Just How Important Are Dispute Resolution Clauses?
The recent Queensland Supreme Court decision in Santos Limited v Fluor Australia Pty Ltd[2016] QSC 129 demonstrates how parties to a commercial agreement have an obligation to follow dispute resolutions clauses, no matter how futile they may first seem. The Facts Santos Limited (Santos) and Fluor Australia Pty Ltd (Fluor) entered into a project which […]
ASIC Uncovers ‘Misleading And Deceptive’ IPOs
On 14 July 2016, ASIC released its report into due diligence practices in initial public offerings (IPOs). The report has exposed a number of key problems, particularly in the prospectuses of some small and mid-size issuers of IPOs, and provides guidance on good due diligence practices for those planning to raise capital in the […]
Payroll tax alert – medical professions
Following the recent tribunal ruling in New South Wales of Thomas and Naaz Pty Ltd v Chief Commissioner of State Revenue, State Revenue Authorities across Australia have indicated that they intend on increasing investigations into payroll tax non-compliance by General Practitioners (GP). Whilst Revenue Authorities may be targeting GP clinics, these laws also apply to […]
Unfair contract terms
The Federal Treasurer Dr Jim Chalmers presented his first federal budget on Tuesday 25th October 2022. We outline some key points below:
Superannuation
Eligibility for downsizer contributions to superannuation will expand to those aged 55+ years (reduced from 60 years). This will allow more people to make an additional non-concessional contribution of up to $300,000 per contributor from proceeds of selling their main residence (on top of the existing contribution caps). Other eligibility criteria will apply
Proposed measures relating to self-managed super fund (SMSF) residency changes (delayed) and SMSF audits (won’t proceed)
Statutory Demands
Does a company owe you money? If a company owes you money, you can recover your debt by issuing the company with a creditor’s statutory demand. To be eligible to issue a statutory demand, the debt must be equal to or greater than $4,000. You cannot serve an individual with a creditor’s statutory demand. Additionally, […]
New Era Lawyers assists Naturo in raising $5 million
New Era Lawyers assisted Naturo Pty Ltd in successfully raising $5 million in July 2019. Naturo is an Australian-owned, food innovation company that focuses on developing ‘world-first’ technology to expand the shelf life of food without the use of chemicals and additives. This capital raising will assist the company to build a pilot factory in […]
Incentive for innovation and risk-taking – the ESIC tax incentives
The Federal Government recently implemented attractive tax incentives for investors in qualifying early stage innovation companies (ESIC). The tax incentives provide eligible investors with: A 20% non-refundable carry-forward tax offset on amounts invested in qualifying ESICs. The offset is capped at $200,000 for each income year; and A 10 year exemption on capital gains tax […]
Want American Netflix? The Government Is On Your Side.
‘Watch Game of Thrones Free – We’re sorry, this video is not available in your region.’ Geoblocking, a technological process frequently used by foreign online streaming services such as US Netflix or HBO to prevent people overseas from accessing their content. Whilst there are a number of ways to get around geoblocks, such as using […]
Employee Equity Schemes
Employee equity schemes are a fantastic way to align employees’ interests with the financial performance of a business and incentivise high performance levels. Employee share schemes come in a variety of forms including employee share schemes (ESS) which allow employees to purchase shares, or employee share option plans (ESOP), which involve employees being given the […]
Top 6 Mistakes Made By Start Ups
Starting up a new business can be difficult. There are lots of traps for new comers. We have compiled a list of the most common mistakes we see being made by start-up businesses. 1. Business plan You should not start your business until you have a written business plan which includes detailed cash flow forecasts. […]