(02) 9555 1350
The overregulation is costing NSW businesses in the vicinity of $8.5 billion in compliance costs. A report on the website of NSW Business Chamber highlights the chief features of the Red Tape survey.
Red tape is responsible for the loss of 220 million work hours and is sheer plight for companies which have more than 200 staffs. It is such companies that are bearing maximum brunt; paying a mammoth $386,0000 due to local, state and federal regulations.
No surprise then that organisations feel they are being overregulated and that it is not a healthy fact.
You can read the original article here.
What’s your take on the fact- big businesses which provide high number of jobs (service to the nation) are being penalised even more?
Strata bylaws changes may turn out to be one really big legislative reform in the end. Among other things, like proposing smoking restrictions on ground floor balconies and easing pet movement, the strata bylaws changes have brought new ‘demolition’ guidelines on the table.
The Privacy Amendment Act 2012 (Cth) which came into effect in March aims at ensuring that private data of individuals are treated ethically by companies. Companies showing annual turnover in excess of $3 million will need to make their Privacy Policy fully accessible.
Are you an employee or an independent contractor? I ask this because the question can have a great impact on how payroll tax is levied. Let me take up a hypothetical freelance organisation ‘A’ to boot home my point.
If the government chooses to do away with the Stamp Duty tax that it levies on the first home buyers (FHBs), it will stand to lose in excess of $700 million. In dire need of alternatives, the government may have to look for some really congested lines to recover this shortfall. This is what we have always heard when the topic “should Stamp Duty be removed?” raises itself.
In absence of a precise legal meaning, the term Practical Completion has often invited disputes. To define as best as one possibly can, any construction project reaches its practical completion stage when all but the really trifle work is complete and the work so put is free from any patent defects (but the very minor ones).
For using a premise, a business may choose to enter into a lease agreement with the landlord. Based on the understanding of the lease and the terms set by it, the business calculates its monthly payable rent. While this is a fair agreement, what happens in case the structure of the premise is compromised by one or the other kind of damage? Is the business venture still expected to pay rent as usual? Of course not!
If there are 2 to 20 like-minded people looking at the prospect of a business venture and they do not want to float their own company, what are their alternatives? In my mind, the best solution may be to form a business partnership. This particular business structure comes with its own set of advantages and demerits but if conducted ethically, it can be quite a thing.
If business firms allocate Intellectual Property (IP) space on the asset side of their balance sheets then it has certainly got something going for it. It is wise not to talk about your IP unless you are doubly sure it is protected by a Patent or a Copyright, among other things.