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The past couple of months it has seemed as if a well-known business has hit the wall every few days – property developers and construction companies, Appster (a high-profile developer of computer and smart phone apps) going into liquidation, long-established menswear retail Roger David, online travel facilitator BestJet, and just this week iconic Australian beauty…
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Public affairs in 2018 have been dominated (leaving aside the odd prime ministerial assassination) by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services industry. As I have observed previously in this space, an inquiry into “Misconduct” was never going to hand out gold stars for good behavior, but even the strongest…
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This month I am getting right out of my comfort zone of commercial law, property and the like to an area that I never get involved with in the course of my day to day practice – but it is one of vital importance to every Australian. (And for my readers outside Australia, these same…
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“It’s the vibe.” It’s a short but most memorable line in the classic Australian movie “The Castle” –suburban lawyer Denis Danuto’s heartfelt plea to the Court, as he argues to save the Kerrigan family home from acquisition for an airport expansion. I thought of this scene just recently, as I had my first encounter with…
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Most sectors of the traditional pre-internet business world have struggled to keep pace with the changes brought about by the globalised digital economy. The law is no exception – around the world legal institutions are trying to catch up, often driven by the immediate need to catch the proceeds of digital transactions in the taxman’s…
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As of 1st July 2018, a Federal Government plan aimed at sealing a multi-million-dollar revenue hole will make buying new property more complicated. When a developer sells a new property, the price includes GST, so the developer must pay 1/11 to the Australian Tax Office with its next Business Activity Statement. However, some smarty-pants investors…
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Recently we’ve seen the financial planning and advice industry getting a bad rap at the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. The title of the Royal Commission itself is telling. The focus of the investigation is wrongdoings in the industry, which means we’re not going to be regaled with…
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Business owners often ask me what they can do to protect their assets if their business runs into trouble. Unfortunately, all too often this question is asked when it’s too late. By the time they ask, trouble is already upon them e.g. they are being sued for failure to complete a contract on time or…
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We’ve discussed how to increase your chances of getting paid and how to follow up outstanding invoices. But what happens if you do everything right, but it still all goes wrong? Unfortunately this scenario does happen. Currently I am helping two ordinary hardworking fellows through exactly this sort of a situation. The gents, who trade…
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In a recent blog titled “Show me the money” I discussed the six steps you should take at the start of a working relationship with your customer, to better ensure you get paid promptly for the goods or services you provide. By applying these steps consistently and diligently you will certainly minimise your bad debt…
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