Explain That by Velocity Legal

10B - Payroll Tax Investigations - What They Are and How They Work

In this episode, Andrew Henshaw and Rajan Verma dive into the process of a payroll tax investigation. They explain the typical timeline and procedures, starting with the initial letter from the state revenue office. This episode highlights the importance of early preparation and accurate record-keeping to minimise penalties. Rajan shares insights from his own experience, noting how state revenue offices often uncover issues through sophisticated data matching. Listeners learn how to respond when selected for an audit and the importance of considering voluntary disclosures to mitigate potential penalties.

10A - Introduction to Payroll Tax and Why it Matters

In this episode, the discussion revolves around the basics of payroll tax, a state tax that applies to wages paid by employers. Rajan Verma explains the scope of payroll tax, including what counts as taxable wages, the extension of payroll tax to contractors and the grouping rules. The hosts emphasise the rising attention on payroll tax compliance, driven by technological advancements and increasing audits.

9C - Resolving Business Partner Disputes in Court

The final episode delves into the legal remedies available when disputes escalate to the courtroom. It explains the processes involved in bringing shareholder oppression claims and claims around breach of directors' duties under the Corporations Act. Jessica Hill and Lauren Gross provide insights into the court's role in resolving disputes and the possible outcomes, including forced buyouts and winding up orders, through a detailed case study that demonstrates these legal principles in action.

9B - Resolving Business Partner Disputes without a Shareholders Agreement

In this episode, Jessica Hill and Lauren Gross explore the challenges and complexities of resolving disputes when there is no shareholders agreement in place. They highlight the difficulties of negotiating terms to reach an agreement and the potential for prolonged and costly legal battles. The discussion includes case studies that illustrate the importance of having a formal agreement to avoid having to negotiate an agreed resolution with a business partner when the relationship has soured.

9A - Resolving Business Partner Disputes with a Shareholders Agreement

This episode focuses on the mechanisms within shareholders agreements that help resolve co-ownership disputes. It discusses key provisions like decision-making thresholds, events of default, and forced buyout clauses. Jessica Hill and Lauren Gross explain how shareholders agreements provide leverage and trigger to pull if a dispute breaks out – supported by case studies to demonstrate how these clauses can be utilised to force a resolution.

8C - Proposed Reform of Individual Tax Residency

The final episode addresses the proposed reforms to the tax residency rules. It addresses the motivations behind reform, including the need for clarity and alignment with contemporary global mobility patterns. The episode discusses the model that has been proposed to replace the current rules and how it seeks to reflect the guiding principles of certainty, simplicity, and integrity. The episode critically evaluates the potential impact of proposed changes on individuals and the tax system, highlighting the balance needed between simplifying the residency rules and maintaining tax fairness in a globally connected world.

8B - Challenges for Taxpayers in Applying the Current Rules

Focusing on a recent AAT case, this episode highlights the practical challenges and uncertainties in applying the current tax residency rules. The AAT case involves an individual's dispute with the tax authorities over their residency status. The episode addresses the pivotal role factors such as family ties, property ownership and finances play in determining residency. It critically reflects on the broader implications of such cases in understanding residency rules and the potential for contentious interpretations.

8A - Current Individual Tax Residency Rules

This episode lays the foundational understanding of Australia's individual tax residency rules, dissecting their importance and the initial considerations for determining tax residency. It delves into the primary test of residency, highlighting the 'resides test' and its implications, and what constitutes an Australian tax resident. The episode addresses some of the difficulties with the current rules and the issues that arise in determining tax residency, setting the stage for a deeper exploration in subsequent episodes.

7C - Achieving Successful Outcomes

The concluding episode focuses on the value of a Heads of Agreement, potential enforceability issues of clawback provisions, drafting incentives and understanding make good requirements in relation to fit-outs. It highlights the benefits of agreeing to key commercial terms early to assist moving forward with more focused lease negotiations later, discusses the practical aspects of implementing fit-out incentives and considers relevant issues from both a landlord and tenant perspective for make good requirements of fit-outs at the expiry of a lease. By discussing the potential for disputes and the importance of reasonable lease terms, this episode offers valuable insights into fostering positive tenant-landlord relationships and ensuring successful retail commercial tenancies.

7B - Navigating Complexities

This episode explores the nuances of planning to enter into a new lease. It take a practical approach in considering initial due diligence and planning requirements, having a fit-out plan, negotiating lease incentives and other key terms of a lease, clawback provisions and stressing the importance of drafting clear and concise lease documents. It addresses the potential financial risks for tenants and landlords, illustrating the importance of negotiating agreeable terms and ensuring these are drafted to protect both parties' interests. The discussion also touches on the potential consequences for a tenant and landlord in ownership of the fit-out.