Consequences for Directors Shirking Responsibilities

March 23, 2016

Benjamin Franklin said, “In this world nothing can be said to be certain, except death and taxes”.

It seems that tax reform is on the agenda for government at both State and Federal level. It is certainly something that is never far from the lips of people in business, whether big or small. It is trite to say that companies are often ‘tax collectors’, especially with respect to GST, PAYG and superannuation. What some Directors may not be acutely aware of though, is the significant personal liability that can attach to a failure to remit these collected monies to the Australian Taxation Office (ATO).

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Corporate Insolvency

May 13, 2015

Is your business able to pays its debts as and when they are due and payable? It is with interest that I note that the Australian Securities and Investment Commission (ASIC) has published details of corporate insolvency activity for 2013/2014. The rate of company insolvency has dropped from the previous year, which is promising for business generally.

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Could what you say online be labelled defamation?

April 30, 2015

It is not uncommon to hear politicians and high profile members of the public threatening to sue claiming to have been ‘defamed’. Defamation, generally speaking, is where one party sues another because defamatory words concerning that person have be published or made known to others. In Queensland, the law of defamation is governed by both the common law and the Defamation Act 2005 (Qld).

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Thanks for not smoking

April 7, 2015

There is little doubt that the community’s attitude to smoking in public areas and buildings has changed, as has the law in that regard. The driving force behind these changes is no doubt the health and wellbeing of those in the community that don’t smoke, but who may be affected through ‘passive smoking’?

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Companies and Directors Duties

April 7, 2015

The company structure has existed in law for centuries, but it wasn’t until relatively recent times that the company was considered a separate legal ‘entity’, that is, separate from those members who may own the company. It is common, to say the least, that people establish companies to run businesses. The creation of a company, under the Corporations Act 2001 (‘the Act’), does provide, in very general terms, some legal protections for the operators and owners of the company, for example the directors and the shareholders. A company remains in existence until it is deregistered.

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