Blog News

9 May 2012

The National Business Names Register

The new National Business Names Register will commence on 28 May 2012 under the administration of the Australian Securities and Investment Commission (“ASIC”). Here is how it will affect your business: 1. A National System If your business name is currently registered in multiple States, it will now be registered nationally, and you will only need […]

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16 April 2012

What are the key things you need to know about redundancy?

I recently read the case of Hodgson v Amcor Ltd; Amcor Ltd & Ors v Barnes & Ors [2012] VSC 94 which addressed a number of key principles of redundancy. Hodgson had been employed by Amcor Ltd for 38 years and was made redundant by the company at age 61. His annual remuneration package was […]

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13 April 2012

Employee Profit Sharing Arrangements, Employee Share Schemes and Tax Consequences

Providing greater incentives to staff in a company may come with hidden consequences for both the company and the employee. As a company grows, staff may be offered incentives such as shares in a company as well as profit sharing. Payments of shares and profits may be made directly to an employee or into a […]

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5 April 2012

Shareholder and Partnership Agreements

I was recently asked to give advice to the client in relation to a partnership agreements that they had signed in their business. The agreement had been purchased online and my client had basically “filled in the blanks”. My client is now a 50% owner in the business but because of the terms of the […]

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2 April 2012

Trade Agreements

I often have clients contact me seeking advice in relation to a dispute that they are having with parties that they trade with in their business, such as suppliers and customers. The first question I ask is what the terms of their trade agreement are, and often I am told that there is nothing in […]

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23 March 2012

Warranties against Defects

I was recently asked to speak for the Australian Institute of Company Directors to provide a business legislation update for 2012, for the Sunshine Coast chapter. One of the topics that I discussed was the amendments to the Australian Consumer Law. From 1 January 2012 if you are in business and choose is to provide […]

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20 March 2012

Business Succession Planning

Business Succession Planning can be a difficult and long process, however the rewards of a properly documented Succession Plan far outweigh the time and effort spent in preparing the plan. Too often have I seen clients attend my office after an event such as death or retirement where a business is suffering. Often problems could […]

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28 February 2012

Notice Period for Terminating Employment

Ever wondered how much notice you are required to give when terminating employment? Other than looking to the employment contract itself, the first point of reference is always section 117 of the Fair Work Act 2009 (Cth). This section outlines the minimum notice periods which an employer is required to give an employee upon termination: […]

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24 February 2012

Why do employment relationships fail?

When drafting employment agreements, I often get asked how to avoid a breakdown in employment relationships between the employer and employee. I usually suggest that employment relationships fail for three reasons: 1.  The employee should never have been hired; 2.  There are no proper steps in place for resolving workplace issues; 3.  There is no […]

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30 January 2012

Asset Protection and Discretionary Trusts (Part Two)

In a recent blog I discussed some general comments about Discretionary Trusts and Asset Protection. In this blog I will speak more specifically about the limitations of Trusts in Asset Protection. Limitations on Asset Protection of Discretionary Trusts It is very important to understand some limitations that a trust has for asset protection strategies: Family […]

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