Are your contracts unfair? Don’t get caught out by the unfair terms legislation now applying to business to business contracts

Background The doctrine of freedom of contract is a fairly standard one in Australian law, as well as in most Western legal traditions. The doctrine recognises that individuals should have the freedom to strike whatever bargain they choose. However, as it turns, the situation between contracting parties in Australia is actually [...]

2018-09-24T10:11:35+10:00September 21st, 2018|Categories: Commercial, Litigation|Tags: , |

Assignment of lease of commercial premises: To consent or not to consent … That is the question, if you’re a landlord

A recent VCAT decision narrows the circumstances in which a landlord can withhold consent to an assignment of lease. This case, AVC Operations Pty Ltd v Teley Pty Ltd (Building and Property) [2018] VCAT 931, concerned a landlord’s decision to withhold consent to an assignment of lease under s 60 of [...]

2018-08-30T14:41:03+10:00August 29th, 2018|Categories: Property|Tags: , |

Federal Court decision highlights the urgent need for change to income tax residency rules for individuals

In the recent decision of the Federal Court in Harding v Commissioner of Taxation [2018] FCA 837, it was found that Mr Harding, an Australian citizen who lived and worked abroad for various periods, but focusing on March 2009 to February 2015, was a resident of Australia under the expanded [...]

2018-09-27T16:28:58+10:00August 17th, 2018|Categories: Taxation|Tags: , , |

6 Upcoming changes to Victoria’s medical decision-making laws

Background The Victorian Government has made significant changes to the legislation regulating Victoria’s medical decision-making laws, which are due to commence on 12 March 2018. These new laws can be found in the new Medical Treatment Planning and Decisions Act 2016 (Vic) (Act), which replaces the existing law around medical [...]

2018-08-23T15:18:26+10:00January 18th, 2018|Categories: Wills & Estates|Tags: , |

Taxpayers and advisers take note: it will soon be time to pay-out UPEs or convert them to Division 7A complying loans to avoid paying deemed dividends

Background In Practice Statement 2010/4, the Commissioner set out three safe harbour investment options that taxpayers could avail themselves of to ensure an Unpaid Present Entitlement (UPE) of a company from a trust, did not attract the application of Division 7A. These options involved having the UPE funds invested under [...]

2018-08-28T15:44:48+10:00September 25th, 2017|Categories: Taxation|Tags: , , |

Federal Government Amends Registration Requirements For PPS Leases: Minimum Duration Is Now 2 Years

The Federal Government has introduced changes to the Personal Property Securities Act (PPSA) with the enactment of the Personal Property Securities Amendment (PPS Leases) Act 2017. The amendments came into effect on 20 May 2017, and extend the minimum duration of the term of a lease or bailment before the [...]

2018-08-30T12:53:30+10:00June 21st, 2017|Categories: Commercial|Tags: , |

Separating Business And Personal Property, And The Application Of The CGT Roll-Overs

Business owners who undertake arrangements to separate their business and personal assets may be able to avail themselves of CGT roll-overs to disregard or defer the capital gains tax that would otherwise arise. Previously, CGT relief was available if the business owner transferred their business assets to a company. Under [...]

2018-08-30T12:57:35+10:00June 13th, 2017|Categories: Taxation|Tags: , |