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Division 7A ITTA 1936 (Cth) – compliance & consequences
This article provides an overview of Division 7 of the Income Tax Assessment Act 1936 (Cth), covering advances of moneys and loans between private companies and its shareholders/associates, exceptions to these, and requirements for a compliant Division 7A loan agreement. The implications of failing to have a compliant agreement are explained in this article.
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What exactly is a section 293 direction?
There are several reasons why a shareholder may require financial information, primarily they are denied access to the ‘accounts’ so as to make informed decision about the company. The Corporations Act 2001 (Cth) (Act) provides various mechanisms for shareholders to obtain financial and accounting information about a company, to allow them to access full and…
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Director’s misuse of funds held to be oppressive
This article explores shareholder oppression, examining Section 232 of the Corporations Act 2001 (Cth) and Martin v Australian Squash Club Pty Ltd (1996) 14 ACLC 452, to understand the cumulative effect of individual acts.
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Electronic document execution by directors
The Federal Government has issued a ruling allowing companies to sign documents electronically until 6 November 2020. Find out more about how this ruling affects your business.
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Assigning intellectual property and the right to sue
This case examines Re Taypar Pty Ltd v Benko Santic [1989] FCA 543, which determined that an assignee of intellectual property rights cannot sue for pre-assignment infringements, unless the assignment explicitly assigns a right to do so.
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Overview of negligence claims in domestic building disputes
A domestic building contract gone wrong: Cerda v Jacob [2020] QCATA 57 highlights the difficulties homeowners face when contracts don’t comply with the Queensland Building and Construction Commission Act (Qld) 1991, leading to issues with enforcing the contract and asserting rights to quality works or remedy defective construction.
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Ending a domestic building contract
Ending a domestic building contract can be complicated. Discover the requirements for a home warranty insurance claim and the implications of the Harper Property Builders Pty Ltd v Queensland Building and Construction Commission [2018] QCATA 70. Find out how to navigate a building contract “divorce” with good faith.
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Think twice before claiming delay due to COVID-19
In response to COVID-19, the Federal Court of Australia has adopted virtual proceedings and is reluctant to grant stays or adjournments. Read this article to learn more about the Court’s view and the pros and cons of virtual trials.
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Evidence from the Wayback Machine accepted
Australian Courts are increasingly considering the use of evidence from the Wayback Machine, but questions remain as to whether they will accept such reports in practice and what will be allowed?
