Monthly Archives: February 2013

The Retail and Commercial Leases Act 1995 (SA) (Act) only applies to most commercial and retail leases in South Australia. The rent payable under the lease is relevant when determining whether or not the Act applies. The Full Court of the Supreme Court of South Australia in WST Pty Ltd v GRE Pty Ltd has given guidance on how to apply the Act as the rent payable increases during the term of the lease.

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Who is a beneficiary of a discretionary trust for income tax purposes? The Federal Court answered this question in the recent decision in Yazbek v Commissioner of Taxation. The case centred on whether the Commissioner was out of time in issuing an amended assessment to the taxpayer. Under the relevant provisions of the Income Tax Assessment Act 1936, the Commissioner would not be out of time if the taxpayer was a beneficiary of a trust estate at any time during the year in question. The Court held that the taxpayer was a beneficiary, despite the fact that he had not been made presently entitled to any income of the trust.

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The Australian Government has asked the Productivity Commission to undertake a review of major project development assessment and approvals processes. The review emanates from a discussion paper prepared by the Business Council of Australia last year which observed that inefficient and duplicative legal regimes are imposing an unnecessary burden on major project development within Australia.

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Thomsons has advised Domino's Pizza Enterprises Limited (ASX:DMP) on an agreement to acquire 15 stores in New South Wales and the Australian Capital Territory, currently owned by an existing franchisee, in a $13.8 million cash and scrip deal.

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In an industry leading move, Thomsons has created a sophisticated, specialised full commercial law service dedicated to the gaming and leisure industry across Australia and the Asia Pacific region.

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Thomsons has acted for the Australian Competition and Consumer Commission (ACCC) in its prosecution of The Jewellery Group Pty Ltd in relation to alleged false and misleading representations in a number of product catalogues (including one flyer) published from 2008 to 2010.

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The Building Code 2013 commenced on 1 February 2013, replacing the Australian Government Implementation Guidelines for the National Code of Practice for the Construction Industry 2009 and introducing new rules for contractors negotiating enterprise agreements with unions in the contract building sector.

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Thomsons has acted for EMC Metals Corp (TSX:EMC) on an out of court settlement to its dispute with Jervois Mining Limited (ASX:JRV) in relation to the Nyngan Scandium project in NSW, Australia.

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The Australian Treasury has released a consultation paper on Development of Governance Standards for the not-for-profit (NFP) sector. The government is calling for submissions by 15 February 2013 with an aim to have the final standards in place before 1 July 2013 under regulations to be made pursuant to the Australian Charities and Not-for-profits Commission Act 2012 (ACNC Act).

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Thomsons Lawyers has acted for Titan Energy Services Limited (ASX:TTN) on the acquisition and funding of Hofco Oil Field Services for approximately $21.7 million on a cash and debt free basis.

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