Legal Insights
Changes to term deposit accounts
From 1 January 2015 the standards imposed by the government regulator on deposit taking institutions are being tightened. The measure is part of a global initiative to improve the liquidity of the finance industry.
Business Restructure Roll-Overs Extended in Tax Law Bill No. 6 2014
The Tax and Superannuation Laws Amendment (2014 Measures No 6) Bill 2014 (the Bill) has now been passed by both Houses of Parliament and is expected to receive assent shortly.
Introducing Family Business Hub
Family Business Hub has been established by Harwood Andrews as a specialist consulting service to provide advice, support and expert knowledge to families in business.
HO HO HO....when holiday plans go awry.
When the Rolling Stones cancelled not one but two Australian concerts in 2014, the ticket providers offered refunds to those concert ticket holders. But what about the cost of flights or accommodation?
Shareholder disputes – Supreme Court takes alternate approach
Many small to medium sized businesses face disputes between shareholders. Often these shareholders are family members. Shareholder disputes are notoriously expensive to resolve and typically take the form of “oppression” claims commenced in the Supreme Court of Victoria under the provisions of s 233 of the Corporations Act 2001 (Cth). Although individual disputes will differ, all these disputes have in common allegations that the affairs of a company have been conducted in an oppressive manner.
Trickle-down liability in the supply chain
“If you’re contracting out, and the price seems too good to be true, someone’s probably getting ripped off. And if it turns out to be the workers, and it turns out you half knew that, then you are in danger yourself of having been involved in a contravention”
Electronic conveyancing is coming
The coming of electronic conveyancing has been touted for over 10 years. Initially planned to provide an online platform for conveyancing commencing with enquiry with an estate agent to final settlement, the reality is a more modest electronic settlement facility. It will be the equivalent of the Australian Stock Exchange for property settlements.
Will Australia implement mandatory gender quota legislation?
I recently represented Harwood Andrews at an International Corporate Governance Forum focusing on mandatory gender quota legislation. The forum featured overseas representatives from The Netherlands, South Africa, Germany and Norway, as well as corporate representatives from Australia.
ALRC is Looking to Crack Down on Breaches of Privacy
The Australian Law Reform Commission released a Discussion Paper, Serious Invasions of Privacy in the Digital Era which set out over 40 proposals for reform, including new causes of action for invasion of privacy. A Summary Report has recently been published which recommends the adoption of a great many of those proposals.
Adverse action pinned down by the high court
The High Court of Australia has handed down its second significant decision on the interpretation of the adverse action provisions in the Fair Work Act 2009 (the Act). Readers will recall the High Court’s 2012 decision in the Board of Bendigo Regional Institute of Technical and Further Education v Barclay which provided employers with guidance on what must be established to defend a claim that adverse action had been taken against an employee for a prohibited reason.
New legislation changing the way wills can be contested
The Victorian government passed the Justice Legislation Amendment Act on 16 October, just before the deadline was crossed before it moved into caretaker mode.
The Act includes significant amendments to the laws governing the contesting of wills, that is, claims by those who consider that a will has not properly provided for them.
Are you in Breach of the Privacy Act?
On 12 March 2014, significant changes to the Privacy Act 1988 took effect that included the introduction of a more comprehensive credit reporting system, and the introduction of a set of Australian Privacy Principles, which set out the standards, rights and obligations in relation to the collecting, handling, holding, access and correction of personal information.
Caution: Withdrawing a benefit provided under your policies might breach your "no extra claims" clause.
In a decision handed down by the Fair Work Commission this week, a Victorian water authority was found to have contravened the "no extra claims" clause in its enterprise agreement by changing a vehicle policy which had provided some employees with limited private use of work vehicles.
Project DO IT
Voluntary disclosures relating to the Australian Tax Office’s (ATO) “Project DO IT” initiative must be made before 19 December 2014.
Read The Trust Deed: Pope’s Case - Unpaid Present Entitlement and Bad Debt Deductions
A recent case in the Administrative Appeals Tribunal (Pope v FC, known as Pope’s Case) is of interest to taxpayers and their advisers, with respect to the characterisation of unpaid trust entitlements (UPEs) as loans.
Schools, negligence, and liability for psychiatric injury: the Doulis case
The Victorian Supreme Court ordered the State of Victoria to pay damages in excess of $1.2 million to a former teacher at Werribee Secondary College, after he sued in negligence for the school’s failure to prevent what became a debilitating psychiatric injury
Enduring Powers of Attorney
When people talk about their estate plan the first thing that usually comes to mind is their will. Most of us are pretty good at making plans for what happens if we die but more often than not we fail to plan for the possibility of losing capacity.
Is your business name really protected?
One of our clients recently rebranded her business, and in the process changed its name. Her accountant had diligently registered a new business name for her. Unknowingly, she’d chosen a name similar to a competitor’s name – but it was different enough for ASIC to allow both registrations. Inevitably, the competitor threatened legal action.
The Battle For Superannuation without a will
The fiduciary duty owed by an administrator of an estate, and the need to leave a will, were graphically illustrated in a recent Queensland Supreme Court case (McIntosh v McIntosh (2014) QSC99).
The Building and Construction Industry Security of Payment Act - what you should know
In tough economic times, maintaining cash flow to your business can become more difficult. The Building and Construction Industry Security of Payment Act 2002 can assist suppliers, contractors and subcontractors in the building industry to get paid more quickly and avoid expensive disputes.