As set out in our previous article, the deadline for ensuring non-commercial related party limited recourse borrowing arrangement (LRBA) loans are rectified to reflect commercial terms is 31 January 2017. This date is fast approaching and SMSF trustees must take immediate action to ensure compliance with the ATO’s guidelines set out in PCG 2016/5. 

As has become tradition, particularly in the United States, sports leagues and clubs have been busy unveiling their 2016 Christmas Day uniforms ahead of the festive season. 

The Turnbull Government has introduced a Bill to facilitate the use of crowd-sourced equity funding by Australian small businesses and start-ups.

Whilst the A-League, NBL and WNBL are in the early stages of their new seasons, the AFL and NRL have wound down for the next 5 months. This means that the players, who have slogged away during the winter months in the chase for a premiership, are enjoying holidays and resting their bodies before the commencement of another arduous pre-season.

From 12 November 2016, small businesses will receive important protection from unfair terms in standard form consumer contracts.

Harwood Andrews have added another Law Institute of Victoria Specialist to an already impressive line-up of legal professionals. 

The Government has released the second round of draft rules for the implementation of the superannuation reform package announced in the 2016-2017 budget, which includes draft legislation for the 5 year concessional contributions catch-up measure.

The Government has released the second round of  draft rules for the implementation of the superannuation reform package announced in the 2016-2017 budget. This tranche includes the draft legislation for the proposed $1.6 million super pension cap, which essentially limits the amount that a member can hold in a pension account to $1.6 million from 1 July 2017.

The Government has released its second tranche of draft legislation to implement the proposed superannuation budget measures. 

It’s FOOTY FINALS TIME!  With the two Sydney teams, Sydney Swans and GWS Giants, doing battle with Geelong and the Western Bulldogs respectively in this weekend’s preliminary finals, fans will be flocking to both the MCG and Spotless Stadium tonight and tomorrow for the big games

The announcement of the $500,000 lifetime non-concessional contributions cap in the 2016-2017 budget was not only controversial, especially given what was widely perceived as its retrospective operation, but raised many questions as to how it would be applied. The Government has announced that the proposed lifetime cap will not proceed but will be replaced by a new measure.

Sporting clubs and incorporated associations need to make sure that paid workers and volunteers who engage in “child-related” work have a valid Working with Children Check. 

Harwood Andrews has once again been recognised as a leader in the Australian legal industry through their recent nomination as a finalist in the 2016 Lawyers Weekly Australian Law Awards.

Rio 2016 began with a typically extravagant opening ceremony on Saturday morning AEST. Unfortunately however, according to the Sydney Morning Herald, Channel Seven's 9.00am broadcast of the event averaged only 2.25 million regional & metropolitan viewers, the lowest rating opening ceremony since 2001 when the OzTam rating system began.

One of the many ways in which the government is encouraging innovation is through a series of Research and Development tax incentives, in particular the R & D Tax Incentive Program. 

A sporting club may handle a considerable amount of money in a single financial year. Whether it be membership revenue, ground maintenance costs or even the weekly sausage sizzle intake – everything adds up!

On 15 June 2016, the AFL made the historic announcement that eight clubs would compete in the inaugural season of the women’s national league in 2017. During February and March next year, Adelaide, Brisbane, Carlton, Collingwood, Fremantle, Greater Western Sydney, Melbourne and the Western Bulldogs will participate in six home-and-away rounds, with the top four playing two semi-finals and a Grand Final. 

Incorporated sporting clubs and associations have distinct obligations to fulfil as a legal entity. Committee members, directors, coaches and volunteers each have a role to play in the team and it is vital that all involved understand the different policies that are applicable to the club and its members. Here are just two policy considerations for ensuring “good play” in your local sporting organisation.

Yes, the team with the best single-season record in NBA history just got better…Kevin Durant, the 2014 Most Valuable Player, 7-time NBA All Star, 5-time All-NBA First Team member and 4-time scoring champion, has agreed to sign with the Golden State Warriors.