New penalties for SMSF’s

By on 29 September 2014 in Corporate Governance with 0 Comments
New penalties for SMSF’s

The ATO now has more power to deal with trustees in self-managed superannuation funds (SMSF’s) who are breaching the Superannuation Industry (Supervision) Act 1993 (Cth) (SIS Act). The ATO’s extended powers to deal with breaches in SMSF’s came into force on 1 July 2014. What were the penalties that the ATO could impose before 1 […]

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Increased disclosure obligations for liquidators under the ARITA Code

By on 19 September 2014 in Bankruptcy & Insolvency with 0 Comments
Increased disclosure obligations for liquidators under the ARITA Code

Changes to the Privacy Act and the decision in the Federal Court of Australia case of Australian Securities and Investments Commission v Franklin (liquidator), in the matter of Walton Constructions Pty Ltd [2014] FCAFC 85 (‘Walton appeal decision’) prompted the addition of section 6.6.1 to the Australian Restructuring Insolvency and Turnaround Association (ARITA) Code of […]

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High Court finds that there is no implied term of mutual trust and confidence

By on 17 September 2014 in Employment Law with 0 Comments
High Court finds that there is no implied term of mutual trust and confidence

This week, the High Court held that there is no common law term of mutual trust and confidence implied into Australian employment contracts. In Commonwealth Bank v Barker, the five members of the High Court found that it was wrong to conclude that the implied term of mutual trust and confidence had become part of […]

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ASIC’s Disqualification of Director Power Upheld

By on 11 September 2014 in Corporate Governance with 0 Comments
ASIC’s Disqualification of Director Power Upheld

The Australian Securities and Investment Commission’s (ASIC) power to disqualify directors is not a power to be overlooked. What is ASIC’s disqualification power? Under section 206F of the Corporations Act 2001 (Cth), ASIC has the power to disqualify a person from managing a corporation for up to 5 years where that person has acted as […]

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The price of sexual harassment

By on 27 August 2014 in Employment Law with 0 Comments
The price of sexual harassment

If anyone has been ignoring sexual harassment in the workplace, the case of Vergara v Ewin (FCAFC) should cause everyone to start taking the issue seriously. It’s no longer just about unwanted behaviour around the office that employers need to be worried about. What staff get up to outside office hours should be of equal […]

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Are trust assets safe if a corporate trustee is liquidated?

By on 12 August 2014 in Bankruptcy & Insolvency with 2 Comments
Are trust assets safe if a corporate trustee is liquidated?

The answer is no. In the recent Federal Court of Australia decision of Kitay, in the matter of South West Kitchens (WA) Pty Ltd [2014] FCA 670 (“the decision of Kitay”) the Federal Court held that a liquidator of a corporate trustee could sell the trust assets without first obtaining a court order. In the […]

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Things to look out for now that the carbon tax has been repealed

By on 18 July 2014 in Small Business with 0 Comments
Things to look out for now that the carbon tax has been repealed

On 17 July 2014, the Parliament passed the Clean Energy Legislation (Carbon Tax Repeal) Bill 2014. Not only will this new legislation repeal the carbon tax instated by the previous government, but it will also provide the Australian Competition and Consumer Commission (ACCC) with new enforcement powers. What are the new powers of the ACCC? […]

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Fair Work Commission Cuts Penalty Rates in the Restaurant Industry

By on 16 July 2014 in Employment Law with 0 Comments
Fair Work Commission Cuts Penalty Rates in the Restaurant Industry

Lately, there has been much debate around the issue of penalty rates on Sundays and public holidays, particularly over the Easter holiday season, when many business owners indicated that engaging a casual employee to work over the long weekend would cost them up to $45.00 per hour. Exorbitant public holiday penalty rates seem to be […]

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Update on the Stop Workplace Bullying Laws

By on 19 June 2014 in Employment Law with 0 Comments
Update on the Stop Workplace Bullying Laws

The new bullying laws have now well and truly come into effect and the Fair Work Commission has been exercising its powers to stop workplace bullying. The first Fair Work Commission conference made the new laws. The facts of the dispute which resulted in the first conference lead by the Fair Work Commission, including the […]

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