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Phang Legal
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It was only a matter of time. Remember when the ATO started to look at eBay businesses? The new economy creates many different avenues to earn an income and naturally the government wants a piece of it.

#tax #uber #arbnb
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We used to joke that instead of paying for stamp duty, clients could have bought a small car - now it's more like a luxury car. Sometimes the stamp duty is enough to buy another property. It's been a real easy run for the NSW Government.

In addition to stamp duty, the NSW Government also attempted to introduce other taxes and duties like (in 2004) the short-lived vendor's duty in the last days of Bob Carr as the NSW Premier. There was sufficient public backlash to both buyers and sellers paying duty that when Morris Iemma took over as NSW Premier about a year later (in 2005) he quickly abolished it.

In more recent times, state governments have introduced the purchaser surcharge duty for foreign buyers. This added another 4% of the purchase price in NSW, and this was quickly increased to the current 8%. Since this affects non-voters, perhaps there's less urgency around dealing with negative feedback. However, imposing such a high duty (both the existing stamp duty and the purchaser surcharge duty on top) on foreign buyers and investors has and will continue to have longer-lasting consequences for the property market, especially in the property development and new housing space.

So as buyers, we pay for 'absolutely nothing' and for the state government, does this mean they benefit for 'absolutely nothing'?

#property #realestate #stampduty #duty #purchasersurchargeduty #foreign #foreignbuyer #foreigninvestor
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Another struggling Aussie retailer? The worrying thing about this trend is that this is probably the end result of consistent poor results or performance. There would have been many warning signs along the way and opportunities to do something about it.

Of course, once you've built a business and reached some level of success (ie, like many of these major brands), it's challenging to even propose changing or doing something else or something different.

A few days ago we shared an article about K Mart removing CDs, DVDs and Blurays from their shelves. Do you think that was a difficult decision? They've been selling these items for the longest time. The subsequent poor results probably also didn't help either.

However, isn't it better to attempt something different rather than simply remain on a path that would inevitably lead to possible ruin? CDs, DVDs and Bluerays are old technology and soon to be obsolete in the same way as cassette tapes.

#australianbusinesses #australianbrands #australianretailers #retailers #bankruptcy #insolvency
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Auction clearance rates are not necessarily the only (or the best) indicator of the property market. There are many more properties that still sell through private treaty (even after the property has been passed in at auction). After the settlement, those sales prices will be recorded and still be used to assess market valuations at a later date.

#property #realestate #market #auctions
9 News Sydney
9 News Sydney
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Calling your boss fat is probably not a good thing to do. No.

Do you agree?

#unfairdismissal #fire #sack #workplace #fat
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What do you think of when you hear the name "Big Mac"?

Although McDonald's lost this case with the court finding that it didn't have a trade mark over the name "Big Mac".

This case arose from McDonald's attempt to block another fast-food chain, Supermac's, due to the similarity in that name with their claimed trade mark "Big Mac". It backfired. In a sense, certainly from Supermac's perspective, this was just a case of McDonald's attempting to bully them and prevent them from expanding - even though Supermac's never had a "Big Mac" product.

So what does this mean? Technically, this means that other businesses may be 'legally' entitled to use the name "Big Mac", but practically and commercially would this really make sense? Consumers know.

We think it would be pretty foolish to attempt to use the name "Big Mac" but certainly it makes it possible to use something similar with less fear that McDonald's will come crashing down on you.

#trademark #mcdonalds
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The #10yearchallenge reveals so much about us... more than what we intended or anticipated.

Whether you believe it is or can be used to data mine or test facial recognition algorithms or track you (at least for the last 10 years), the reality is that if you've done it then it's out there... you're out there.

But even if you are... can't you just accept it an embrace it?

#socialmedia #internetsecurity #privacy
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