Legal
Partnership Agreements: What you need to know
A partnership agreement formalises the business relationship between two partners. It can cover everything from low-level processes, up to how dispute resolution will take place in the business. Business partners are personally liable for the business in a partnership, therefore, determining the finer details is extremely important and can prevent complications down the line. The […]
Breach of employment contracts
Employment contracts contain terms and conditions which both the employee and employer agree upon. Ideally, this contract should be written rather than confirmed verbally to avoid miscommunications or misunderstandings. Contracts may also contain implied terms i.e. not misusing confidential information. Employment contracts are also governed by legislation that provides further information about the minimum terms […]
What to look out for in an employment contract
Reading any contract before you sign it is essential, but there are some things you should keep a special eye out for when signing an employment contract. Award Coverage You should always check that the salary you have agreed upon with your employer is on par with the award rates and no less. Double check […]
What is the criteria for a complying loan agreement?
Private companies may be incentivised to make loans to a shareholder or their associate during the income year in an effort to save on income tax. In order to remedy any inequities as a result of making shareholder loan agreements, the Government enforces compliance through a set number of rules. Loans which follow such rules […]
Modified provisions for virtual business meetings you need to be aware of
Businesses moving towards online operations (temporarily or permanently) need to be aware of the Government’s modified provisions concerning virtual meetings and the electronic signing of company documents. These modified provisions in the Corporations Act 2001 (Cth) became active on 5 May 2020 and will automatically be repealed on 5 September 2020. Company meetings The new […]
What to look out for when entering a supply contract
When entering a supply contract, it is extremely important to work out all the nuisances before signing to prevent complications down the road and make sure conditions are favourable for you. Here are a few key pointers to look out for in your supply contract. Warranties Warranties are promises within contracts to both parties that […]
Mandatory code of conduct for commercial tenants and landlords
The Government has introduced a mandatory code of conduct to help commercial tenants with rent relief during the COVID-19 pandemic. Under the code of conduct for commercial tenancies: Landlords must not terminate leases for non-payment of rent during the COVID-19 pandemic and recovery period. Tenants must stay committed to their lease terms. Landlords must offer […]
Dealing with customer breaches of contract
When two parties enter into a contract, they must follow the agreed terms and conditions outlined. If one party does not fulfil the obligations they agreed to, then a breach of contract has occurred. Businesses often enter many contracts with their clients, and figuring out what to do next can be difficult and stressful. The […]
Employer jury duty responsibilities
When an employee gets summoned for jury duty, it can put added stress on the workplace with other staff having to take on extra work. As an employer, you’ll likely want to avoid the inconvenience of releasing an employee for jury duty, however, this may prove to be difficult. Employers must comply with the legal […]
Proposed law to restrict cash payments
New restrictions on cash transactions may be coming into effect after the government released the draft Currency (Restrictions of the Use of Cash) Bill 2019, which proposed to make it an offence to make or accept cash payments of $10,000 or more. The bill proposes that people using cash above the $10,000 limit could face […]