Are you up-to-date with your Estate Planning?

By Owen Ratner

It is easy to overlook the need for regular reviews of your estate planning needs, including your will.  To assist you, please consider the following issues. Wills should be reviewed when any major event occurs in your life such as marriage (in most cases marriages revokes an earlier will), divorce, children, grandchildren, or a new

A closer look at discretionary testamentary trusts

By Owen Ratner

A testamentary trust is created by a will, and occasioned upon the death of the will maker. It can take the form of a discretionary or fixed trust. A discretionary trust is one where the trustee has discretion as to which one (or more) of the named beneficiaries will share in the annual income of

Members rights to financial records

By Bruce Gotterson

The following Article is from Bruce Gotterson’s regular article in Club Life Members rights to financial records If you ask people in the Club Industry whether a member can access and look at the financial records of the Club you will get as many saying yes as saying no. So what is the answer? The

Personal Properties Securities Act

By Allan McDougall

By Allan McDougall September 27, 2011 Background The commencement date for the Commonwealth Government’s long-awaited Personal Property Securities Act (PPSA) has now been pushed back to 30 January 2012.  However, because of the dramatic and far-reaching changes the PPSA will introduce it very much remains timely and appropriate for business people to inform themselves of

Update on tax and corporations law

By Tony Salier

By Tony Salier August 31, 2010 A recent judicial decision and an amendment to the Corporations Act have significant implications for trustees and shareholders respectively. Bankworth Olive Grove –v- DCT (2010) QCA 80 and its effect upon trustees. In Bankworth Olive Grove –v- DCT (2010) QCA 80, the Queensland Court of Appeal held that the

High Court Rules on Bank Fees

By Allan McDougall

There has been much media attention on a recent decision of the High Court of Australia: Andrews v Australian & New Zealand Banking Group Limited

‘Equity Bias’ and the Prudent Trustee

By Allan McDougall

Over the past few years a falling stock market together with increased volatility in financial assets generally have brought the investment strategies of Australian superannuation fund trustees into particular focus.  This is not just because a portion of employees’ wage and salary incomes must by law be diverted away from present day consumption into long

The Hiring of Mining Equipment Under the PPSA

By Allan McDougall

One of the many industries that the Personal Property Securities Act (PPSA) impacts upon is equipment hire, specifically hirings to the mining industry. Such hirings usually comprise lease, chattel mortgage or term purchase contracts involving multi-million dollar “big-ticket” trucks and diggers, colloquially known as “yellow goods”. These goods constitute serial numbered property under the PPSA. 

Are you Being Served… a Subpoena?

By Chris Sydes

Clubs are frequently served with subpoenas by courts and tribunals requiring the production of documents in proceedings in which the club is not a party. This article provides an overview of the steps which a club should take when served with a subpoena. Types of Subpoenas There are usually three types of subpoenas which are

What is Mediation?

By Luma Sherif

What is mediation? Mediation is a form of dispute resolution whereby the parties attempt to negotiate a settlement of their dispute with the assistance of an independent person called a mediator. The mediator will often have a background in law.  Mediation can either be employed as an alternative to litigation or as a means of

Is your head in the sand? Understanding legal & financial risk

By Bruce Gotterson

CDI’s latest round of seminars, Legal & Financial Risk Management, explores a range of topical issues currently affecting club directors. Packed with essential information to help navigate yourself successfully around the boardroom table, don’t delay in securing your place today. The buoyancy of the current market, combined with changing dynamics for the hospitality sector, make

The PPSA and Interests in Land

By Allan McDougall

Landlords and tenants would be forgiven for thinking they need not worry about the new Personal Property Securities Act 2009 (PPSA), which commenced on 30 January 2012.  After all, the new law refers to personal property, not land, so there should be no problem. However the PPSA has implications for real estate as well. In