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26/03/2016

Why doesn’t your Employment Contract allow for specific Awards?

QUESTION: I am building an Employment Contract for my employee. She’s been with me for 6-years (hence the anxiety). I notice there’s no reference to the Award provisions under which she is employed. Does your Employment Contract override the Award provisions? Should not your contract compliment them? Where do specific employment […]
25/02/2016

Disaster with no employment termination clause

Employment contract QUESTION: Brett, you strongly recommend termination clauses. We approached the website that normally prepares our Employment Contracts. They don’t use termination notices. I asked them why. They said they were not lawyers and couldn’t give legal advice. This does not inspire me with confidence as I build legal documents on their website. […]
24/02/2016

How to use 4 secret trusts

What is a Bare Trust? Firstly, what is a ‘trust’? Trusts became fashionable when King Henry VIII was on the throne. So much so that he attempted to reduce their tax benefits – without success. Here is an example of a ‘trust’. When your son is born you open a […]
10/02/2016

Son lost the farm to his sisters – Family Trust guilty

Dying Dad’s Family Trust had a farm (worth $2m) and two apartments (worth $2m each). Dad said ‘you girls get a $2m apartment each, the boy gets the $2m farm – it is all fair’. The girls said nothing. Upon Dad’s death all 3 of his children became the co-Appointors. […]
10/02/2016

Are Employment Contracts a waste of time?

The accounting house built Employment Contracts for each of their accountants. The accounting house didn’t waste time getting Employment Contracts for secretaries. Joanne joined the accounting firm as a secretary. She typed letters for the managing partner. She was instructed to send gifts to the client’s wives. She was obliged […]
12/01/2016

Crowdfunding kills brokers – accountants and advisers take over

Bypassing the stockbroker, mum and dads, aided by the adviser and accountants can directly invest in public businesses and start-ups. The Crowd-sourced Funding Bill issues in a new stream of business for advisers and accountants to help Australians invest via equity crowdfunding. However, the proposed legislation is too restrictive. Only […]
04/01/2016

Tax by Stealth

Tax by stealth – the shameful growth of the Australian tax system The Australian tax system has changed significantly since the end of the 19th century. The six colonies raised the bulk of their tax revenue from selective customs and excise duties. The original design of the tax systems of […]
14/12/2015

Legal Consolidated commits AUS$1m to Australian Start Up School