How important is my lease?
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February, 2009
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The location of a business is often vital to
its success and it is important to ensure that
your lease is well-drafted so that you do not
have to move or change some important aspect of
your business. For some small businesses,
the lease may be that business’ greatest
financial liability and it is important to
ensure that its terms are appropriate to your
circumstances. Before signing a lease, it
is important to obtain a copy of the proposed
lease and review it with your solicitor so that
you understand the effect of each clause.
In New South Wales, your occupancy may be
subject to the Retail Leases Act 1994 and the
conditions under which you occupy the premises
must be contained in the lease you sign.
The lease should allow you to make any
alterations necessary to your business.
Leases ordinarily describe the only business
permitted on the property and these clauses are
often interpreted strictly. This could
restrict diversification of your business or
make it difficult for you to sell your
business. If the business is in a
shopping centre, it is a good idea to have a
clause restricting other businesses which may
compete with yours. You should also be
mindful of any conditions which relate to hours
of access or carrying on business.
Leases commonly require the tenant to
maintain the premises and fittings in good
repair, and many also require tenants to pay
all or a proportion of the costs of rates and
maintenance. This provision should be
clearly stated in the lease.
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FAQ Archive:
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What is a taxable sale and when can I claim an
input tax credit?
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January, 2009
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The GST is a 10% tax on the sale or supply
of most goods, services, or other items sold or
consumed in Australia.
If a business is not registered for GST,
that business cannot include GST within the
price of anything it sells or provides, and it
cannot claim back (as input tax credits) any
GST it has paid for goods or services used in
the business....
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What is acceptable business conduct?
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November, 2008
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Australia has comprehensive legislation
governing fair trading. The primary piece
of legislation is the Trade Practices Act 1974
(Cth)....
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What is passing off?
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October, 2008
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The tort of passing off applies where there
is a representation that a person’s goods or
services are those of someone else. To
establish passing off, the plaintiff must prove
a misrepresentation made by a trader in the
course of trade to prospective customers or
consumers that is intended to injure the
plaintiff's business or goodwill and that
caused actual damage to the
plaintiff....
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What is a trademark?
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September, 2008
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A trademark can be a letter, number, word,
phrase, sound, smell, shape, logo, picture,
aspect of packaging or any combination of
these....
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How do I wind up a solvent company?
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August, 2008
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Members of a solvent company may decide to
wind-up a solvent company pursuant to the
Corporations Act 2001 (Cth).
Alternatively, a decision may be made to
deregister the company....
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What are the advantages and disadvantages of
bankruptcy?
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July, 2008
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Bankruptcy law in Australia is regulated by
the Bankruptcy Act 1966 (Cth). Bankruptcy
involves a legal declaration that a person
(including a corporation) is insolvent and
removes that person from control over their
financial affairs....
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How do I dismiss employees?
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June, 2008
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The employment relationship is contractual
in nature and can be terminated in the usual
ways. Generally, the employer or employee
must give notice of termination....
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What type of business structure is the right
one for me?
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May, 2008
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There are several types of business
structures, each with its own legal, accounting
and tax requirements. The type of
business structure determines many things,
including how tax is paid and how profits are
disbursed....
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How do I set up a franchise?
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April, 2008
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Franchising is a type of business ownership
which allows an individual, partnership or
company to operate an independent business
under the banner of a business that is already
established....
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Can I monitor my employees email?
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March, 2008
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As of October 2005, the New South
Wales Workplace Surveillance Act
2005 came into force. Under this Act,
employers do not have unrestricted rights to
monitor the computers, and therefore emails, of
employees....
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