You may be looking for premises and get offered some space available on a “sublease”. This is common at present because more businesses than ever have employees working remotely from home, and so they have too much floorspace. Subletting the excess space will allow them to recoup some rent during the balance of the term of their lease. Read more
In 2014 a man took out life insurance. He named his de facto partner as the beneficiary of the policy. In his application he had claimed to be a healthy individual who did not take drugs, and who lead a healthy lifestyle. The policy was for $2,625,000.00. Read more
A man and woman had been married to each other for many years. In 1997 a family home was purchased under the husband’s sole name. In 2000 the husband and wife separated, and the husband transferred half of the ownership of the home into his wife’s name. Following this, the husband and wife informally agreed that the husband would transfer his remaining one-half interest in the family home to the wife, making her the sole owner of the family home. Read more
In 2018 a man died without a will. He had three children. He had separated from his wife eight years prior to his death. Despite separating, the two were not divorced. Not long after the man’s death, his family was shocked to find that their father had a secret lover who they had never met or heard of. She made a claim on their father’s estate. Read more
If you have a discretionary trust that holds (or may one day hold) real estate, then you need to be aware of a recent change in the law. Read more
Cybercrime represents a major threat to all businesses. Here are the top 9 things to consider with respect to cybercrime. Read more
In a recent case involved an employee of an oil refinery. The oil refinery’s management was in the process of negotiating a new pay deal with staff. The negotiations had been going for over two years without reaching an agreement. Read more
Recently, a 19 year old man drank three (3) beers one evening, drove home a few hours later and was pulled over by the police. When breathalysed he was found to be slightly over the drink driving limit and was charged with a drink driving offence. He pleaded guilty to the offence and was sentenced but kept his driving license, and kept his clean criminal record. How? Read more
As a business owner you will be aware that you must provide a safe work environment. Recently, new laws have been introduced in QLD, Vic, the NT and the ACT relating to industrial manslaughter. These laws mean that the operators of businesses in those states and territories can be held criminally liable for the death of their employees at work. Read more
For your business to survive and thrive you must understand the importance of cashflow. Cashflow is greatly affected by the time you give your customers to pay your invoices. Whilst it is common for businesses to give 30-day payment terms, it is often the case that big businesses impose payment terms of 60, 90 or 120 days. As small business owners generally want to have big businesses as customers, they have little choice but to agree, even though it will adversely impact on their cash flow. As a consequence, your business could be profitable, but ultimately destroyed by poor cashflow. Read more