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News & Knowledge

MSI Australia & New Zealand: February news-round up

1st March 2017

Each month MSI publishes a selection of articles written by ANZ MSI member firms highlighting important topical issues in the Australia & New Zealand region.

Two sides to the franchise story
By Mike Purcell, MSI Taylor, Accountants, Brisbane.

There are two sides to every story, and each side views events through their own filter, or perspective. It’s a similar situation with franchising. There are two sides to the franchise story, one from the perspective of the franchisor and the other from the perspective of the franchisee.

Family conflict – prevention better than cure
By Michael Woodward, Mackay Bailey, Accountants, Christchurch NZ.

One of the most challenging aspects of consulting to family business is where conflict exists between members in a family group. Conflict can arise in a number of relationships including conflicts between spouses, between parent and sibling and between siblings just to name a few.

Impacts of the Dotcom Extradition Hearing
By Peter Spring, Keegan Alexander, Lawyers, Auckland, New Zealand.

It is frequently said that the Internet has broken down borders and that globalisation is now a reality. The impacts of the World Wide Web are well illustrated in a major extradition case argued before the High Court at Auckland, New Zealand in August-September this year. The United States of America is seeking to extradite Kim Dotcom and three other executives of a cloud storage company known as Megaupload.

Understanding the building & construction industry security of payments legislation    
By Lachlan Commins, Patterson Houen & Commins, Lawyers, Sydney.

Legislation exists in each Australian state and territory which aims to keep the cashflow flowing along the length of the great Australian building and construction industry chain and helps ensure that any person who carries out construction work or supplies related goods and services under a construction contract gets paid. In NSW, the legislation is the Building and Construction Industry Security of Payments Act 1999 (“the Act”).

Division 7A: ‘Loaning’ money to business associates      
By Robert Moore, MSI Taylor, Accountants, Brisbane.

There is legislation to prevent companies from ‘loaning’ money to associates, known as Division 7A. Ensuring that your business is fully compliant with the various requirements of Division 7A legislation is vital. Being compliant not only involves ensuring that all minimum repayment requirements are met, but also having the correct documentation in place.

In Australia and New Zealand, the MSI membership comprises seven legal and seven accounting firms located in the key business centres of Adelaide, Auckland, Brisbane, Christchurch, Melbourne, Newcastle, Perth and 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 ANZ website