Legal Insights
Conflict of Interest for Company Directors - The Information You Need to Know
As a director of a company, you have a duty to act in its best interests.
In undertaking your role as a director, you may face a situation where the interests of the company come in to conflict with your own personal interests.
What duties do you owe to the company in relation to conflicts of interests?
DOES YOUR BUSINESS NEED A PRIVACY POLICY IN PLACE?
To help you determine if your business legally requires a privacy policy under the Privacy Act, we have developed a simple flow chart for you to follow. If the answer is yes to any of the questions in the chart, a privacy policy should be prepared to ensure your business is not subject to penalties for non-compliance with the Privacy Act.
Giving back – Harwood Andrews graduate lawyers take time out to volunteer
There are many things young lawyers are told before starting their graduate year - get ready to work 60 hour weeks, never leave your desk, be a slave to the firm and that there is certainly no time for anything other than work.
Profit from the development and sale of a commercial property by a private family group found to be on capital account
The Administrative Appeals Tribunal (AAT) recently held in FLZY and Commissioner of Taxation that profit arising from the sale of a building by a family trust that was part of a privately held family group (Group) gave rise to a discount capital gain despite the wider property building, development and investment activities undertaken by the Group. The decision demonstrates the importance of considering a taxpayer’s purpose and intention when acquiring and developing real estate within the broader factual context of the activities undertaken by a taxpayer and any related entities.
Wine Equalisation Tax Rebate
In light of the 2016-2017 Federal Budget handed down on 3 May, participants in the wine industry have expressed significant concerns regarding the Federal Government’s proposal to reform the Wine Equalisation Tax Rebate (WET Rebate) and the related eligibility criteria.
Finalising a Property Settlement Agreement
Separating from your partner can be a painful and disruptive time. While many separated couples may want to distance themselves from each other, it is important to organise arrangements for your children (if you have them) and the division of your property.
Am I in a de facto relationship?
With the increase in unmarried couples living together and the decline in marriage as a means of formalising long term relationships, de facto law has become a hot topic. So are you in a de facto relationship or not?
Loose-Fill Asbestos Insulation
Register by 1 August 2016 for free testing.
As part of its Voluntary Purchase and Demolition Program, the NSW Government is currently offering free loose-fill asbestos testing to homeowners in 28 identified NSW local government areas (including Albury City Council and Greater Hume Shire Council).
Top 5 legal tips for starting a business
Starting a business needs more than just a great idea. It involves planning, getting your finances in order and of course ticking all the legal boxes. Navigating the legal landscape for a new business can be difficult, so we want to share with you the top five things you need to consider:
Co-ownership of real estate (property)
Owning property is a big deal. Owning property with another person(s) is an even bigger deal. It is quite common for people who are married or in long term relationships, friends, siblings, or parents and children to pool their savings together to purchase property.
Extension of time to rectify non-commercial LRBA loans – deadline now 31 January 2017
In our previous Time For Action article the deadline for ensuring existing non-commercial limited recourse borrowing arrangement (LRBA) loans were put on commercial terms was 30 June 2016.
Minimum wage to rise 2.4%
Yesterday the Fair Work Commission handed down its Annual Wage Review decision, accessible here.
Adley Burstyner and Harwood Andrews Fighting for Farmers with Milk Price Action
Adley Burstyner and Harwood Andrews have announced they are joining forces to work on a claim against milk processors for the current crisis facing Victorian dairy farmers.
EPA Inquiry report released
On 16 May 2016, the Victorian Government released the long-awaited report of the Independent Inquiry into the EPA (Report), the first comprehensive review of the State’s environmental regulator since its establishment in 1971.
Important information for apartment and unit owners
A quick guide to owners corporations
If you are an apartment or unit owner it is likely you are part of an owners corporation. As a member there are certain procedures that must be followed which you may not even be aware of. It is important that owners corporation members and committee members understand these procedures, their rights and responsibilities.
Harwood Andrews named one of Australia’s best Boutique Law Firms of 2015
Harwood Andrews is a finalist in the 2016 Australasian Law Awards. The firm is nominated for the Boutique Law Firm of the Year award and is one of only eight finalists in the highly acclaimed category.
'No goodwill' professional practices - The ATO’s administrative treatment of acquisitions and disposals of interests in such practices
The ATO has recently released guidelines on its administrative treatment for the application of certain tax issues when interests in ‘no goodwill’ professional partnerships, trusts and incorporated practices (practices) are acquired or disposed.
Introducing new Group Claim Law Firm Adley Burstyner
The Lantern Legal Group, comprising Harwood Andrews and Sladen Legal, is excited to expand its already broad services by launching its newest division, Adley Burstyner.
Time for action: safe harbour guidelines issued by the ATO for related party LRBA loans
On 6 April 2016, the ATO issued Practical Compliance Guidelines PCG 2016/5 Income tax - arm's length terms for Limited Recourse Borrowing Arrangements established by self managed superannuation funds (Guideline)
New Requirements for Sale or Lease of Property with a Swimming Pool or Spa in NSW
Sale
From 29 April 2016, a vendor selling a property in NSW with a swimming pool or spa pool must include one of the following in the Contract of Sale:
- A valid swimming pool certificate of compliance; or
- A valid occupation certificate issued under the Environmental Planning and Assessment Act 1979 (NSW) that is less than three years old and authorises the use of the swimming pool; or
- A valid swimming pool certificate of non-compliance.