Owning a business can be exciting, but the process of purchasing a business can be daunting, especially for first-timers. It is very important for a purchaser of a business to understand what they are buying before committing to the purchase. Before you purchase the business, you (often with the help of professionals) will perform due …
Businesses which engage contractors should be aware of unwittingly getting caught by the Australian Taxation Office (ATO). If an independent contracting arrangement is found to be an employment relationship under the ATO’s rules, the business will be liable to pay superannuation and PAYG withholding tax to the ATO (note that there are other instances where …
A Section 32 Vendor Statement (Vendor Statement) is a legal document containing information about a property which the Sale of Land Act 1962 (Act) requires a vendor to disclose to an intended purchaser before signing a Contract of Sale. The disclosures include financial matters (such as rates and other outgoings), insurance, encumbrances, notices, building permits …
From 1 November 2021, all directors of a company registered in Australia must apply and obtain a Director Identification Number (DIN). DIN is a unique 15-digit identifier issued to a director. Each director will only need to apply for the DIN once, even if they change their name. The DIN will be used by the …
We refer to our previous articles regarding rent relief. The Commercial Tenancy Relief Scheme Regulations 2022 (the “New Regulations”) were passed on 1 February 2022 (which are backdated to be effective from 16 January 2022). In summary, the New Regulations are largely similar to the previous regulations. The main changes brought about by the New …
When signing a contract of sale to purchase a property, it is crucial that you understand if the contract is unconditional or conditional. This is to avoid unnecessary disagreement with the vendor or being locked in by the contract. Once you sign an unconditional contract, generally, you are committed to the purchase of the property …
In the landmark decision of WorkPac Pty Ltd v Rossato & Ors [2021] HCA 23, on 4 August 2021, the High Court of Australia allowed the appeal from the judgment of the Full Federal Court, providing clarity on the characteristics of “casual employment”. In the case, Mr Rossato, an employee claimed that given he had …
New Commercial Tenancy Relief Scheme The Commercial Tenancy Relief Scheme Regulations 2021 (the “Regulations”) were passed on 24 August 2021, backdated to be effective from 28 July 2021. We have outlined here the Regulations’ application. If you have any specific concerns or questions, please do not hesitate to contact our office to discuss. Eligibility The …
New Commercial Tenancy Relief Scheme It was announced on 28 July 2021 that the Victorian Government will be reintroducing the Commercial Tenancy Relief Scheme to ease pressure by providing rent relief to eligible tenants with separate support provided to landlords. Today, the Victorian Government has announced that new legislation will be introduced later today to …
If you are walking into a property transaction, be it selling big or buying small, it is extremely important that your transaction is completed timely and smoothly. No matter the size of the transaction, you should always ensure that it is carefully assessed before you pick up the pen and sign the contract. At Scott …
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Scott Legal is a well trusted legal company based in Hoppers Crossing, Victoria. Scott Legal was set up with the desire to bring great legal advice to people who understand the need for professional legal knowledge.
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