COVID-19 | JobMaker: How the Federal Budget Hiring Credit scheme works
The Federal Government has recently announced the introduction of the JobMaker Hiring Credit scheme, designed to give businesses incentives to employ younger, unemployed job seekers. The scheme is expected to support around 450,000 employment positions. As part of the 2020/2021 Federal Budget, the JobMaker scheme targets the creation of new jobs, as opposed to the […]
ReadmoreGadens Connect | 2020 Edition Four
This edition of Gadens Connect provides the first update from the new financial year for our clients in the financial services industry. COVID-19 has continued to impact business across Australia and we are continually working to support our clients where needed. We have seen our clients undertaking resumption activities with customers and preparing to deal […]
ReadmoreNew insolvency reforms to support small business recovery proposed to commence from 1 January 2021
The recently announced proposed insolvency reforms draw on key features from Chapter 11 of the Bankruptcy Code in the United States and aim to help more small businesses restructure and survive the economic impact of COVID-19. The reforms will cover around 76% of businesses subject to insolvencies today, 98% of whom have less than 20 […]
ReadmoreA Federal Budget with Paradox befitting a Pandemic
Gadens’ view of the Federal Budget 2020/21 The Government’s historic pandemic-era Budget is the most unashamedly pro-business budget in memory which also seeks to buttress employment from the headwinds of recession and technological change. In a seemingly counterintuitive outcome for a ‘pro-jobs’ strategy, the Budget’s tax depreciation policy change is poised to accelerate the inexorable […]
ReadmoreHealthEngine decision: understanding the overlap between privacy and consumer laws
We have seen a recent overseas trend by EU and US based competition regulators to address privacy related matters within a broader competition context. This is not something we have seen occurring in Australia to any great extent although the recent introduction of the Consumer Data Right has seen both the Office of the Australian […]
ReadmoreCOVID-19 | Commercial tenancy relief measures extended in Victoria
The long awaited COVID-19 Omnibus (Emergency Measures) (Commercial Leases and Licences) Miscellaneous Amendments Regulations 2020 (Vic) were released last night and will take effect from 29 September 2020. Which tenancies will the Commercial Tenancy Relief Scheme (CTRS) now apply to? The CTRS applies to ‘eligible leases’. The Amending Regulations have altered the definition of ‘eligible […]
ReadmoreSimplifying access to credit – a win for lenders!
As Australia continues to recover from the COVID-19 pandemic, the Morrison Government announced proposed changes to access credit. The proposed changes, outlined in the article below, seek to simplify the system between consumers and lenders, making access to credit easier for consumers and small businesses. Read the full article below. Our Banking & Finance team […]
ReadmoreConflicted remuneration – mortgage brokers’ tricky year ahead
The Federal Treasury has released the long-awaited regulations which will govern mortgage broker remuneration from 1 January 2021, the Financial Sector Reform (Hayne Royal Commission Response—Protecting Consumers) (Mortgage Brokers) Regulations 2020 (Regulations). It follows the release of the draft regulations and explanatory statement in August 2019. The Financial Sector Reform (Hayne Royal Commission Response – […]
ReadmoreSenate Select Committee on Fintech and Regulatory Tech publishes interim report
The need for permanent corporate law reforms for virtual company meetings and electronic communications and signatures by companies – Senate Select Committee inquiry on Financial Technology and Regulatory Technology interim report and recommendations. In September 2020, the Senate Select Committee inquiry on Financial Technology and Regulatory Technology (Committee) released its interim report. The preliminary recommendations […]
ReadmoreRetail Leases Amendment Act adds more pressure for landlords on top of COVID-19 changes
The Retail Leases Amendment Act 2019 (Vic) (Amendment) was passed by the Victorian Parliament on 15 September 2020. These changes are permanent amendments to the Retail Leases Act 2003 (Vic) (RLA) and are separate to the recent temporary changes made to Victorian legislation relating to the COVID-19 pandemic. These changes to the RLA will likely […]
ReadmoreCOVID-19 | Webinar | JobKeeper 2.0 and changes to the Fair Work Act – what you need to know
Last week, the Federal Government agreed a six month, $32 billion extension to the COVID-19 JobKeeper Scheme (see our full update here). Australian businesses have been hit hard by the pandemic, and the Scheme has helped many stay afloat since its introduction in March. In this webinar (hosted on Thursday, 10 September 2020), Brett Feltham […]
ReadmoreThe Singapore Convention Has Now Entered Into Force
Purpose One of the major roadblocks for parties contemplating mediation of cross-border commercial disputes has been the uncertainty, cost and/or delay in enforcing a breach of a term of mediated settlement agreement. This has often resulted in parties to a commercial cross-border dispute resorting to court/curial focused litigation or indeed foreign arbitral proceedings which are […]
Readmore
