In a move designed to help directors better understand their statutory duty to prevent insolvent trading, ASIC last week released Consultation Paper 124 – Directors’ duty to prevent insolvent trading: Guide for directors (Consultation Paper).
Earlier this year we reported on the outcome of this litigation before the Tasmanian Full Court. We said at the time that an intoxicated party recovering compensation will always grab a headline and that this case was no exception. Once again it has grabbed another headline.
The Tax Office has recently released a draft Self Managed Superannuation Fund Determination (SMSFD 2009/D1) outlining the Commissioner’s view that the acquisition of a trauma insurance policy by the trustee of a self managed superannuation fund (SMSF) does not necessarily result in a contravention of the sole purpose test.
Level crossing accidents attract a lot of media attention, usually because they involve serious injury and major damage. Litigation will often follow to recover damages for injury, property damage, loss of business profit or a combination of all these things.
The New South Wales Supreme Court has awarded financial broking company, Tullett Prebon (Australia) Pty Ltd, more than $500,000 damages after a finding that its former employee had breached their employment contract.
A recent decision of the New South Wales Supreme Court in the case of ASIC v Somerville & Ors [2009] NSWSC 934, highlights that legal advisors may be personally liable if they give advice in relation to unlawful activities conducted by their clients.
The Safe Work Act 2009, the model national occupational health and safety laws, was released on 28 September 2009. This bulletin provides an overview on the key features of the proposed Act.
For many years there has been tension between the legal principles governing the relationship between an employer and employee and those principles which govern the relationship between a principal and independent contractor.
The Tax Acts have long treated dividends paid from private companies to the trustees of superannuation funds as “special income”, which means they are taxed at the top marginal tax rate rather than the normal concessional rates for superannuation funds.
The Tax Acts have long treated dividends paid from private companies to the trustees of superannuation funds as “special income”, which means they are taxed at the top marginal tax rate rather than the normal concessional rates for superannuation funds.
This recent Supreme Court decision highlights the inherent power of the Court to compel a claimant to attend an independent medical examination even where that examination may cause pain, distress or discomfort.
Clients will be aware that the Fair Work Act 2009 (Cth) (FW Act) and Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth) (Transitional Act) commenced operation on 1 July 2009. This bulletin outlines, in summary, a number of features of these laws and how they will impact on your business.