Latest Legal Blogs : business
Early Resolution of Defamation Disputes
The Defamation Act 2005 (Qld) governs defamation law in Queensland. One objective of the Act is to promote speedy and non-litigious methods of resolving disputes about the publication of defamatory material. Part 3 of the Act provides the mechanisms to achieve this objective. Relevantly, a person who has been defamed (“aggrieved person”) can issue a concerns notice to the publisher of the defamatory material (“publisher”). The concerns notice informs the publisher that the aggrieved person considers the material carries, or likely carries, defamatory imputations. The publisher then has 28 days to make an offer to make amends. An offer to make amends must include an offer to publish a reasonable correction and to pay the expenses reasonably incurred before the offer was made. It may also include an offer to publish an apology and an offer to pay compensation to the aggrieved person.
Division 7A Reforms
Division 7A loans Division 7A of the Income Tax Assessment Act 1936 (Cth) contains anti-avoidance measures designed to prevent private companies from making tax-free distributions of profits to shareholders or to their associates in the form of payments, loans or debts that are then subsequently forgiven by the company. Division 7A rules are complex, inflexible, and impose significant compliance costs on taxpayers, who may not be aware of the impact or operation of the rules. Reform by media Following the report completed by the Board of Taxation in late 2014, the Federal Government announced in both the 2016/2017 and 2018/2019 budget that reform to Division 7A would be completed. The much anticipated reforms to Division 7A are expected to be implemented from 1 July 2019. This date has not been extended at this stage. With no draft legislative amendments released by the Federal Government this is a situation of reform by media in which we must anticipate Division 7A reforms in readiness for 1 July 2019 based on media releases. This creates uncertainty in the impact that the reform may have on taxpayers, particularly those who may suffer cash flow consequences as a result of the loan repayment rule changes contemplated in the reform.
Staying on the right side of copyright law
Copyright law creates a balance between the rights of the owner and the public’s interest. This area of law is becoming more and more important and relevant in our modern world, with the ever-increasing emphasis on digitalisation and the many social media platforms available. The challenges that this modern digital world presents to copyright laws are far-reaching. Some of you may not realise that using images from Google or images taken by a third party without permission (a very common mistake) violates copyright laws. Fortunately, there are some ways your business can avoid violating copyright laws and we have discussed these below.
Be more demanding - creditor's statutory demands
What is a creditor’s statutory demand? Under section 459E of the Corporations Act 2001 (Cth), creditors who are owed more than $2,000 are allowed to serve a creditor’s statutory demand (“a statutory demand”) on a company. The statutory demand must be in the appropriate form (known as a form 509H), which may seem straightforward, but contains a few traps for the unwary. It must be accompanied by a supporting affidavit (unless you are pursuing a judgment debt) from or on behalf of the creditor to verify that the debt is due and owing, and that there is no dispute about the debt.
Debt Recovery 101
We’ve all been in the situation where we have purchased a product or entered into a contract for services and haven’t been satisfied by what was delivered. In a situation where you feel like there has been a wrong-doing or you are in a disagreement about money (in a supplier/ consumer or a debtor/ creditor situation), you may be wondering what legal options are available to you, and what are your prospects of recovering monies or getting the relief you think you deserve. Situations we, as lawyers, commonly see include (but are not limited to):- Unpaid invoices or accounts; Rent arrears; Work done or goods supplied without a firm and clear agreement about cost beforehand; Money loaned and not repaid; and Unpaid wages. More often than not there are two sides to every argument. For example: you say you are owed money for building works completed, your opponent says you did not perform the works to a reasonable standard. Our role as lawyers is to make a judgment about whether there is a genuine dispute and whether there are actual prospects of recovery. It is essential for lawyers to impartially weigh up the strengths and weaknesses of your argument about the dispute before providing you with advice and embarking on debt recovery proceedings. All talk about disputes aside, let’s talk about how you can avoid a dispute in the first place…