Our lives are constantly being influenced by the decisions of others. The outcomes of the Federal and State budgets and the impact they have on our businesses should cause us to review our plans for the next twelve months and beyond.
As lawyers we are constantly advising clients about their rights and obligations in their relationships. These relationships arise when buying and selling assets; in changing family circumstances; when undertaking estate and succession planning, when disputes arise in the circumstances of a business or personal relationship including estate disputes. Your plans for the future need always to take into account your legal obligations.
When considering your future plans the following highlights of the NSW 15/16 budget may be relevant.
Some relevant highlights include:
Housing
Infrastructure and Tourism expenditure – means jobs in some sectors.
Employment and Small Business support
The commitment to infrastructure spending, tourism and the commitment to increase housing supply will see continued activity for the businesses directly involved in these sectors and for some businesses indirectly involved. Small business generally need to plan to determine whether they can take advantage of these budget announcements.
Planning for businesses include reviewing business structures, terms of trade, employment contracts and the business relationships between partners, directors and shareholders.