From cathropartners.com.au: In 2024, insolvency appointments in Australia reached record highs, with over 40,000 cases, primarily driven by the construction sector and increasing pressures in the accommodation and food services industry.… read more
From www.cbp.com.au: The latest edition of the Digital Governance, Cyber and Privacy newsletter discusses significant developments, including the introduction of the Cyber Security Act 2024, which mandates ransom reporting for certain businesses and sets standards for internet-enabled goods.… read more
From au.andersen.com: Commissioner of Taxation v Bakarich (No 2) [2024] FCA 1448 is a landmark court decision in Australia that reinforces the Australian Tax Office’s promoter penalty regime, focusing on the prohibition of tax exploitation schemes.… read more
From www.salea.com.au: Small Business Restructuring (SBR) offers a streamlined process for financially distressed businesses to restructure their debt while maintaining operations.
The typical timeline includes initial steps of appointing a Small Business Restructuring Practitioner, drafting and presenting a restructuring plan within several weeks, and securing creditor voting before implementing the agreed terms.… read more
Reported at youlegal.com.au: Medical practice owners should prepare for unforeseen events like bankruptcy, divorce, accident, illness, or death by establishing essential legal documents, including shareholder or unitholder agreements and buy/sell agreements.… read more
From stacklaw.com.au: There are unique legal challenges de facto couples face upon separation, particularly concerning the potential for ex-partners to inherit if wills aren’t updated.… read more
From pointonpartners.com.au: The State Taxation Further Amendment Act 2024 introduces significant changes to the vacant residential land tax (VRLT) exemptions, effective from January 1, 2025, allowing companies and trustees to qualify for holiday home exemptions under certain conditions.… read more
From justicefamilylawyers.com.au: A constructive trust is a court-imposed remedy in Australian family law designed to prevent unjust enrichment when one partner claims rights to property legally owned by another, despite significant contributions from the claimant.… read more
From Andersen Australia: Includes recent legislative updates and outline the latest developments in the areas of corporate tax, individual tax, indirect tax and international tax.… read more
From expertsdirect.com: An executive summary in an expert report provides a concise overview of the document, enabling time-poor decision makers to quickly grasp key points.… read more
From www.bantacs.com.au: From January 1, 2025, a vacancy land tax will be implemented in Victoria, affecting all residential properties that are not occupied for at least six months during the previous calendar year.… read more