Companies formed after 1 July 1998 can have a simple set of rules known as “a Constitution” in place of what was previously called “Memorandum and Articles of Association”.
If a proprietary company does not adopt a Constitution, they will be automatically governed by the Replaceable Rules as outlined in the Corporations Act 2001.
Most companies have a Constitution which is drawn up prior to the registration of the company. The Constitution has the effect of a contract between:
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- the company and each shareholder;
- the company and each director;
- the company and the company’s secretary;
- a shareholder and each other shareholder.
If you are beginning a new job, you should ensure that your relationship with the business hiring you is clearly defined.
If you work for a business under a contract of employment in return for regular pay, you will generally be classified as an “employee”. Employees are provided with the safety net of minimum terms and conditions of employment under the National Employment Standard (NES), which include annual & personal leave, parental leave, a right to request flexible working arrangements, a standard working week of 38 hours, public holiday entitlements and notice of termination.
Independent contractors, on the other hand, are generally not entitled to the benefits under the NES.… Read More
Whether you are buying your first home, or relocating, purchasing property can be daunting. If you are considering buying at auction then the experience can seem all the more confronting. The experience need not be a daunting one as long as do your homework. To assist you, the following information may provide some guidance as to what to expect and how best to prepare for the big day.
An auction provides the venue through which buyers and sellers come together to permit interested buyers to make bids on property they wish to purchase. If you are the successful bidder at an auction, you will be required to sign the Contract and pay your deposit then and there. … Read More
Whilst Australia prides itself on being a multicultural society and being accepting of the values of all cultures, the Courts have recognised that some practices may not always be in the best interests of children.
In a decision in late 2010, the Family Court of Australia restrained a 14 year old girl from leaving Australia, thus saving her from an arranged marriage to a 17 year old man she had never met. The Department of Human Services was alerted to the problem when the girl stopped attending school. After interviewing her, the Department was of the view that the girl did not appear to understand the consequences of marriage.… Read More
In a recent full Federal Court decision, a New South Wales property developer purchased a single story house, intending to develop it into units for use other than for residential accommodation. At the time of settlement the home was occupied by a tenant. The developer adopted the view that the sale was a taxable supply because it was his intention to develop the land into commercial units and consequently claimed a tax credit from the ATO.
The ATO took a different view.
The GST legislation provides that the supply of property is not subject to GST if the premises are to be used predominantly for residential accommodation.… Read More
In previous articles we looked at Business Name and Trade Mark registration.
With online business becoming more important everyday, more and more businesses are looking to also register domain names that are capable of being easily identified with their business.
A domain name is simply a textual address for a location on the internet. An internet address with “.au” at the end, indicates that it is registered in Australia and part of the .au domain space regulated by the Australian Domain Name Administrator (commonly referred to as the “auDA”).
Once you’ve chosen the domain name you want to use, registration is through one of the organisations accredited by auDA for that purpose.… Read More