Canberra Calling: Federal Court Test Case on Personal Leave Accruals

On 21 August 2019 the Full Federal Court in a test case issued declarations in relation to the calculation of personal/carer’s leave under the Fair Work Act 2009 (FW Act). The decision of the Full Court of the Federal Court in Mondelez v AMWU [2019] FCAFC 138 (“Mondelez”) has wide ranging implications for employers and employees in respect of the accrual and payment of personal/carer’s leave entitlements under the FW Act. In the proceedings, Mondelez sought declarations in respect of the method of calculating personal/carer’s leave entitlements under section 96 of the FW Act. The Federal Minister for Small and Family Business, Workplace and Deregulation, intervened in the case and supported

Do you still need to have your accounts audited and lodged with ASIC?

Do you or your clients have SME businesses who annually prepare and lodge with ASIC audited financial reports? Going forward, they may not need to. This means cost savings and keeping financials private. Changes to the reporting and audit requirements for Pty Ltd companies under the Corporations Act 2001 (Cth) became effective on 1 July 2019, under the Corporations Amendment (Proprietary Company Thresholds) Regulations 2019. The revenue, asset and employee thresholds that determine whether a Pty Ltd company is considered “large” (and therefore subject to requirements to prepare and lodge an annual financial report, a director’s report and an auditor’s report with ASIC each financial year) ha

Modern Slavery laws : Are you ready? And is this heading in the right direction?

Ok, Australia’s Modern Slavery laws are here, and for businesses operating on a 30 June financial year end, the first reporting year will be 1 July 2019 to 30 June 2020 with your modern slavery statement due by 31 December 2020. But will compliance with these new laws by Australian businesses actually improve lives for modern slaves? Or, dare I say, make things worse? The answer seems to be a little more complicated than you would expect. The new Australian laws (discussed in our previous article, which are modelled off the pioneering modern slavery laws passed in the UK in 2015 and were sponsored by Theresa May before Brexit became all she lived and breathed), seem on their face to be an ex

Crackdown on Company Directors: Parliament Regains Traction on Reforms to Combat Illegal Phoenix Act

On 4 July 2019, the Government re-introduced a number of reforms into Federal Parliament under the Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 (the Proposed Legislation). The overall purpose of the Proposed Legislation is to further deter companies and their directors from engaging in “phoenix activity”, which is aimed to avoid creditors and to reduce instances of company abandonment by increasing the accountability of company directors. While the intention and public policy behind the Proposed Legislation certainly has merit, assuming it is eventually passed, the Proposed Legislation would introduce fairly severe consequences, particularly for company directors, that co

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