This article is about the Commissioner's final report in the banking royal commission released to the public on 4 February 2019.Read More
The United Nations estimates there are more than 40 million victims of modern slavery worldwide. Over half of these victims are exploited in the Asia-Pacific region, in which the supply chain of a significant number of large businesses operating in Australia are based.Read More
On 1 July 2018, phoenixing reforms came into play. At Brown Wright Stein Lawyers, we are examining the impact these reforms will have on property developers, vendors and purchasers and the commercial implications in terms of tracking and regulating illegal activities for businesses.Read More
Phoenixing involves stripping and transferring the assets out of a company, leaving it to perish in a blaze to avoid paying its liabilities. A new company is then reborn from the ashes of the old company, starting anew and liability free, however usually with the same assets and business as the old company.Read More
The Commonwealth Government has announced a 12-month amnesty for employers to self-report underpaid superannuation amounts, during which period the usual penalties for underpayment (non-deductible payments and administrative penalties) will not apply. The amnesty period ends on 24 May 2019.Read More
What is a sale on a 'retention of title' basis?
It is a conditional sale. The supplier remains the owner of the goods being sold until the goods are paid for in full by the purchaser. This transaction is now deemed to be a secured transaction.Read More
The Australian Treasury recently reviewed the Australian Consumer Law (ACL) and is seeking feedback from businesses and consumers to have their say on proposed reforms to clarify, simplify and modernise the consumer guarantee framework in the ACL.Read More