced by Treasurer to merger laws
The Federal Treasurer has announced sweeping reforms to the merger laws following persistent pressure from the Australian Competition and Consumer Commission (ACCC) for reform.
T&Cs and NTFs
What is an NFT?
A Non-Fungible Token (NFT) is a type of digital asset or token of a small piece of data linked to an object, such as a unique image, cartoon or animation.
Federal Government releases draft reforms to the unfair contract terms regime
The Federal Government has unveiled an exposure draft of the Treasury Laws Amendment (Measures for a later sitting) Bill 2021: Unfair contract term reforms (Exposure Draft) which seeks to amend the Australian Consumer Law (ACL) to improve the unfair contract terms (UCT) regime.
Subcontracting? – check your obligations
When we engage someone to perform a task, it is a common expectation that it will be that person or organisation who actually does the work. This is particularly the case for professional advice, consulting or areas of knowledge where the expertise of specific individuals is a key reason for entering into a contract for services.
ATO “Next 5,000” Tax Performance Program – Our Top Tips
For some time, the Australian Taxation Office (ATO) has been issuing notices for a compliance program focussed on the “Next 5000” private groups in Australia (Next 5000 Tax Performance Program).
Defective clause in trust deed triggers duty surcharge
State and federal tax provisions often result in different tax outcomes for trustees depending on what type of trust is involved.
What is a false and misleading claim? ACCC’s appeal on “flushable” wipes
The case of ACCC v Kimberly-Clark Australia Pty Ltd [2020] FCAFC 107 (ACCC v Kimberly-Clark) is a reminder that companies must be aware of their obligations under the Australian Consumer Law (ACL) when making claims about their products.
Sony ordered to pay $3.5 million for misrepresenting consumer rights
The Australian Competition and Consumer Commission (ACCC) has continued its rampage on the online marketplace industry in ACCC v Sony Interactive Entertainment Network Europe Ltd [2020] FCA 787, as it continues to vigilantly protect Australian consumers that purchase items online.
COVID-19 Company Admin Update
Further to our article here where we wrote about the Australian Securities and Investments Commission’s (ASIC) guidance regarding annual general meetings and the COVID-19 pandemic, the Treasurer has released the Corporations (Coronavirus Economic Response) Determination (No 1) 2020 (Cth) (Determination), which commences on 6 May 2020 and will be automatically repealed on 5 September 2020.
ASIC v King – Are you an “officer” of a company?
In this case, the High Court reiterated that a person can be deemed to be an “officer” of a company even if that person does not hold a position as a named ‘Director’ or ‘Secretary’.
COVID-19 charity support
On 6 May 2020, the government announced here that they will incentivise charities to provide increased support in response to the COVID-19 situation, after studies revealed that the effects of COVID-19 had already seen a decrease in charitable giving, which was only likely to further decrease in 2021.
Cancelled weddings and COVID-19
On 18 March 2020, the Australian Competition and Consumer Commission (ACCC) released guidance on their expectations regarding weddings that are cancelled as a result of COVID-19 restrictions and lockdowns.
First and foremost, the ACCC “expect” businesses to treat consumers “fairly” in connection with cancellation or refund requests resulting from COVID-19 restrictions.
COVID-19 – changes to foreign investment review regime
On 29 March 2020 the Federal Government announced changes to the foreign investment review regime as Australia continues to deal with the economic implications of COVID-19.
Once the legislation is passed, effective from 29 March 2020, all proposed foreign investment into Australia subject to the Foreign Acquisitions and Takeovers Act 1975 will require approval.
COVID-19: ‘JobKeeper’ support payment
On 30 March 2020 the Federal Government announced further COVID-19 business support in the form of the JobKeeper Payment, which is intended to keep individuals connected with their employer and talks to the ‘hibernation’ of businesses already mentioned by the Prime Minister.
Under the JobKeeper Payment, businesses significantly affected by Coronavirus outbreak will be able to access a $1,500 support payment per employee per fortnight for up to 6 months from the Government to continue paying their employees.
Government and ATO COVID-19 Support Packages Summarised
Both Federal, State and Territory Governments and the Australian Taxation Office (ATO) have adopted measures to assist taxpayers and businesses through the current COVID-19 crisis. We have prepared a summary of the support packages.
Changes to the Building Amendment (Swimming Pool and Spa) Regulations 2019
The Building Amendment (Swimming Pool and Spa) Regulations 2019 (“the Regulation”) commenced on 1 December 2019 and added mandatory requirements for landowners who have a swimming pool or spa.
Changes to the Retail Leases Act: how will you be affected as tenant or landlord?
The Retail Leases Amendment Bill (Bill) proposes reforms to the Retail Leases Act (Act) in an effort to make retail leases fairer and easier to understand.
Victorian Farmers, will changes to retail leasing apply to you?
In some circumstances farm leases will be outside the scope of The Retail Leases Act (Act) following a determination by the Minister for Small Business, exempting farm leases from the Act, effective from 29 October 2019.
Australia’s FinTech Regulatory Sandbox Now Open – Introduction of new Bill puts measures in place to begin easing regulatory burden on FinTech start-ups.
On 15 October 2019, the Treasury Laws Amendment (2018 Measures No 2) Bill 2019 (Bill) passed the House of Representatives and has now been introduced to the Senate.