Legal Insights
Transfer of real property between SMSFs fails to trigger duty
The New South Wales Civil and Administrative Tribunal (NCAT) recently considered whether a duty concession was applicable to the transfer of property related to a person changing superannuation fund – including self managed superannuation fund (SMSF) in Nifuno Pty Ltd atf Stephen Forbes Pension Fund v Chief Commissioner of State Revenue [2019] NSWCATOD 3 (Forbes).
Untangling the crypto regulatory framework
The closing date of the Australian Government’s consultation process regarding the making of an initial coin offering (ICO) provides us with an opportunity to take a breath and review the current regulatory state of the crypto world, in preparation for the regulations that may be on the horizon.
Review of Trustee's discretion: Marsella’s case gives some guidance
It is a longstanding general principle that where a trustee discloses reasons for the exercise of a discretion, the validity of the trustee’s reasons will be examined and reviewed.
Tougher Super Guarantee Laws
Following the passing of Treasury Laws Amendment (2018 Measures No. 4) Bill 2018, the ATO now has the below increased powers to enforce the super guarantee laws.
Undocumented variations and repudiation: Domestic Building Contracts
Building construction is a time-consuming and costly process that can be difficult to manage for all parties. Very often, changes to the scope of the works being undertaken are requested or necessitated by circumstance, resulting in each party’s rights being uncertain at best when those variations are not properly documented in accordance with the Domestic Building Contracts Act 1995 (Vic) (Act).
“Fat-shaming” a valid reason for dismissal
Ms Bastoni was employed by ORC International Pty Ltd as a casual market research interviewer for more than 8 years before her employment was terminated after an incident on 26 May 2018 in which she referred to her supervisor as having “extra padding”.
Payroll tax cuts in regional Victoria
New data has shown how businesses across regional Victoria have taken advantage of the Victorian Government’s regional payroll tax cuts. The number show businesses have saved more than $31 million in the first financial year it was introduced.
Accountants: Be careful with your SMSF services
The activities that accountants without an AFSL provide to self-managed super funds (SMSFs) have been clarified by a recent Australian Securities and Investment Commission (ASIC) guidance note.
Further clarity on Payroll Tax for Contractors
As payroll tax provisions come under increased scrutiny by Revenue Offices, another case has provided clarity on how they should be interpreted.
Regional growth - private company access to equity crowd funding
The long awaited extension of the Corporations Act Crowd-sourced Equity Funding (CSF) regime to private companies is now in place.
Are your casual employees really casual?
In a controversial decision with potentially wide-reaching consequences, the Full Court of the Federal Court has upheld an earlier ruling that a labour hire employee who worked as a “casual” truck driver at Queensland coal mines on a regular basis over several years was not actually a casual employee for the purposes of the National Employment Standards, and was entitled to paid annual leave when his employment ended.
When can a landlord of retail premises withhold consent to an assignment of lease?
In a recent VCAT decision of AVC Operations Pty Ltd v Teley Pty Ltd (2018) VCAT 931 it was held that the landlord of a lease governed by the Retail Leases Act (Act) was not entitled to withhold consent to an assignment of a lease of a hotel business on the basis that the incoming tenant (assignee) did not have sufficient financial resources or business experience to meet the lease obligations.
New long service leave portability benefits for workers in community services, security and contract cleaning industries
The Victorian Parliament has passed new legislation providing portable long service leave benefits for workers in community services, security and contract cleaning industries.
Husqvarna in breach of the Franchising Code of Conduct
Husqvarna Australia (Husqvarna), a subsidiary of the Swedish Husqvarna Group, has recently signed an enforceable undertaking to the Australian Competition and Consumer Commission (ACCC) in relation to breaches of the Franchising Code of Conduct (Franchising Code), the Competition and Consumer Act (CCA) and the Australian Consumer Law (ACL).
Impending Changes to Long Service Leave in Victoria
On 15 May 2018 the Long Service Leave Act 2018 (Vic) (the Act) received Royal Assent with an effective date of 1 November 2018. The Act repeals and replaces the Long Service Leave Act 1992 (Vic), provides increased benefits for various classes of employees, including in particular parents and carers, and will apply to all employees in Victoria unless explicitly excluded.
Accounting firm found liable by Federal Court for client’s underpayment of employees
The Full Federal Court handed down a significant decision on 20 August 2018, finding that accessorial liability extends to advisors involved in underpayments. The matter of Ezy Accounting 123 Pty Ltd v Fair Work Ombudsman [2018] FCAFC 134 involved an appeal by Ezy Accounting (Ezy) against penalties imposed by the Federal Circuit Court for failure to advise their client of contraventions of the Fair Work Act (Act).
Just sign here.... FWC warns against using false CFMMEU templates in enterprise agreement approval process.
Two Fair Work Commission in the last five weeks warn of the serious consequences of signing a false statutory declaration when applying for approval of an enterprise agreement.
Unpaid Family And Domestic Violence Leave
In a decision handed down by the Fair Work Commission on 6 July 2018, the content of the model term providing an entitlement for unpaid family and domestic violence leave was finalised. According to the decision, the model term will be inserted into modern awards with industry and occupational coverage as part of the 4 yearly review of modern awards and will be effective from 1 August 2018.
Does the world stop spinning for the World Cup?
Last month, France claimed its second World Cup since its inception by defeating the fairytale story of the tournament, Croatia, 4-2 in an action-packed final. The match was filled with drama, with an own-goal, pitch invaders and heavy rain, but the outstanding display of sporting brilliance shone through.
Cryptocurrencies – keep your records
In light of the ATO’s current position that income from cryptocurrency sales will generally be taxed under capital gains tax (CGT) provisions and increased scrutiny on cryptocurrency transactions, taxpayers should ensure they keep accurate records of cryptocurrency transactions.