Tag Archives: company

Employee or Contractor?

Are you hiring an employee or a contractor? This is an important question often overlooked by business owners. What is the difference between an employee and a contractor? The difference between an employee and an independent contractor is based on many different factors. No single factor determines whether someone is an employee...

Director duties

There are numerous and important legal responsibilities imposed on directors of companies under the Corporations Act 2001 and other laws, including the general law. Of these director duties, some of the most significant are contained in Chapter 2D of the Corporations Act: to exercise the degree of care and diligence that a reasonable person might be...

Buy/Sell Deeds explained

WHY HAVE A BUY/SELL DEED? A Buy/Sell Deed is an agreement between the owners of a company or unit trust that upon the death or permanent disablement of a director or key person associated with a shareholder/unitholder, that shareholder/unitholder must transfer its shares to the remaining shareholders in exchange for...

Do you have a shareholders agreement?

CONSIDER THESE COMMON ISSUES What would happen to your company if you or your business partner became so ill that one of you could no longer work – or worse still, died? Would you still be paying dividends or making distributions of profit to that person even through he or...

Starting a new business

Before starting a new business, the first thing that you need to consider is the structure of the entity to operate the business. There are numerous options to choose from, such as: sole trader; partnership; company; and unit trust. This is when it can pay to get good accounting/taxation, financial planning and...