Explain That by Velocity Legal

Focusing on a recent AAT case, this episode highlights the practical challenges and uncertainties in applying the current tax residency rules. The AAT case involves an individual's dispute with the tax authorities over their residency status. The episode addresses the pivotal role factors such as family ties, property ownership and finances play in determining residency. It critically reflects on...

This episode lays the foundational understanding of Australia's individual tax residency rules, dissecting their importance and the initial considerations for determining tax residency. It delves into the primary test of residency, highlighting the 'resides test' and its implications, and what constitutes an Australian tax resident. The episode addresses some of the difficulties with the current r...

The concluding episode focuses on the value of a Heads of Agreement, potential enforceability issues of clawback provisions, drafting incentives and understanding make good requirements in relation to fit-outs. It highlights the benefits of agreeing to key commercial terms early to assist moving forward with more focused lease negotiations later, discusses the practical aspects of implementing fit...

This episode explores the nuances of planning to enter into a new lease. It take a practical approach in considering initial due diligence and planning requirements, having a fit-out plan, negotiating lease incentives and other key terms of a lease, clawback provisions and stressing the importance of drafting clear and concise lease documents. It addresses the potential financial risks for tenants...

The first episode lays the groundwork for understanding fit-outs in commercial leases, focusing on the importance of taking time to plan out any intended works and negotiating terms that benefit both tenants and landlords. It delves into premises due diligence, planning restrictions, approval processes for fit-out works, rental abatements, fit-out contributions, make good requirements and the crit...

The final episode looks at the emerging trends in the field of mergers and acquisitions, including more transactions with foreign investments and earn out mechanisms. It discusses what clients should think about if they are agreeing to a post settlement assistance period and when things don’t go so well after settlement.

In the second episode, the focus shifts to practical application through a case study of a furniture manufacturing share sale. This real-world example illustrates the complexities to consider when choosing a transaction structure – a better tax outcome is not the only consideration. The episode highlights the importance of due diligence at the outset and explains how lawyers draft and negotiate a...

The first episode lays the groundwork by distinguishing between share sales and business sales. It outlines the key legal differences and considerations for buyers and sellers when choosing a transaction structure such as tax and liabilities, and what to expect throughout the transaction.

The final episode delves into the practical issues with the current system of CGT rollovers. It addresses the complexities and challenges in navigating the various rollovers, including subdivisions 122-A, 122-B, 124-M, 124-N, Division 615 and the small business restructure rollover. This episode also discusses a proposal from the Board of Taxation to simplify these rollovers by amalgamating them i...

Focusing on a practical case study, this episode discusses a business owner named Jo, who faces challenges with her manufacturing business operated through a family trust. This real-life scenario exemplifies the need for restructuring and highlights the multiple ways in which a restructure can be achieved without triggering income taxes. This episode effectively demonstrates the complexities and c...

This episode lays the foundational understanding of business restructures, emphasising their importance in the contemporary business environment. The discussion revolves around various reasons for restructuring, including commercial needs, asset protection, and tax efficiencies. It provides a thorough exploration of how and why business owners might opt to change their business's legal structure,...

The final episode explores the broader implications of CIPT on the property market and stakeholders. It discusses how CIPT might influence property ownership and acquisition costs, rents, and the decision making of property developers and investors as well as their advisors. This includes an analysis on the expected impact of the new regime and explores how CIPT could reshape the overall property...

In this episode, the focus shifts to the practical examples of the application of the new CIPT law through two detailed case studies. The first case study examines a purchase of a commercial warehouse, how the CIPT regime will impact the property and discuss the possibility of obtaining government finance for that last stamp duty payment. The second case study delves into the ‘change-of-use’ duty...

This episode introduces CIPT and discusses the policy reasoning behind the implementation of CIPT. The discussion covers the types of property affected by the new law, how the annual tax is calculated, and other considerations such as ‘change-of-use’ duty. Listeners can gain an understanding of the key elements of CIPT, including exceptions to the new law, how CIPT is calculated, and how a propert...

The final episode examines the liability of employers in cases where new employees misuse confidential information. Through hypothetical scenarios, the hosts illustrate how new employers can inadvertently become entangled in legal disputes. They discuss strategies for proving misuse, such as subpoenas and discovery, highlighting the difficulty in drawing a line between lawful and unlawful use of c...

This episode dives into a case study which discusses the legal remedies available when confidential information is misused. The hosts discuss the complexities of proving misuse and the significance of immediate legal action. They outline the legal consequences under contract law, equity, and statutory duties, particularly focusing on sections 182 and 183 of the Corporations Act. The episode emphas...

The first episode introduces the concept of confidential information in the workplace, distinguishing between trade secrets and know-how. Jess Hill and Andrew Henshaw discuss the critical role of employment contracts in defining and protecting confidential information. They explore various legal frameworks, including contract law and equity, that address the misuse of such information. The episode...

The final episode shifts focus to the broader landscape of opportunities and challenges facing Australian startups. Andrew and Robert touch on legislative changes affecting startups and how these may impact them where they implement employee share schemes or seek early stage innovation company incentives. They also discuss some of the opportunities that may arise through international expansion by...

Delving into capital raising, this episode presents a case study of a technology startup seeking to raise $5 million. The discussion focuses on the key elements that startups need to consider as part of the capital raising process, including preparing for investment, identifying the right investors, and the legal requirements that must be complied with to secure funding. Andrew and Robert explain...

This episode introduces some of the key legal considerations for startups and founders. Robert and Andrew emphasise the importance of setting up an appropriate corporate structure, governance and decision-making, IP protection, contract management, and compliance. Some of the key discussion points include the significance and importance of shareholders' agreements, the critical issue of protecting...