Last year laws were passed legislation and came into effect from 1 July 2016 that relate to property sales with a market value of $2 million or more. If a contract of sale is entered into on or after 1 July 2016, the vendor will now need to apply to the ATO for a clearance certificate. [...]
Personal guarantees have become a common part of many commercial transactions, often being provided by company directors and their spouses or relatives. However, in our experience, the extent of such guarantees are often misunderstood and can create unexpected consequences when businesses experience financial difficulty. In extreme circumstances, they can be the cause of relationship breakdowns [...]
