Insights

Recent payroll tax decisions and policy developments in NSW, QLD, and VIC have put medical and allied health practices across the country at risk of incurring large payroll tax liabilities. This Insight provides you with critical information on how your business could be affected. Different business structures Practices using service entities to provide administrative and […]

From 1 November 2021, all directors of Australian registered bodies corporate are required to apply for a director identification number (DIN). The DIN regime, administered by the Australian Business Registry Services (ABRS) and managed by the Australian Taxation Office, has been introduced in order to prevent illegal phoenix activity, track directors’ involvement across different companies […]

On 12 July 2021, the Australian Competition & Consumer Commission (ACCC) instituted proceedings in the Federal Court of Australia against SmileDirectClub Aus Pty Ltd and its US parent company, SmileDirectClub LLC (SmileDirectClub), alleging they had breached the Australian Consumer Law (ACL). The ACCC claims that between May 2019 and October 2020, SmileDirectClub breached section 18 […]

Combatting modern slavery is a mainstream corporate responsibility, with certain financial services entities like banks, insurers, and superannuation funds being required to report on their efforts under the Modern Slavery Act 2018 (Cth) (Act). To assist such entities, the Australian Human Rights Commission and KPMG Australia have released a good practice guide on how best […]

A shareholders’ agreement is a contract between a company’s shareholders (sometimes the company itself is also a party), setting out the rights and obligations of the shareholders in relation to the affairs of the company and how it is to be managed. If the company is the trustee of a unit trust the agreement relates […]

In recent times the use of electronic signatures has become common place. The use of electronic signatures during the COVID-19 pandemic has often been a necessity. On 5 May 2020, the Treasurer made the Corporations (Coronavirus Economic Response) Determination (No. 1) 2020 which provided that documents could be executed on behalf of a company under section 127 […]

New laws came into effect on 18 February 2021, under the Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 which provide that a company director will not be able to back date his or her resignation more than 28 days. A director will also not be able to resign as a director of a company […]

Many pharmacists go into business with trusted friends or colleagues, and with a strong common vision for their business. In many cases, the pharmacy will run smoothly and the owners will simply agree on the many decisions that need to be made in the day to day running of the business. Despite this, we always […]

The Australian Charities and Not-for-profits Commission (ACNC) Governance Standards require registered charities to remain charitable, operate lawfully, and be run in an accountable and responsible way. For registered charities, complying with the Governance Standards not only ensures charity registration with the ACNC, but also continued Commonwealth charity tax concessions. In recent months, two major changes […]

Small to medium businesses can now restructure their way out of financial distress without having to ‘throw the baby out with the bathwater’. On 1 January 2021 the Corporations Amendment (Corporation Insolvency Reforms) Act 2020 (Cth) was passed, resulting in Australia’s most major insolvency law reform of the past 30 years. Restructuring Process The main […]