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As of 1 July 2024, a number of significant legal changes have come into effect in Australia, impacting various aspects of business operations. As experts in business and commercial law, specialising in franchising, we provide an overview of some of these changes, their implications, and actionable advice for businesses to ensure compliance and leverage new opportunities.
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BetaWage underpayment becomes a criminal offence Under changes to workplace laws, intentional underpayment of wages will be classified as a criminal offence. From 1 January 2025, employers will be in breach if they knowingly fail to pay wages, superannuation, or other entitlements required under the Fair Work Act or industrial agreements by the due date.
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BetaClosing Loopholes: Fair Work Act changes. 15 December 2023. There have been changes to the Fair Work Act as part of the new ‘Closing Loopholes’ laws. The changes take effect at various times across the next year and into 2025. The major workplace changes relate to: rules for labour hire workers; criminalising intentional wage underpayments
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BetaSmall business – $20,000 instant asset write-off. The Treasury Laws Amendment (Support for Small Business and Charities, and Other Measures) Act 2024 External Link provides a temporary increase to the instant asset write-off threshold to support small business entities (with an aggregated annual turnover of less than $10 million).
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Beta2. Director identification numbers An important new law has emerged for all company directors, so it’s time to get your legals in check. This new legal change, which came into effect on 1 November 2021, requires all company directors to apply for and hold a valid ‘Director Identification Number’.. A Director Identification Number or Director ID or DIN as it may be known is a 15-digit ...
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BetaThe Federal Government’s Fair Work Legislation Amendment (Secure Jobs, Better Pay) Bill 2022 passed parliament on 2 December 2022, after negotiations in the Senate. The new laws represent the most significant changes to Australia’s industrial relations system since the commencement of the Fair Work Act 2009 (Cth).While some employers will be affected more than others, the changes will have ...
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BetaRecent legislation changes. The Australian Government passes bills to update the Fair Work Act 2009 (Fair Work Act) and related legislation. New laws can have significant impacts across the workplace relations system. They can change rules and responsibilities for employers and employees. Some changes affect the work we (the Fair Work Ombudsman ...
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BetaBusinesses must comply close comply Meeting a set of standards or legislation. with government legislation close government legislation Laws made by the government., but this means that they incur ...
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BetaRead on: Get more information about this new law. Business Rates adjustment. Date of change: April 2025 What’s changing: Relief for retail, hospitality and leisure businesses will decrease from 75% to 40%, capped at £110,000 per business. Additionally, the standard multiplier — the figure used to calculate business rates — will increase ...
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BetaThe legal trends and changes anticipated in 2024 that business owners should be aware of include a rise in merger and acquisition activity, compliance, property law and changes to employee rights. 6 legal trends that affect business . Management buy-outs: A strategic opportunity
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