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Legal Considerations

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Conducting a Discretionary Trust
A Discretionary Trust is not a separate legal entity in the same way as an individual or a company, rather it is a relationship which exists whereby a Trustee is compelled to hold property for the benefit of Beneficiaries. Here we outline the duties of the Trustee, how income and capital is distributed and other issues to consider when entering into the Discretionary Trust structure of business....More
 
The Pros and Cons of Trusts
A discussion on the basic definition of the trust structure of business and its advantages and disadvantages. For your convenience, we’ve included links to relevant business services and suppliers in our business directory who can help you along the way....More
 
Understanding Partnerships
Partners are joint owners of a business. They have the same goals and are equally responsible for the decisions made on behalf of the business. Here we answer other questions asked about the partnership structure of business....More
 
The Basics of Due Diligence
Why due diligence is crucial when purchasing a business....More
 
The Most Important OHS Due Diligence Tool
Managing workplace safety is all about identifying hazards, assessing risk, eliminating or controlling that risk and making sure any controls implemented are effective. A Risk Management Register documents these processes and here we discuss why having one is the most important OHS due diligence tool in small business....More
 
The Sole Trader
In a sole trader structure of business, the business decisions are being made by one person. Of course, it doesn't necessarily mean that the business has only one worker. The sole trader can employ others to do any or all of the work in the business. Here we discuss the advantages and disadvantages of the sole trader business structure....More
 
Buying a Business
This factsheet outlines important considerations when buying a business. Topics covered include getting expert advice, issues that lawyers can provide assistance on and questions to ask the seller of the business. For your convenience, we’ve included links to relevant business services and suppliers in our business directory who can help you get your business up and running....More
 
Conducting a Hybrid Trust
A Trust is not a separate legal entity in the same way as an individual or a company, rather it is a relationship which exists whereby a Trustee is compelled to hold property for the benefit of Beneficiaries or Unitholders. Here we discuss the Hybrid Trust structure of business with topics including duties of Trustees, distribution of income and capital and Capital Gains Tax considerations....More
 
Conducting a Unit Trust
A Unit Trust is not a separate legal entity in the same way as an individual or a company, rather it is a relationship which exists whereby a Trustee is compelled to hold property for the benefit of Beneficiaries or Unitholders. Here we outline the Unit Trust structure of business with topics including the duties of Trustees, how income is distributed, Capital Gains Tax and how to wind up a Unit Trust....More
 
Important Business Obligations
This factsheet outlines important obligations new businesses must take into account. Topics covered include duties of company directors, implied conditions and warranties in relation to goods and services, unfair trading, negligence, health and safety and discrimination. For your convenience, we’ve included links to relevant business services and suppliers in our business directory who can help you....More
 

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