News at Scanlan Carroll

Court will not stand for unfair contract terms any longer

As of November 2016, the Australian Consumer Law (ACL) was extended to provide that small businesses contracts can no longer contain unfair terms.

A contract term will be deemed unfair if:
•It would cause a significant imbalance to the parties’ rights and obligations under the contract;
•It is not necessary to protect the legitimate interests of a party; and
•It would cause detriment to a party if relied upon.

The ACCC are heavily pursuing companies who ignore the amendments to the ACL.

A well-known long running family business JJ Richards was too late in amending its contract terms and conditions to make them compliant with the ACL. The ACCC issued proceedings against them.

Purchasing a Property and Final Inspections!

It is a common misconception and a large unknown to many purchasers that prior to settling a property you are entitled to conduct a final inspection!

If you are approaching your settlement date, it is strongly encouraged that contact is made with the selling agent and a final inspection is arranged on your behalf.

Executors – Know Your Duties and Adhere to Them Carefully!

Your dad recently passed away and he appointed you in his will as his executor. You are deeply honoured to be entrusted with the role, but are you aware of your duties and obligations?

If you don’t understand and comply with your duties as an executor, you may face legal liability. Being an executor is an honour – and a responsibility. Do the right thing by your dad, and protect yourself from liability – understand your duties, and be aware of what can happen if you breach them.

I think my business partner is stealing from me….

Picture yourself working day in day out to build your dream company, with a loyal and trusted friend by your side as your business partner.

Now picture your business partner’s behaviour changing. It starts off small, taking a long lunch, leaving early or coming in late. But then money starts to disappear from the business bank account without explanation.

Important changes to Powers of Attorney – how do they impact you?

Many people form the view that they will be capable of looking after their own affairs until their demise. They ignore the need for a power of attorney or the importance of same. The laws have changed recently in relation to the form of the personal matters power of attorney and our team at Scanlan Carroll can explain the changes.

I’ve been left out of the Will…. What do I do now?

You’re one of three children to your mother, Kathy and your father, Robert. Robert passed away 5 years ago so it’s just been the 4 of you for a while now. Your two siblings have made your parents proud, one of your sisters is a nurse and the other one is an accountant at a big city firm and you’ve always been close to your parents in your own way.

You really have no idea what your parents have by way of assets or what their plans were in the event of their death. Before you even knew it, your mother passed away and you learn your two sisters are receiving the entire of her estate, leaving you with nothing.

Selling or buying a business? Seek the right advice to navigate the minefields.

Buying or selling a business is an exciting time, and sometimes enthusiasm can overshadow rational decision making which can be detrimental to the overall result.

The first step towards the resolution of parenting disputes

Sam and I have been married for 12 years and together we have 2 children aged 4 and 8. During the marriage we each performed the traditional husband and wife roles - Sam went to work and I stayed home to care for the children and the home. During the relationship there was frequent arguments that resolved only when I gave in and Sam got his way. We have now separated. At first the separation was amicable but now we cannot seem to make any decisions in relation to the children without a heated argument. Sam wants to have equal shared care of the children and I am frightened he will get it. What can I do?

Is an underperforming employee harming your business?

It’s the conversation no small business owner wants to have – how to deal with an underperforming employee.

The cost of retaining an underperforming employee is difficult to quantify as it could impact potentially each facet of your business from client relationships to bringing down the morale of your otherwise high-performing staff, and depends on the type of industry that you operate in.

Abolishing Stamp Duty for First Home Buyers

As of 1 July 2017, there will be no stamp duty payable for new or existing properties purchased by first home buyers (FHB) for properties under $600,000.00. There will be concession or discount applicable to purchases between $600,000.00-$750,000.00.

This allows FHB to use more of their savings towards their new home. It could be a saving of up to $15,000.00.