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.

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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Response) Determination (No 1) 2020 (Cth) (Determination), which commences on 6 May 2020 and will be automatically repealed on 5 September 2020.

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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’.

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Business Structuring, Tax Paul Gray Business Structuring, Tax Paul Gray

Farmers – Keep those records!

The case of Annat v Commissioner of State Revenue [2020] VSC 108 (Annat) serves as a timely reminder for those operating a farm about difficulties faced by farming land owners in continuing to qualify for a primary production land tax exemption and the importance of ensuring that their structuring and record keeping practices are up to scratch.

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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.

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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.

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Business Structuring, Tax Paul Gray Business Structuring, Tax Paul Gray

Hold on to your trustee duties – Court of Appeal clarifies dutiable transfer exemption requirements

A recent Court of Appeal (Court) decision has clarified the application of section 35(1)(a) of the Duties Act 2000 (Vic). This section provides an exemption from transfer duty that applies when property is transferred to a trustee to be held solely as trustee of the transferor without any change in the beneficial ownership of the property.

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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.

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