Not For Profit, Tax Harwood Andrews Not For Profit, Tax Harwood Andrews

Australia’s Charities and Not-for-profits - Options Paper released

In line with its election promise to abolish the Australian Charities and Not-for-profits Commission (ACNC), the Abbott Government has now released Options Paper, Australia’s Charities and Not-for-profits which seeks feedback on its proposed arrangements for charities in Australia. The Government’s proposed arrangements attempt to balance the administrative burden of reporting with the need for organisations receiving concessional tax treatment to be publicly accountable.

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Succession Planning, Powers of Attorney Harwood Andrews Succession Planning, Powers of Attorney Harwood Andrews

Succession planning checklist

There are a wide variety of events that should prompt you to review your succession plans: for example, the ageing of an executor appointed in your will; the arrival of children or grandchildren; the breakdown of a child’s marriage; the threat of some commercial misfortune to a child; the graduation of a child into a professional career; or a resolve to assist a needy charity.

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Employment Law and OH&S Harwood Andrews Employment Law and OH&S Harwood Andrews

Enterprise Agreement Knocked Back Due To Invalid Notice of Representational Rights

Any employer which has gone through the process of negotiating and making an enterprise agreement with its employees and seeking approval of the agreement from the Fair Work Commission (FWC) will know that the process and approval requirements can be complex and time consuming and that the requirements for approval are quite technical.

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Commercial Contracts Harwood Andrews Commercial Contracts Harwood Andrews

Beware of Sham Registrations on the Personal Property Securities Register

To register a security interest on the Personal Property Securities Register (Register), there is no requirement to file the underlying agreement that creates the security interest.  Accordingly, the Personal Property Securities Registrar cannot determine whether or not a registration is justified simply on the face of the details inputted into the Register. This therefore opens the Register up to abuse by the lodgement of sham registrations. 

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Employment Law and OH&S Harwood Andrews Employment Law and OH&S Harwood Andrews

First Fair Work Commission ruling on merits of bullying complaint

The anti-bulling jurisdiction of the Fair Work Commission (FWC) has now been in place for over 4 months, and the first decision ruling on the merits of an application has been handed down.

 The hearing of the application was conducted in private, and the names of the parties and individuals involved were kept anonymous in the published decision.  In that decision, the FWC rejected a manager’s claim for anti-bullying orders, finding that there was insufficient evidence there had been repeated unreasonable behaviour towards the applicant, or that any unreasonable behaviour had created a risk to health and safety.

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Family Business Harwood Andrews Family Business Harwood Andrews

Family Trusts - Structuring for Family Business

When recommending a structure to conduct a business or hold an investment, advisors should consider a number of issues, primarily the income taxation consequences of the structure, the ability to access applicable capital gains tax reliefs upon a sale of a capital appreciating asset, the asset protection benefits of the recommended structure and how the structure works to ensure that control of the asset passes to the next generation upon death in a succession plan.  Legal and accounting advisors routinely recommend a discretionary trust structure for these purposes. However, it is important to highlight the difficulties that a discretionary trust structure poses in planning for succession and how those difficulties are best addressed.

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Retirement & Aged Care Harwood Andrews Retirement & Aged Care Harwood Andrews

Aged Care Reforms

The second round of changes set out in the federal government’s Living Longer Living Better aged care reform package will commence on 1 July 2014.

The reforms aim to provide more choice, easier access and better care. However, there are concerns that many retirees will end up paying more for their admission to and ongoing care in aged care facilities, due to the changes in the way daily care fees will be means tested.  

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Commercial Contracts Harwood Andrews Commercial Contracts Harwood Andrews

Personal Property Securities Regime: The practical implications

Arguably not since the introduction of GST has there been a more urgent need for businesses to review and revise their business practices, procedures and documentation than now.  With the recent commencement of the Personal Property Securities Register under the Personal Property Securities Act (PPS Act), businesses need to take proactive steps to protect their businesses.

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Commercial Contracts Harwood Andrews Commercial Contracts Harwood Andrews

Ownership is no longer king: The consequences of failing to register an ownership interest in goods

On 27 June 2013, the first major decision in Australia in regard to the Personal Property Securities Act 2009 (Cth) was handed down in the New South Wales Supreme Court.  The decision in the case of Maiden Civil v QES [2013] NSWSC 852 is a powerful illustration that possession can trump ownership if you do not register your interest in goods on the Personal Property Securities Register (PPS Register). 

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Commercial Contracts Harwood Andrews Commercial Contracts Harwood Andrews

Protect your assets - The Personal Property Securities Regime - what it means for your business

It could be argued that not since the introduction of the GST has there been a more urgent need for businesses to review and revise their business practices, procedures and documentation. In January 2012 the Personal Property Securities Act introduced a new Personal Property Securities Regime which, in effect, compels business owners to take proactive steps to formally register their interests in certain assets if they wish to ensure their business and their assets are properly protected.

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