Monthly Archives: May 2014

On 23 May 2014, the Commonwealth Department of Treasury released a consultation paper outlining proposals to extend unfair contract term protections to small businesses. The proposal to extend unfair contract protection to small business is not unexpected. It implements a key part of the Liberal Party’s election policy, which was described in its “Our Plan: Real Solutions for Real Australians” policy document

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Last week, the Government introduced the Building and Construction Industry Payments Amendment Bill into Parliament. The introduction of the Bill eases much of the conjecture which has existed in the Queensland building and construction industry since the Government first announced the scope of the reforms earlier this year.

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Welcome to Shifting Geer, Thomson Geer’s superannuation newsletter for the period 28 April 2014 - 23 May 2014.

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A new solar power plant to be developed by our client, First Solar, is being heralded as the solar power industry’s world’s first major venture with a mining major.

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In the Federal Budget 2014-15, the Government announced a number of measures that affect not-for profit (NFP) tax concessions.

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The High Court has confirmed that where it is claimed that a payment was made by mistake the defence of change of position will still apply where it would be inequitable to order the return of the payment because of a change in circumstances of the payee.

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Overdue simplification of the sale of residential property in Queensland is coming, with the passing of the Property Occupations Bill 2013 in Parliament on Tuesday 6 May 2014. The new legislation is to commence on a date to be proclaimed, anticipated to be late in Q3 2014. The Bill will establish a simplified regime which will free-up the residential property sale process.

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A recent Superannuation Complaints Tribunal (SCT) determination and some comments made in a recent superannuation discussion forum identify certain issues that superannuation fund trustees and their insurers may wish to consider in order to reduce any exposures to the threat of complaint by members to the SCT or determinations setting aside trustee decisions.

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On 7 May 2014, the High Court handed down its eagerly anticipated decision on the scope of the liquidator’s equitable lien in Stewart v Atco Controls Pty Ltd (In Liquidation) [2014] HCA 15. The seminal case in this area is Re Universal Distributing Co Ltd (In Liq) (1933) 48 CLR 171, where Dixon J concluded that a secured creditor may not have the benefit of a fund created by a liquidator’s efforts in the winding up, without the liquidator’s costs and expenses of creating that fund being first met. To that end, equity would create a charge over the fund in priority to that of the secured creditor.

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The Brisbane office of Thomson Geer has advised Hong Kong based fund manager, Pacific Alliance Group, on the sale of leading WA beef producer, Harvey Beef, to Andrew 'Twiggy' Forrest's Minderoo Group in a deal worth over A$40 million.

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