27th April 2017
Each month MSI publishes a selection of articles written by its AusNZ member firms highlighting important topical issues in the Australia & New Zealand region.
What do the changes to the 457 visa program mean for your employees and your business?
By Emma Swenson, Patterson Houen & Commins, Lawyers, Sydney.
On 18 April 2017, the government announced significant changes to the subclass 457 visa program and an overview of some of the key changes to the program is explained in this article.
Australia’s business-based 457 Visas Abolished
By David De Alwis & Genevieve Lakey, Aitken Partners, Lawyers, Melbourne.
The Prime Minister today indicated that the Federal Government will get rid of 457 visas. The purpose for which the subclass 457 visa was initially established was to prevent short term skill shortages in Australia. In more recent years it has been increasingly been used as an avenue to permanent residency in Australia.
Exclusion of a Trustee’s “Prudent Person” Duty
By Daniel Davey, Tucker & Cowen, Lawyers, Brisbane.
On 23 December 2016, Justice Edelman handed down his decision in Australian Securities and Investments Commission v Drake (No 2)  FCA 1552. One of the central issues in this decision was whether a trust deed could exclude the statutory “prudent person” duty contained in section 22 of the Trusts Act 1973 (Qld).
Who owns your IP?
By Genevieve Lakey, Aitken Partners, Lawyers, Melbourne.
Intellectual property can be one of the biggest assets of a business whether it be copyright in content, software or IT systems or the logo of the brand (note: A logo, if sufficiently artistic in design, will be covered by copyright). To appropriately protect such IP, it is critical that the business is clear on who owns the IP and that they have appropriate clauses in their contracts to ensure its protection.
What Lessors need to know about the Personal Properties Securities Act (PPSA)
By Lachlan Commins, Patterson Houen & Commins, Lawyers, Sydney.
Is your business regularly engaged in the business of leasing or hiring out goods, equipment or other items of personal property[i] which you own? If so, are you aware of the Personal Property Securities Act 2009 (Cth) (‘PPSA’ or ‘the Act’) and how it affects your business?
In Australia and New Zealand, the MSI membership comprises eight legal and seven accounting firms located in the key business centres of Adelaide, Auckland, Brisbane, Christchurch, Melbourne, Newcastle, Perth, Sydney and North Sydney.
Should you require assistance in Australia and New Zealand and to find out more about our law and accounting member firms in the region, please visit the MSI AusNZ website.
RT @haysmacintyre: We are delighted to announce the launch of our new dedicated haysmacintyre Professional Institutes and Membership Bodies…
That’s excellent news. All the best of luck for tonight. #TaxAwards2018 https://t.co/RQ7CPaToeC
RT @AW_MattOsbourne: The legendary Jim Thomas holding court at the @MSI_Global conference in #Milan #msimilan https://t.co/4207879CTD