Blog News

17 November 2011

Capital Gains Tax and Life Insurance Policies in Business Wills

I was recently asked to give a presentation for Business and Estate Planning Specialists. This company specialises in selling risk insurance for businesses and individuals. They had asked that I explain to their team the taxation implications for various forms of life insurance policies. One issue that was discussed is why it is so important to […]

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17 October 2011

New Work Health and Safety Laws

Are you ready for the new Work Health and Safety laws? If not, now is time to make sure you are ready, because on the 1 January 2012, the new harmonised national Work Health and Safety laws will commence. The Queensland Act will be known as the Work Health and Safety Act 2011 (WHS Act […]

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5 October 2011

Working Safely From Home

I recently read an interesting article in the Financial Review on the hidden costs of working from home. The article by Fiona Carruthers detailed the problems which Telstra faced just recently when it was found liable for physical and psychological injuries sustained by one of its employees who were working from home. Telstra may now […]

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27 September 2011

Insolvent Trading and Directors Personal Liability for it

I have had many clients in this current economic climate approach me, who are concerned about whether their company is trading insolvent, and their personal liability that may arise from this. What is Insolvent Trading? Broadly speaking, insolvent trading occurs when a company cannot pay its debts as and when they fall due. Directors of […]

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19 September 2011

Key Personal Capital Insurance and Capital Gains Tax

I recently was invited to speak at the Business and Estate Planning Specialists annual conference in Cairns. One issue raised, was whether there was any way to limit exposure to Capital Gains Tax for the reduction of debt in a business, from the payment of Key Person Capital, or Debt Reduction, Insurance. This is a very […]

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19 September 2011

What is a Business Will? Here is the answer!

I recently met with a client and their Accountant to discuss some business succession issues. One of the questions I asked was what happens to the business if one of the owners dies. This led to other questions like: Does the deceased spouse go into partnership with the other owners? How is the deceased paid […]

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13 September 2011

Work Health and Safety – Company Directors Getting Ready for the New Laws

Australia has 10 different laws relating to Occupational Health and Safety. This will change on 1 January 2012 with the introduction of the Work Health and Safety Act. The Federal Government has established Safe Work Australia to implement the new laws. The Australian Institute of Company Directors, in the August 2011 edition of their magazine “Company Director” […]

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5 September 2011

The Personal Property Securities Act – important changes for businesses supplying goods on credit

Businesses and individuals that provide finance secured by personal property, or who supply goods on a retention of title (ROT) basis, should be aware of the introduction of the Personal Property Securities Act. The new legislation will require that, where businesses are supplying goods on credit, their interest should be registered on the new Personal […]

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21 August 2011

Corporate Governance and Directors Duties

I recently met with a client who was the sole director of a company turning over in excess of $10 million dollars. There were 9 shareholders in total, with my client being a majority shareholder. I was concerned about the general lack corporate governance and reporting to the shareholders, as they only had 1 meeting […]

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15 August 2011

Related Party Transactions

I had a meeting with a client last week that highlighted to me the importance of understanding your obligations when dealing with related parties of your company. This client was experiencing some significant financial difficulty and thought that the assets the client wished to protect from the company at risk of going into liquidation, were […]

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