A closer look at related party reporting for charities
Not-for-profit organisations and charities registered with the Australian Charities and Not-for-profits Commission (ACNC) often engage in agreements and arrangements with individuals or entities with whom they share pre-established connections or a common interest, particularly when starting out.
Recent VCAT ruling heightens stamp duty risk in capital raisings
A recent VCAT decision has served as an important reminder for those undertaking capital raising for funds investing in real property, including for development.
Another Facial Recognition Technology Privacy Breach – AFP in the Spotlight
The Australian Information Commissioner and Privacy Commissioner, Angelene Falk, has recently determined that the Australian Federal Police (AFP) has failed to comply with its privacy obligations in using the Clearview AI facial recognition tool (FRT).
Is Facial Recognition Technology Breaching Your Privacy?
Facial recognition technology (FRT) is now utilised across many industries and businesses. While FRT is becoming increasingly easier to implement, it is crucial that business’s adhere to privacy laws when using this technology.
Director Identification Numbers: What do I have to do?
From 1 November 2021, Director Identity Numbers (DINs) became mandatory for all company directors. Accordingly, all directors are now required to apply for a DIN and should begin preparing their applications.
Global Citizen in the AAT – a change in the interpretation of PBI?
The Administrative Appeals Tribunal (AAT) recently rejected the Australian Charities and Not-for-profits Commission’s (ACNC) decision to deny a charity known as Global Citizen Limited (Global Citizen) access to Public Benevolent Institution (PBI) status because its activities included advocacy.
Digital piracy and the potential for new directors’ duties
The impacts of COVID-19 have sped up Australia’s transition to a digital economy and accelerated virtual means of conducting business.
Employee Share Schemes – Another Report Supports Further Reform
Although Employee Share Schemes (ESSs) are appealing on the surface, they are undermined by complex legislation and confusion regarding upfront or deferred taxation.
Clarification regarding electronic execution and convening of company meetings
In welcome news for company directors, the Treasury Laws Amendment (2021 Measures No. 1) Bill 2021 (Amendment Bill) to temporarily permit electronic execution and convening of company meetings has finally been enacted.
Federal Court stresses the Importance of Trust Deed Interpretation
A recent decision handed down by the Full Federal Court in Advanced Holdings Pty Limited as Trustee for the Demian Trust v FCT [2021] FCAFC 135 emphasises the important principles of trust deed interpretation and the limitations of statutory provisions concerning the evidentiary force of company records. The decision also serves as a valuable reminder for directors of small companies and corporate trustees to maintain good records.
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’.