Newsletters

Many people start a business from scratch but sometimes it is easier if you purchase a business as a going concern. But it is important that you do have some general business experience and preferably some experience in the industry that the business relates. Obviously when buying a business you will be selecting an appropriate type of business that you wish to purchase and you should work out the limits of your budget. If you need to borrow to finance the purchase then you should make appropriate approaches to lending institutions to see what terms they will require including interest rates and what equity they require [...]

As of 1 December 2017, the Motor Accident Injuries Act 2017 (MAI Act) is in force in New South Wales, replacing the former Motor Accident Compensation Act 1999. Below is a snapshot of the features and changes to the law under the new MAI Act, which you should be aware of if you are injured in Motor Vehicle Accident and you make a Compulsory Third Party (CTP) Insurance claim. The new MAI Act introduces a no-fault statutory compensation scheme covering medical treatment expenses and lost wages for a period of up to 6 months, followed by further fault-based statutory benefits scheme and modified fault-based damages. This [...]

What You Should do up to Exchange of Contracts. Finance for Purchase When you are out looking to purchase a home,  before you actually start inspecting properties and putting offers in, it is most important that you work out your finances and what you can afford. You should seek a pre-approval of a loan from the Bank if you need to borrow. Subsequently, prior to exchange of contracts or before bidding at an auction, you should get unconditional approval of your loan.   Exchanging Contracts with a Cooling off Period When discussing the purchase of the property with the real estate agent you may be anxious [...]

A recent decision of the Federal Circuit Court has confirmed that accountants can now be held liable for the underpayment of their client’s employees. This follows other recent decisions in which an HR advisor and a payroll manager have been found personally liable for similar underpayments. Businesses that play an advisory role in employment matters should take extra care to ensure they provide appropriate advice to their clients. The Fair Work Ombudsman has demonstrated that businesses who turn a blind eye to underpayments and other non-compliance by their clients are placing themselves at risk. The Decision After investigating allegations that two fast food employees were being [...]

Many of my clients ask me about contesting wills. Some of my clients wish to leave a family member out of a will. Others have been left out. Here is a brief rundown on the current state of play. Who can claim? Children and spouses can make a claim. De facto spouses, including de facto spouses who have not been in a relationship for more than two years can make a claim. Former, yes former wives or husbands can make a claim. People who have been dependent upon you can make a claim. Parents, siblings and grandchildren cannot claim, unless they have been dependent. Are there [...]

The Turnbull Government has recently introduced the Fair Work Amendment (Protecting Vulnerable Workers) Bill 2017 (Bill) into Parliament following widespread media coverage of exploitation of vulnerable workers. The Bill seeks to: increase penalties for ‘serious contraventions’ of certain provisions of the Fair Work Act 2009 (Act); hold franchisors/holding companies responsible for certain contraventions of the Act committed by their franchisees/subsidiaries; and increase the powers of the Fair Work Ombudsman. […]