Accountants liable for clients’ fair work breaches

Fair Work Ombudsman v Blue Impression Pty Ltd & Ors [2017] FCCA 810 decided that accountants may be liable as accessories in their clients’ contraventions of the Fair Work Act 2009. In this case, Ezy Accounting 123 was found to have failed to ensure that its client, Blue Impression, was using MYOB payroll software that … Read more

Appointing an Attorney or Guardian: What happens when it goes badly?

When most people think of estate planning, they think about making a will and stop there. While an up to date will is important, it is only part of an estate plan. It ignores what can happen if someone loses capacity during their lifetime and they are not about to make decisions for themselves during … Read more

Employee Entitlements on a sale of business

Everyone knows that employee entitlements need to be managed when there is a sale of business, however not everyone knows how they should be managed, and in particular how they can be managed favourably in the case of a new employer. We’ve created a guide to employee entitlements which addresses these issues and explains the … Read more

Heads of Agreement in a sale of business?

To have a heads of agreement or not to have a heads of agreement? That is the question. The answer is a resounding “yes”. A recent Sydney Business Lawyers involvement in a sales transaction reminded us of the importance of a detailed non binding heads of agreement or terms sheet. Clearly identifying the hip pocket … Read more

Reversionary Pensions: Are the recent changes good reason for another look?

The introduction of the new rules limiting to $1.6m the amount of superannuation that a member is entitled to claim as being tax free as exempt from current pension income means that reversionary pensions may again become relevant for the estate planning tool box. Click here to read more. Written by Damian Scroope Director

Superannuation Death Benefits – Our post 30 June 2017 guide

The laws applicable to superannuation funds changed on 1 July 2017. We write to set out what hasn’t changed as well as what has, and how to manage it when it comes to death benefits. To see our guide to the 1 July 2017 changes, please click here. You may also like to read our … Read more

Unpaid Present Entitlements: ATO gives 7 year extension for repayment

Previously, unpaid present entitlements (UPEs) managed under Option 1 of PSLA 2010/14 have been required to be repaid within 7 years of setting up the “loan”. The ATO’s new guidelines grant a further 7 year extension (see paragraph 14 in PCF 2017/13). If the unpaid present entitlements due for repayment by 30 June 2017 or … Read more