With the Federal election taking place tomorrow and current polls revealing it will likely be a competitive race to the finish, it is a good time for employers to understand what policies the major political parties propose in the employment and industrial relations sphere.
From 1 July 2019, the thresholds for determining whether an Australian proprietary company is considered a ‘large’ proprietary company under the Corporations Act 2001 (Cth) (Act) will increase. This is the first time the thresholds will have been adjusted since 2007. Companies that will no longer be classified as large proprietary companies will have a reduced compliance burden.
One question we are advising clients on more frequently these days revolves around them wanting to help their children financially, but at the same time protect that money to ensure it stays in the family. Some interesting figures from 2017 pointed to family members, essentially the Bank of Mum and Dad, being the fifth largest source of lending in Australia behind the Big Four, at around $65 billion1.
Missing vital information for personal injury claims was one of the key drivers behind Hall & Wilcox’s development of a new web-based application that will solve a long-standing problem for companies that are self-insurers and save them money.
ATO view on Qian v FCT
In its Decision Impact Statement (DIS) regarding the decision of the Administrative Appeals Tribunal (AAT) in Qian and Commissioner of Taxation  AATA 14 (Qian), the ATO clarifies that it does not support the contention that Qian is authority for decisive or predominant weight being given to a worker supplying their own vehicle when assessing whether they are an independent contractor or an employee.
Startups and entrepreneurs are a vital part of the Australian economy but issues affecting startups, or policies and promises focusing on investment in innovation, have received little air time in this federal election campaign, James Bull, Director of Frank, Hall & Wilcox’s dedicated start-up practice, asked key industry players and members of Hall & Wilcox’s Frank Lab cohort (all start-ups in varying stages of their entrepreneurial journey) to share their election wish lists.
Masters v Cameron update
The Victorian Court of Appeal has recently handed down its decision in The Edge Development Group Pty Ltd v Jack Road Investments Pty Ltd.1 The case involved a dispute as to whether a letter of offer signed by both parties was a binding contract for the sale of property. Ultimately, because the letter of offer was ‘subject to the contract being executed’, the Court found that the letter was not binding.
ASX releases a revised version of Guidance Note 33 Removal of Entities from the ASX Official List
Hall & Wilcox Health and community law alert
The Royal Commission into Violence, Abuse, Neglect and Exploitation of People with Disability has formally commenced, with the Letters Patent and terms of reference released. This follows a period of consultation since Prime Minister Scott Morrison and Minister for Families and Social Services Paul Fletcher announced the Commission’s establishment on 5 April.