Employment Law – What you need to know

Termination Termination of employment occurs when an employee’s contract of employment with an employer comes to an end. This can happen because of dismissal, resignation or redundancy. What is unfair dismissal? An employee is considered unfairly dismissed if the Fair...

Identity Theft – How to Protect Yourself

Identity theft is a type of fraud that usually involves stealing money or obtaining other benefits by pretending to be someone else. Identity theft can occur in a number of ways – from someone using your name to open bank accounts, take out loans, make purchases or...

Personal service income and the results test – Beware!

During the 2011/12 income year, the taxpayer company (the company) entered into three agreements with BSI Contracting Pty Ltd (BSI) under which the company would provide its only director (Mr Prasad) to perform certain project management services to ASIC. In each...

Director Penalty Notices

What is a director penalty regime? The director penalty regime ensures that directors cause the company to comply with certain taxation and superannuation obligations. Directors have a responsibility to ensure that the company meets its PAYG and SGC obligations. If...

When is a director liable for Company debts?

A director can be liable for company debts in the following areas: Insolvent trading Insolvent trading occurs when a company incurs a debt that it is unable and fails to pay, at a time when a director knew, or should have known, that the company was insolvent....
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