A partnership is a business structure involving more than 2 people who distribute income or losses between themselves. There are three main types of partnerships – (1) general partnership (2) limited partnership (3) incorporated limited partnership. Partnerships (2) and (3) can only be formed by registering the entity, while partnership type (1) can be implied [...]
When your company is served with court documents commencing a legal proceeding, your company will have to take certain steps within stipulated timelines. These are crucial steps, the failure of which will have swift negative consequences. These administrative steps include informing the Court that you are disputing the claim, and filing a statement setting out [...]
‘If I should slip something into your pocket, what’s the harm?’ Well, apparently a lot. Corporate crime costs Australia an estimated $8.5 billion annually, as Attorney-General George Brandis told parliament last week. Parliament has tabled a new bill designed to redress the corporate crime of foreign bribery. The proposed changes include the [...]
Thinking of starting a business? One of the first administrative steps is to decide upon your business structure. The business structure you choose will impact upon your startup costs, how much tax you pay, your personal liability, your control over the business and ongoing administrative expenses. Start on the right foot by seeking legal advice. [...]
