News

The Federal Government has passed legislation which seeks to improve cash flow pressures for small business. Under the Payment Times Reporting Act 2020, businesses and government enterprises with a total annual income of over $100 million will need to report biannually on their payment terms and times for their small-business suppliers. The reporting scheme will take effect from 1 January 2021

Changes to Security of Payments Legislation in Western Australia

The Building and Construction Industry (Security of Payment) Bill 2020 (WA) (Bill) was recently introduced to Parliament. The Bill, if adopted, will provide a new Act for securing payments under construction contracts, replacing the Construction Contracts Act 2004 (WA) (CCA).  The Bill will bring the Western Australian security for payment regime into line with the regimes in place on the East Coast of Australia.

The recent introduction of Australia’s Director Identification Number (DIN) regime is a proactive step taken by the Federal Government to provide greater transparency surrounding the relationships between directors and multiple companies and modernise and streamline Australia’s business registry system.

The WA State Government released the Commercial Tenancies (COVID-19 Response) Regulations 2020 (WA Code) on 30 May 2020. The WA Code gives effect to the National Code of Conduct and introduces regulations under the Commercial Tenancies (COVID-19 Response) Act 2020 (WA), which was introduced in April 2020.

The issue of control, how it must be exercised and the importance of seeking specialist advice is highlighted by the recent decision of the Victorian Court of Appeal in Wareham v Marsella [2020] VSCA 92.

Zafra Legal - Wills & Estates

Zafra Legal welcomes Matthew Lenhoff, Special Counsel to our Litigation & Dispute Resolution team.

Clarification of superannuation binding death benefit nominations under recent SAT decision.

Case study of Handsley v Commissioner of Taxation [2019] AATA 917 (17 May 2019)

Updates to the duties legislation

From 1 January 2019, changes to the Duties Act and the application of foreign buyer’s duty which now imposes an additional duty of 7% on the dutiable value for certain transactions