News & Insights

The reforms included in the bill are intended to take effect on 1 January 2021 to assist with the economic impacts of COVID 19 and to replace the temporary Covid relief measures with respect to statutory demands and insolvent trading.

On 24 June 2020, the State Revenue Legislation Further Amendment Act 2020 (NSW) received Royal Assent. The legislation clarifies that a trustee of a discretionary trust owing residential property in NSW is taken to be a foreign person for foreign surcharges purposes, if the trust does not irrevocably prevent a foreign person from being a beneficiary of the trust.

Hall Chadwick firmly holds its place as a leading top 20 accounting firm in AFR’s Top 100 Accounting Firms 2020. The rankings were published yesterday with Professional Services Editor Edmund Tadros writing “The COVID-19 pandemic has resulted in accountants becoming a lifeline for clients struggling with keeping their business afloat.”

A recent decision of the NSW Supreme Court in Sneakerboy v Georges Properties Pty Ltd (No.5) [2020] NSWSC 1141 has provided some clarity to the application of the regulations of the Mandatory Code of Conduct for retail and commercial tenancies.

Navigating the post Covid-19 environment has presented particular challenges for landlords and their tenants. In this edition of In Focus we explore some interesting developments with respect to Administrators personal liability for rental payments.

On 6 October 2020, the Treasurer, Mr Josh Frydenberg, presented the COVID-19 delayed 2020-21 Federal Budget. The Budget was directed at promoting spending, at a personal, business and government level to create jobs.

In this edition of In Focus, we look at the distinction between casual and permanent employment and the position of the employer on entitlements if a casual employee is subsequently characterised as a permanent employee.

We have previously published the proposed rules announced by the Government that JobKeeper Payment would be extended until 28 March 2021 to provide further support for COVI-19 affected businesses and households, with tightened eligibility rules and lowered payment rates, from 28 September 2020.

Advisory boards have become increasingly prevalent over the last decade or so as business operators seek expertise that is not currently within their current boardroom or as organisations deal with growth and seek to remain competitive in an increasingly demanding business environment.

For any employee that becomes an eligible employee as a result, the employer must provide notice to the newly eligible employee within 7 days of the commencement of the legislation (that is, by 22 August 2020) that they might be eligible for JobKeeper and ask the employee to provide them with a completed JobKeeper Employee Nomination Notice (1 July employees only).