WHO SHOULD READ THIS Landlords and SME tenants of retail and commercial leases in Queensland. THINGS YOU NEED TO KNOW The Queensland Government released Regulations on 28 May 2020, implementing the National Code. While based on the Code, the Regulations differ in a number of ways, and significantly alter the rights and obligations of both …
Monthly Archives: May 2020
The hydrogen sector in Australia â the cart or the horse; which one goes first?
2020 has brought mixed outcomes to Australiaâs resources and energy sectors. Sadly to date, there have not been many winners. However, the emerging hydrogen industry appears to have bucked that trend with a number of key funding developments having been announced in recent weeks revealing the Commonwealth Governmentâs determination to see this industry developed. How …
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The future of litigation funding and class actions in Australia
The federal government has recently announced a range of measures to deal with the criticisms surrounding the litigation funding and class action regimes in Australia. Two weeks ago, it gave the green light for a parliamentary inquiry (first foreshadowed in December 2019) to proceed. Last week, it determined that litigation funders should be subject to …
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Motivating and incentivising employees in a downturn
There is no question that the COVID-19 pandemic is placing unprecedented stress on businesses. With many businesses having to stand down employees, request that their staff take a reduction in salary, or simply looking to conserve cash, offering equity incentives in the current environment might sound counter-intuitive. However, cash strapped companies seeking to reward, motivate …
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COVID-19: The deed can now be done, electronically!
The High Level What are the changes? Documents (including deeds) can now be signed and witnessed electronically. Who do they apply to? Individuals and companies. When do they apply? Now, until 31 December 2020. Background On 15 May 2020, Queensland passed new temporary regulations that modify the requirements for the making and use of documents …
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Viruses about! Cyber-security update for lenders
The Lender series publications are a series of easy to read and practical âhow toâ guides aimed at assisting lenders with typical issues encountered when providing finance. The COVID-19 outbreak poses an array of cyber security challenges for lenders in Australia. The ACCCâs cyber monitor, ScamWatch, has reported a significant increase in cyber security incidents …
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Casual approach causes major headache: WorkPac v Rossato
In a unanimous, but 272 page, judgment, the Full Court of the Federal Court has shattered what many employers had considered to be the standard position about engaging casual employees. An appeal is all but certain. However, as it stands, employers with a casual workforce face an unprecedented risk of employees claiming back-pay, and potentially penalties, …
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Workers not entitled to use paid sick leave during stand down
In a significant decision, the Federal Court has determined that Qantas Airways does not need to allow its stood down workers access to paid personal/carerâs leave or compassionate leave during the period of stand down. The decision by Justice Flick clarifies the obligations of employers and the rights of thousands of other stood down workers …
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Industrial Manslaughter Offences about to become law for Queensland Resources Sector
In October 2017, the Work Health and Safety and Other Legislation Amendment Act 2017 (Qld) (WHS Amendment Act) introduced industrial manslaughter offences in Queensland. The introduction of the offences was in response to the recommendations of the Best Practice Review of Work Health and Safety in Queensland. The Review followed the separate multiple fatalities at …
Section 100A and professional practice profit distribution â a timely reminder
Although COVID-19 stimulus measures have consumed so much time and attention for virtually all tax advisers, the financial year is rapidly drawing to a close, and many tax agents are finalising returns for the 2019 financial year. One issue that continues to vex tax practitioners is that of trust distributions â particularly in light of …
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New Commercial Leasing Code of Conduct â have you considered GST treatment?
When finalising agreements with tenants pursuant to the new Commercial Leasing Code of Conduct (Code), landlords should properly consider the potential GST treatment of the agreement and ensure that any deferral of reduction of rent will operate as intended from a GST perspective.  Under the Code, landlords of tenants whose business has been significantly affected …
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Practical applications of the JobKeeper stimulus measures
The JobKeeper scheme is not only unprecedented in its size and application, but also unique in the speed in which it was rolled out. Treasury and the ATO must be praised for the incredible amount of work they undertook in such a short time to release this material. There is no doubt that a great …
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Year end tax planning in a pandemic: this yearâs top 10 âmust-dosâ
In a relatively short period of time, COVID-19 has changed many things â from the way we interact with each other to the way we do business. Whilst year end tax planning is always an important focus, a number of COVID-19 induced factors means that your year end tax planning for this financial year will …
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Navigating the murky waters of dispute resolution amid COVID-19: Is arbitration the answer?
Despite some tentative and positive steps recently, the impact of COVID-19 will continue to be felt widely with new legal and regulatory measures impacting the way in which all businesses operate. As our previous updates have described, this impact is also being felt by courts across Australia with many adopting temporary changes to their operations in …
Debt recovery during COVID-19
In addition to its overall negative impact on the Australian economy, the COVID-19 crisis has also seen opportunistic individuals disingenuously attempting to rely on the current environment to avoid their legal obligations in circumstances which do not genuinely warrant them doing so. This type of conduct has in part been facilitated by the unprecedented …
Sign here⌠or insert signature here
Temporary changes for electronic execution of documents, and further updates for virtual and hybrid meetings The high level What has changed? Documents can temporarily be signed under the Corporations Act electronically. Who does it apply to? Companies only. When does it apply? Now, until 5 November 2020. The detail On Tuesday, 5 May 2020, the …
COVID-19: FIRB provides further guidance
It has been a big few weeks in the foreign investment space, particularly in light of the drastic changes to the Foreign Investment Review Board (FIRB) regime announced by the Treasurer on 29 March 2020. As set out in our previous alerts on this issue (which you can find here and here), the changes imposed …
COVID-19: Managing liability in planning a resumption of business operations
On Friday, 8 May 2020, the Commonwealth Government announced a three-step plan for the easing of COVID-19 related restrictions. Each of these stages will, subject to the ongoing application of social distancing restrictions and State and Territory requirements, permit businesses in different industries to resume operations, with some of the first businesses to open being …
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Changes to convening and holding creditorâs meetings
Corporations (Coronavirus Economic Response Determination) No. 1 2020 On 5 May 2020, Treasurer Josh Frydenberg announced changes to the Corporations Act 2001 (Cth) (Corporations Act) and related legislation that allows for companies to have entirely virtual meetings and to issue electronic notice of meetings. The changes have been made to give companies, responsible entities, external …
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IP Australia introduces new streamlined extension of time requests in response to COVID-19 disruptions
In response to the current COVID-19 pandemic and its impact on businesses operating in Australia, IP Australia has introduced a streamlined extension of time request process to assist customers who have been adversely impacted by COVID-19. Up until at least 31 May 2020 rights holders and applicants can apply for extensions of time for up …
Be cyber-safe, donât hibernate
As Scott Morrison implements strict social distancing measures and puts our Australian economy into hibernation, businesses in the financial services sector must remain extra vigilant of the increase in cyber-threats facing them, their suppliers and their customers from the digital space. Although we are all busily practising social distancing, it is crucial for businesses in …