KKI has extensive experience advising clients within the motorsport industry, and we're no strangers to the burst of activity which happens at this time of year.
We act for manufacturers, suppliers, managers, sponsors and race track owners, as well as for a number of leading race drivers and motor racing teams bother here, in Europe and in the United states. Our clients participate in a range of race series, including V8 Supercars, Porsche Carrera Cup and Australian GT here in Australia, sports cars and open wheel categories in Europe, and the Indycar series in the US. Despite the differences in the international competitions, the one thing all race series have in common is that around this time of the year, driver contracts are reviewed against performance, renewals are discussed and drivers who might be coming out of contract may look to shift teams. Read more.
Cryptocurrency, such as Bitcoin and Ethereum, is becoming a lucrative asset. As the value of some cryptocurrency keeps skyrocketing, this creates a number of issues, especially with your estate planning. What do you need to consider with your estate planning when you have cryptocurrency? Read more.
Calling all vendors - are you ready for the new GST withholding regime? From 1 July 2018, GST will be collected at settlement of new residential premises and new subdivisions. The regime will apply to all contracts of sale for new residential premises and new subdivisions entered on and from 1 July 2018 and to contracts for new residential premises and new subdivisions entered into prior to 1 July 2018 but settling after 1 July 2020. All off the plan contracts of sale must be updated to address the new withholding regime. Read more.
If you receive a subpoena to produce documents, you must comply with it promptly, whilst taking care not to provide documents outside its scope or that are privileged. Compliance can be a time-consuming and expensive exercise, but it is important to respond or comply promptly to avoid being held in contempt. Read more.
The laws around parallel imports are currently before Parliament for consideration and are likely to change. A parallel import is a genuine branded product (not a counterfeit), which has been manufactured and branded for sale overseas, but instead has been imported into Australia outside of the manufacturer’s approved distribution channels. It has been government policy for over 20 years to allow parallel imports in order to allow competition against the holders of Australian distributorships for those brands. Read more.
This post might seem strange coming from a Lawyer who predominantly works for Property Developers. But the days of one sided off-the-plan contracts of sale are over, or if they aren’t, they should be.
With the market moving towards satisfying down-sizers who are starting to accept that they will buy their next home off the plan, and that they’ll be paying somewhere between $1M and $20M, contracts of sale should be more respectful of the purchaser and their expectations. Read more.
Does your real estate agency rely on standard forms? A timely reminder to check whether the authorities you use in your business are putting your commissions at risk. Read more.
Remember high-flying deputy mayor of Auburn, Salim Mehajer, who shut down a whole street for his lavish million dollar wedding in 2015? Far from his usual life of luxury, Mr Mehajer spent this weekend behind bars after breaching his bail conditions. If you’ve been served with a Bankruptcy Notice and want to avoid bankruptcy, deal with it immediately. Once a bankruptcy order has been made, it can’t be stayed or stopped. Read more.
The chain of responsibility (CoR) laws which will come into effect on 1 July 2018 aim to ensure that everyone involved in the supply chain is responsible for compliance with the Heavy Vehicle National Law. Employers and customers involved in the supply chain logistics will be held accountable for dangerous work schedules, which are known to be a major cause of fatigue. Read more.
It's hard enough in business at the best of times. When you don't get paid, it just gets worse. There are some very simple and effective things you can do to increase your chances of getting paid. Read more.
Are you a beneficiary of a Will with a professional acting as executor? Or are you a professional acting as an executor? Many testators appoint professionals such as lawyers or accountants to be executors under their Wills. Usually, these professionals either charge a fee or receive a commission for acting in that role. On 1 November 2017 new laws were introduced regarding professionals as executors. Click here to read more about the changes.
There have been recent changes in Victoria concerning Enduring Powers of Attorney (Medical Treatment). If you'd like to put something in place for people to make decisions about your medical care when you can't, or review what you currently have in place, contact us. Click here for the full article.
The Fair Work Amendment (Protecting Vulnerable Workers) Act 2017 and recent Federal Court decisions highlight the importance of employers meeting their obligations to employees.
What are your obligations as an employer? Click here for the full article.
Mandatory data breach notification ....
are you ready?
From 23 February 2018, certain businesses will have mandatory reporting obligations in the event of an ‘eligible data breach’, and will be required to notify the Australian Information Commissioner and any impacted individuals.
All businesses with an annual turnover of over $3million are required to comply with the Privacy Act generally, including in respect of the new mandatory notification provisions. Some smaller organisations are also required to comply, for example, if they contract to any Commonwealth government agency or handle health data.
Not such a bright idea....
Recently, the ACCC announced that energy retailer, Lumo Energy Australia Pty Ltd (Lumo), paid a penalty of $10,800 in response to allegations by the ACCC that Lumo made false or misleading representations with respect to the price of its retail gas tariff. Click here for the full article
Kalus Kenny Intelex involved in landmark decision
Jennifer Rozea, Partner in the litigation team recently won a landmark property case in the Victorian Court of Appeal.
The case highlighted the potential trap of mistaking comparative phrases like, “vendor’s agent” and “real estate agent” under a contract of sale. It is a lesson for purchasers and vendors alike, to make sure that their understanding of the contract is what is in fact drafted.
As a result of this case, there is a Bill before Parliament which amends the Sale of Land Act. Read full article here
Pink Ribbon Morning Tea
On 28 November 2016 the firm's Conveyancing team hosted a Pink Ribbon Morning Tea to donate all monies raised to the National Breast Cancer Foundation, in support of everyone who has been faced with the battle of cancer. The staff embraced not only the treats provided but were also very generous in their donations. The partners kindly matched $1 for $1 to increase the overall donation.
Henry for the win
Property Partner Henry Kalus is a very happy man after his horse Stratum Star won the Magic Millions Cup on the Gold Coast on Saturday 14 January 2017.
Henry and the other part owners celebrated in style over the weekend.
Since January 2014, Kalus Kenny Intelex have been proud Corporate sponsors of the Lighthouse Foundation.
The Lighthouse Foundation provides homeless young people from backgrounds of long-term neglect and abuse, with a home, a sense of family, and around-the-clock therapeutic care that is individually tailored and proven to work.
For over 25 years Lighthouse has successfully supported over 800 young people to break the cycle of homelessness, move into employment and educational opportunities and overcome damaging life experiences.