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Sladen Snippet - Charities: the importance of complying with regulatory obligations

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Sladen Snippet - Charities: the importance of complying with regulatory obligations

Charities have a number of ongoing reporting obligations, including the requirement to submit an Annual Information Statement (AIS) and annual financial report to the Australian Charities and Not-for-profits Commission (ACNC).

The reporting requirements depend on the size of the charity:

  • A small charity (which has annual revenue of less than $250,000) must submit an AIS and can choose to submit a financial report.
  • A medium charity (which has annual revenue of $250,000 or more, but less than $1 million) must submit an AIS and a financial report that is either reviewed or audited.
  • A large charity (which has annual revenue of $1 million or more) must submit an AIS and an audited financial report.

Insolvent trading and liability for shadow / de facto directors

Insolvent trading and liability for shadow / de facto directors

Overview

In the recent case of Featherstone v D J Hambleton as liquidator of Ashala Pty Ltd (Featherstone Case), the Queensland Court of Appeal considered the circumstances in which a shadow/de facto director may be caught under the insolvent trading provisions of the Corporations Act 2001. Section 588G of the Act deals with the liability of directors for insolvent trading by their company, which not only applies to directors, but also to any employee determined to be a ‘director’ of a company when the company incurs the debt.

A win for copyright owners – the Dallas Buyers Club

A win for copyright owners – the Dallas Buyers Club

In what has been hailed as a landmark decision, the Federal Court has ruled that a number of Australian internet service providers (ISPs) must hand over details of over 4,000 customers alleged to have illegally shared the film, Dallas Buyers Club. It is expected that they will now receive letters from Dallas Buyers Club requesting a settlement payment for copyright infringement.

While this is certainly a win for the rights holders, it is just one step in a process. It may also be a case of the bark being worse than the bite for Australian infringers.  Chief Executive of iinet, David Buckingham has described the decision as a ‘positive outcome’ which ensures that ‘customers will be treated fairly’.

The duty of company directors to avoid conflicts of interest: an illustrative case

The duty of company directors to avoid conflicts of interest: an illustrative case

Directors are required to act in the best interests of the company, and to fulfil this duty they must avoid conflicts between their own interests and the interests of the company. As a recent case illustrates, a failure to avoid perceived conflicts can lead to disputes with shareholders.

In the case of Hart Security Australia Pty Ltd v Boucousis & Ors, Hart Security Australia Pty Ltd’s (HSA) majority shareholders, the Hart Group, alleged that HSA’s sole director, Christian Boucousis breached his duty to avoid conflicts of interest.

SMSFs, trusts and property development: Part 2

SMSFs, trusts and property development: Part 2

In January 2015, the first part of a two-part article, written by Sladen Legal's Phil Broderick, was published in the Tax Institute’s Journal, Taxation in Australia. This article considered the tax and regulatory issues of SMSFs undertaking property development either directly or through structures such as trusts.

The second part of this article was published in Taxation in Australia in February 2015, examining various structures under which an SMSF can undertake property development, or invest in an entity which undertakes property development activities.

Moonlighting truck driver's dismissal unfair

Moonlighting truck driver's dismissal unfair

A delivery driver whose employment was terminated after he worked for his employer's customer during his annual leave, has been awarded $12,864 compensation after the Fair Work Commission found his dismissal was harsh, unjust and unreasonable.

Sladen Legal's Joanna Shields has written an article, published in the April edition of Prime Mover, which outlines the case of a moonlighting truck driver who was unfairly dismissed.