The end of the financial year is fast approaching. Have you made a start on your trust distribution minute and/or intend to pay your beneficiaries a dividend? If you have a discretionary trust, then 30 June 2023 is an important date for you. The purpose of a trust is to separate the legal and beneficial […]
Trust Distribution Minutes and Dividend Statements: what you need to know before June 30 Read More »
Purpose is the primary element of motivation. At the heart of any business is its business practices. This is typically in the hands of a company’s greatest asset, cost centre and risk; the workforce or human element, which has many moving parts. It is paramount that we not only meet our obligations to various government regulators
Creating great places to work: engaging employees’ skill and will Read More »
Currently, small employers (19 or less) are exempt from reporting ‘closely held payees’ through Single Touch Payroll (STP). Micro employers (4 or less) have also had the option of quarterly STP reporting. Changes to these STP concessions will end on 30 June 2021. Small employers have had some concessions when it comes to reporting their
Changes to STP and concessions ending 30 June 2021 Read More »
Author: Niall Powell, Special Counsel, JHK Legal. A recent decision of the Queensland Supreme Court has relevance to duty considerations for estate planning. In Queensland, the assets of a deceased person are subject to potential family provision application claims. The result of any such claim is that the Court is able to reallocate and redistribute
Aggregation of duty and estate planning Read More »
Generational succession – handing your business across to your kids or family – sounds simple enough. But, many families end up in dispute right at the point when the parents, business, and children are most vulnerable. It’s important that generational succession is managed as closely and diligently as if you were selling your business to a stranger to avoid misunderstandings and disputes – you need to make sure that everyone understands what the transition will mean and everyone is aware of their role and responsibilities.
Generational succession: Do your kids really want to take over your business? Read More »
There’s no doubt that starting a new business has risks. While it may be tempting to remain positive and ignore them, you need to know how to reduce the financial risks when launching a new business. Risk management is the process of identifying and assessing risks and developing strategies to mitigate them. A risk management
Reducing the financial risk of launching a new business Read More »
As New Year resolution time rolls around, spare a thought for your business, because every business can benefit from a few resolutions of its own. Here are a few ideas that any business can build some New Year resolutions around. Make sure you have an up to date business plan. Many business plans sit gathering
New Year resolutions for small businesses Read More »
Author: Sarah Jones, Legal Practitioner Director, JHK Legal When you enter into a sale and purchase of business agreement, the seller will usually be asked to agree to a restraint of trade for certain acts done in a certain area and a certain period of time. Usually, this will apply to both the entity selling
Sale and Purchase of Business Restraints: How do they affect you? Read More »
Following a review of Australia’s business registers, Directors will be required to register for a new lifetime director ID number, much like a tax file number. The introduction of the new lifetime Director Identification Number (DIN) regime is part of the Government’s Modernisation of Business Registers (MBR) Program creating greater transparency and monitoring of the
What you need to know about the new Lifetime Director ID Number Read More »