Legal News
Contesting a Will
The passing of a loved one is a particularly emotional and devastating time. This can be made all the more horrific if there is any kind of dispute against the Will of the deceased. Disputes often arise when parties that are associated with the deceased person disagree with the intentions as contained in the Will. In NSW, you have to meet certain criteria in order to be eligible to contest a Will. If the Will excludes or does not make adequate provision for ‘eligible persons’ to whom the deceased owes a moral obligation, a Will can be overridden by the current legislation. Applications must be made within 12 months of the death.
Due Diligence in Occupational Health and Safety
Under Section 8 of the Occupational Health and Safety Act 2000 (OHS), all employers have a duty of care to their employees. The most effective way of meeting this duty of care is to integrate health and safety concerns into your planning and implementation strategies. All employers are required to take ‘due diligence’ in the workplace. At its most basic, that simply means that you take care.
What Does Bankruptcy Really Mean?
In the September quarter of the year alone, Australia saw 5,677 new bankruptcies. Bankruptcy occurs when an individual does not have enough money or assets to pay their debts, and is entered into by a formal process. Only individuals can be declared bankrupt – when a company enters a similar state it is termed ‘insolvent’ and may face liquidation.
Taking the Next Big Step - Is Franchising for You?
Franchising has become one of the most progressive and dynamic business sectors in Australia. With estimated revenue of $128 billion in 2010, franchising has become a significant part of the Australian business scene and a valuable contributor to our economy. If you are thinking about going into business for yourself, but aren’t sure whether you should attempt it on your own or buy a franchise business; then you need to weigh up all the important factors before you make any decisions.
Considering a Trust?
A trust is an entity where a person (trustee) holds and governs property or other assets guided by the terms of a trust deed for the gain of another person or persons – the beneficiaries of the trust. A trust is not a separate legal entity like a company. All transactions in respect of the trust are undertaken by the trustee. Consequently, a transaction entered into by the trustee is a personal obligation.
SMEs – Watch out for the audits undertaken by the ATO, Payroll Tax and WorkCover
An audit is a review of the annual accounts and is usually carried out by an independent person or party, or a firm of accountants who are also accredited auditors. It is used to identify whether your business complies with accounting standards and relevant laws, regulations and government directions. Audits can also be of benefit to a business by highlighting opportunities for improved accounting and financial systems. The most common types of audits are usually related to various taxes such as GST and Payroll but can also be for other business areas such as Workers Compensation or Occupational Health & Safety.
Watch out – OSR coming down hard on Grouping of companies
Many businesses are required to pay Payroll Tax to the Office of State Revenue (OSR). Payroll Tax is a state-based tax imposed on wages that are paid or payable in the relevant state, and is generally applied to the annual payroll of employers/grouping of linked employers. Wages includes most payments for services made by an employer to employees, directors and contract workers who are deemed to be employees.
How to handle Employee Serious Misconduct
Serious Misconduct can be defined as any conduct that includes willful or deliberate behaviour inconsistent with the continuation of the employment contract and causes imminent and serious risk to the health or safety of a person or the reputation, viability or profitability of the business. It may include the employee, in the course of the employee’s employment, engaging in theft, fraud, or assault, the employee being intoxicated at work, or refusing to carry out a lawful and reasonable instruction that is consistent with the employee’s contract of employment.
How to handle a Bad Debt
Every business faces the challenge of collecting payment from non-paying clients and customers. This can have the potential to ruin your business, since you can’t always pay your own bills when you are waiting on money that never seems to be coming. Not to mention that it also prevents you from gaining that bit of extra cash to allow your company to grow and expand. As such, a successful business will usually have an effective credit management process in place, which relates to the accounts receivable (debtors) section of a business’ balance sheet.
The essentials of a valid contract
A contract is an agreement between two or more parties in which legal obligations are created which are enforceable by law. Legal contracts are used to formalise agreements amongst all levels of society. In fact, throughout your personal life you will enter into thousands of contracts. They can be as complex as purchasing a business or home or as simple as dropping off your dry cleaning. A well written contract is the best protection should a dispute arise.
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