The Benefits of Establishing a Discretionary Trust
A discretionary trust can be a versatile and powerful tool as it offers individuals and businesses a range of benefits. As a legal structure, it allows for the strategic management and distribution of assets and provides level of flexibility that can prove...
What business structure is right for you?
In Australia, entrepreneurs have a range of options available to them when looking to start and structure their business ventures. Each different has its own advantages and disadvantages or considerations but allows for flexibility when it comes to a business’ goals....
What is a Shareholders Agreement or Partnership Agreement?
If you are starting a new business venture in partnership with someone else, it is highly advisable to put in place a Shareholders/Partnership Agreement. We regularly receive enquiries from people who have not done so, and when a dispute breaks out it can be a messy...
What is a Buy/Sell Agreement?
A Buy/Sell Agreement is a valuable piece of your business succession plan. For those who run a business with co-owners, you should always consider a Buy/Sell Agreement as it puts measures in place to enable continuing owners to acquire the share of an exiting owner....
Director Identification Numbers – a reminder for all directors
As previously discussed in our article Director Identification Numbers – What Do You Need To Know?, all company directors must obtain a Director Identification Number (DIN). A DIN is a unique identifier allocated to all directors of companies and other Australian...
Business Expansion As A Sole Trader: Legal Factors To Consider
Starting your own business is one of the most satisfying things that you can do, and seeing it flourish and grow is an incredibly fulfilling experience. Some people kick off their business as a sole trader because they don’t know how successful it will be. But if you...
Legal Essentials for Setting Up a Business in Australia
Whether you are looking to establish a new business enterprise in Australia or expand an existing business, there are many things to consider. In addition to thinking about your sources of capital, reaching agreement with suppliers, trading terms with customers,...
Understanding Company Director Liabilities When Things Go Wrong
Becoming a company director comes with many benefits – power, connections, and good compensation befitting the role. However, the position comes with responsibilities, and when things go wrong, a company director can be personally liable for the company’s debts, and...
Director Identification Numbers – What Do You Need To Know?
On 5 October 2021, new legislation was introduced by the federal government, partly as a way of identifying directors engaging in unlawful activity such as illegal ‘phoenixing’ and tracking directors who act across multiple companies What is a Director Identification...
The Various Ways Construction Lawyers Can Help You
Understanding the legislation and the impact of contract terms on construction projects and building works is a complex process. It is an area that requires the perfect marriage of good legal skills and a thorough understanding of the imperatives and typical pain...
Resolving Director & Shareholder Disputes In Small Companies
One of the most complex issues to deal with in a small company is a dispute between directors and shareholders. The fallout has the potential to be devastating to a small company – both in terms of time wasted in dealing with broken-down relationships, and the costs...
Commercial Tenancy Relief Victorian measures
The Victorian Government has introduced a new round of rent and other relief for some eligible commercial and retail tenants, as well as some support for complying landlords. This scheme is the next chapter in the ongoing Federal and State Government support...
What Happens When Partners In A Business Don’t Get Along?
Just like friends and family members, business owners don’t always agree on everything. Most of the time we can have a discussion and map a logical way through the confusion, but sometimes one of the parties to the conversation (or perhaps it’s because they aren’t...
Buying Or Selling A Business – Important Considerations With Respect To The Lease
Whether you are the vendor or purchaser of a business, often the business will operate from a leased premises. The contract will inevitably provide that the sale of the business is conditional on the lease being taken over by (or a new lease granted to) the buyer. As...
Commercial Tenancy Relief Scheme
The Victorian Government intends to introduce a new round of rent relief for some commercial tenants, as well as some support for complying landlords. This scheme is another chapter in the continuing Government support structures which commenced with the original...
The Pandemic Effect On Leases – A Lesson From The US
A recent case in the US dealt with matters which are currently hot topics in Australia – namely the rights of tenants who are suffering under the COVID-19 pandemic. Valentino U.S.A., Inc. v. 693 Fifth Owner LLC - Background Italian fashion brand Valentino and its...
The Modern Slavery Act 2018 (Cth) requires entities based, or operating, in Australia, which have an annual consolidated revenue of more than $100 million, to submit annually a Modern Slavery Statement on the risks of modern slavery in their operations and supply...
Changes to Victorian Retail Leasing
Retail leasing is quite strictly regulated with statutory procedures, which are mostly for the tenant’s protection. New legislation is now in place which makes a number of key changes to the retail leasing framework in Victoria. Unsurprisingly, most of these changes...
Unfair Contract Terms
On 9 November 2020, the Federal Government announced changes to increase protections offered against unfair contract terms, making them illegal and punishable by civil penalties. When Do the Protections Operate? The legislation (known as the Australian Consumer Law)...
Company Name or Business Name – What’s the Difference?
If you intend to start your own business, there are many things that you need consider such as permits, staffing, strategy, suppliers. One of the first things to decide should be what structure is most appropriate for your business. There are a variety of options...
Mandatory Code of Conduct for Landlords and Tenants
The Federal Government has created a code of conduct which is mandatory for landlords and tenants from 3 April 2020, intended to “aid the management of cashflow” for tenants and landlords as a result of the impact of the COVID-19 pandemic and to ensure business...