BLB News

NEW FAMILY PROVISION LAWS ON THE WAY!

24/09/2008

The Succession Amendments (Family Provision) Bill was introduced to Parliament in June this year. The Bill will amend the laws in New South Wales that ensure that adequate provision is made for members of the family of the deceased person and other persons living in a close personal relationship with the deceased at the time of death.

BEWARE OF COPYRIGHT INFRINGEMENT WHEN USING IMAGES FROM WEBSITES

24/09/2008

We recently advised one of our clients in relation to a letter of demand from a US company for infringement of copyright. The client had no idea the image that he reproduced in his own website was copyright protected and though the image was taken down soon after the letter of demand was received, our client still faced a very large penalty fee.

Share Transfer Procedures

18/08/2008

Shareholders of small and medium size companies need to stay alert to the procedures and requirements which must be followed when they want to transfer or sell their shares. Failure to follow the necessary procedures – whether such procedures are required because of the Corporations Act, the company’s constitution or an applicable shareholders agreement – can cause a misguided shareholder considerable grief and lead to disputes between shareholders.

Speed Kills When Acquiring a Client Base

18/08/2008

As a frequent adviser to buyers and sellers of financial planning and accounting practices we are often asked to assist with the negotiation of the contract for sale. One issue stands above all others in such agreements and that is how and how quickly the seller will be able to transfer their client base to the buyer.

SMSFs represent 25% of total super assets

18/08/2008

Latest figures indicate that about 25% of total super assets are held in SMSFs. Approximately $300b is held in SMSFs while the total Australian super assets are about $1.2 trillion.