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Like buying a 1999 Saab convertible: The importance of understanding the commercial lease obligations when buying a bargain business

Like in other times of economic turmoil, bargain businesses are now increasingly on the market. However, just like buying an old car, sometimes the alluringly low upfront price of a business obscures the painful reality of extraordinary costs you’ll have to bear down the track. As commercial lawyers, we are often asked to assist to [...]

2020-09-13T22:37:52+00:00September 13th, 2020|Business Advice, Contracts, Corporate Advisory, Property|Comments Off on Like buying a 1999 Saab convertible: The importance of understanding the commercial lease obligations when buying a bargain business

Beware the new laws tackling Phoenix activity

Illegal Phoenix activity is when a new company is created to continue the business of an existing company that has deliberately liquidated to avoid paying outstanding debts, including creditors, taxes and employee entitlements. Throughout February to April 2020, the Treasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2019 was passed by Federal Parliament and the relevant [...]

2020-09-10T03:37:48+00:00September 10th, 2020|Business Advice, Corporate Advisory|Comments Off on Beware the new laws tackling Phoenix activity

Extension of JobKeeper provisions in the Fair Work Act (FWA)

Legislation was passed on 1 September 2020 to extend the JobKeeper scheme until 28 March 2021. Accordingly, the JobKeeper provisions in the FWA were also extended, with some changes. The extended provisions take effect from 28 September 2020 and apply until 28 March 2021. Under the extended provisions, qualifying employers who are receiving JobKeeper payments [...]

2020-09-03T05:49:42+00:00September 3rd, 2020|Business Advice, Compliance, Corporate Advisory, employees, Employment Law|Comments Off on Extension of JobKeeper provisions in the Fair Work Act (FWA)