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Understanding Directors’ liability for underpayments: lessons from Chatime case
Navigating the intricate and complex matrix of workplace regulation is essential for every business. A recent Federal Circuit Court case involving the co-founder of Chatime, a popular bubble-tea chain, highlights the risks inherent in being a Company Director and confirms that ignorance is not a shield from Directors' liability for underpayments to employees.
What is a business to business or trade sale and what are the benefits?
If you wish to exit your business, there are a range of options available. You may consider selling your business to a third-party buyer in a business to business sale sometimes referred to as a trade sale.
What would climate-related disclosures look like in Australia?
The Australian Accounting Standards Board (AASB) is working on reviewing certain sustainability reporting rules (IFRS S1 and S2) and has shared some important information about how companies in Australia will disclose climate-related information.
Medical centres - payroll tax time for action
Victoria’s State Revenue Office (VSRO) and NSW Revenue (RNSW) issued near identical rulings on 11 August 2023 on the application of payroll tax to payments made by medical centres to health professionals. Unsurprisingly, the two revenue authorities followed a long string of court victories to publicly confirm they will require payroll tax on such payments.
How to tackle rising business costs
In recent years there has been a lot for business owners to deal with from the Covid-19 pandemic, to navigating inflation and now it’s cost of living impacts. While larger businesses often have the financial backing to counteract these difficulties in the short term, SMEs need to be more resourceful.
What is debt finance and what are the benefits?
Debt can sound daunting for business owners but actually can be a cost-efficient way of obtaining the finance required in the short to medium term to realise growth and expansion plans.
From August 10 days leave for domestic violence.
Small business employers (employers with less than 15 employees) from 1 August 2023 are required to provide paid Family and Domestic Violence (FDV) leave, as outlined in the National Employment Standards. Employers with more than 15 employees have been obligated to provide this benefit since February 1, 2023.
How businesses can survive rising interest rates
In the wake of consecutive rate rises and higher inflationary pressure from the rising cost of doing business, it is important to understand all of your options as a business owner and consider the range of hedging tools on offer by many banks and lenders.
The European Carbon Border Adjustment Mechanism and Australian exporters: How European ESG changes may affect market access
Australian companies that export cement, iron & steel, aluminium, fertiliser, hydrogen and electricity to the European Union (EU) are on warning. They will need to accelerate their transition to a low-carbon future or risk losing competitiveness; or even access, to the EU market.
Financial misconduct
In a long-awaited development, the Senate has approved a bill to create the Compensation Scheme of Last Resort (CSLR), ensuring that individuals affected by financial misconduct can seek redress and compensation. This marks the implementation of one of the final recommendations made by the Hayne Royal Commission.