Renewing a retail lease
This is a story about Piazza Trevi (the lessee) which failed to exercise its option to renew its retail lease by the required date specified in the lease agreement (Piazza Trevi v Cromwell BT Pty Ltd [2017] NSW SC 794) In 2012 the lessee entered into a 5 year retail lease agreement and began operating the […]
The Real Cost of Employee Turnover
Turnover Trends in Australia In the year to February 2019, 8.5% of the Australian workforce changed their employer or the business they operated. This is up from a record low of 7.7% in the year to February 2017. Across industries, hospitality workers were the most likely to change jobs, with 17.9% changing their employer or […]
7 reasons to restructure your business
1. Change in management or ownership of the business If you are a sole trader and you decide to take on a business partner, you will need to restructure as a partnership. On the other hand, if you buy an existing business and you become the new owner, you may have to restructure the business to […]
Tax planning for medical practices
It’s important for medical practices and practitioners to be aware of recent changes to the tax system that may impact their tax obligations, particularly as they relate to tax planning. These changes have the potential to alter strategic decision making and tax planning for those in the medical sector. Of particular note are the following […]
Redefining Governance
The word ‘governance’ sends many middle-market businesses cowering. For start-ups, it sounds like something that will constrain innovation and fast decision-making. For small family businesses, it seems like expensive overkill. For entrepreneurs with a strong vision, it appears too bureaucratic and stifling. All good businesses should have appropriate layers of governance, whatever their size or […]
Business Bankruptcy
You’re probably reading this because you’re totally stressed by constant creditor harassment. Perhaps you’re stressed because you realise the business is now insolvent and your worried that if you allow it to continue operating, you may be jailed for trading while insolvent. Perhaps you’re at a complete loss as to what you need to do to fulfill your […]
Benefits of a liquidation
One of the biggest decisions you will ever make is whether or not to liquidate your business. Have you done everything to try and save it? Is there a way to improve sales? Can you cut costs further? Can you put any more money in to keep things going? Should you sell your house and […]
Strategy to deal with the ATO
Small businesses account for more than 60% of the total debt owing to the ATO. So if you’ve got a tax debt, you are definitely not alone. But don’t make the mistake of ignoring a tax debt. It is not going to go away on its own. In fact there is no time limitation for the collection […]
Tax Negotiations
The ATO is different to other creditors. The ATO has the right to demand tax debt and take money from you without proving its debt in court. It also has the power to demand and take security deposits for future debts even before they exist. They can turn a company tax debt into the director’s […]
What is total super balance?
Recent superannuation reforms introduced a concept of “total superannuation balance”, which on the surface may give the simple impression that it is the sum of the balances of a person’s superannuation interests. However, this is not the case. What is the total balance relevant for? The total superannuation balance is relevant in determining a super […]
