New Era Lawyers advises on $50 million capital raising
New Era Lawyers have advised Investors Central on its recent $50 million capital raising subsequent to their successful $30 million capital raising in 2016. Investors Central is an Australian-owned, unlisted public company that raises capital to invest in secured consumer and commercial loans. Since 2010, Investors Central has achieved steady growth in both revenue and […]
Fixing Fineprint – How good are your business’ standard terms?
Fixing Fineprint – How good are your business’ standard terms? Most businesses will have some kind of contract that they provide to their customers which sets out the terms that apply to the supply of goods or services. Particularly with small businesses, these contracts often contain standard terms that neither party really reads or cares […]
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, […]
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 […]