Madison Marcus' experts are closely monitoring developments during the COVID-19 Crisis and how they will impact our clients. We have summarised the key legislative developments that have occurred this week, 23-27 March 2020.
National: 2:40pm 27 March 2020 - Confirmed cases: There are now 532,224 confirmed cases of Coronavirus (COVID-19) worldwide, with at least 3,050 confirmed cases in Australia. We will continue to provide advice as developments arise. 2:40pm 27 March 2020 – The Federal Government has announced an economic hibernation: Policies are being developed to help businesses emerge after the Coronavirus crisis without crippling debts. For more details click here. 6:34am 27 March 2020 – Australia backs $7.5 trillion plan to kickstart global economy: Australia and other G20 nations have committed to co-ordinate efforts to tackle the Coronavirus pandemic. To read more about the virtual summit, click here. NSW: 5:15am 27 March 2020 – NSW Government to unveil $750 million stimulus package: The package is aimed at retaining and creating jobs as well as sustaining NSW businesses. The money will contribute to employing 1,000 extra staff for Service NSW, energy accounts assistance, additional tax relief and deferred rental payments for small commercial business and money allocated to charities and Lifeline. Click here to read more.
On 1 March 2020, Victoria’s new Guardianship and Administration Act 2019 (Vic) came into operation, repealing and replacing the Guardianship and Administration Act 1986 (Vic).
Residential Tenancy laws govern the tenant’s renting experience, while contemporaneously ensuring that Landlords can effectively manage their properties. The changes effected, seek to circumvent disputes arising over repairs and maintenance, increase protection and certainty for tenants and to clarify the rights and obligations of tenant and landlord parties.
As the COVID-19 crisis continues to escalate across the country, family lawyers have been inundated with enquiries from co-parents with established custody arrangements about what they should be doing to protect their children from potential exposure to the COVID-19 virus without rocking the boat with the other parent.
In order to combat what would seem to be a quick snatch and grab at debts, the Federal Government has announced as part of its stimulus package, that it proposes to make temporary changes to Australia’s insolvency laws to seek to combat and/or alleviate the impact the COVID-19 outbreak continues to have on individuals, businesses and significantly, the economy.
The current climate threatens to wreak havoc with industry stakeholders - whether sole traders, sub-contractors, contractors, principals and head contractors, developers or investors.
How could the COVID-19 Crisis affect real estate in New South Wales? These unprecedented circumstances create many concerning and uncertain issues of which to be aware of.
Madison Marcus has received numerous enquiries with respect to intending travellers, bridging visas, bridging visa holders and temporary visa holders. From 9pm AEDT 20 March 2020, only Australian citizens, residents and immediate family members can travel to Australia. All travellers to Australia are required to self-isolate for 14 days, either at home or in a hotel. Our Immigration and Global Mobility experts have prepared a comprehensive guide to the new restrictions that will be in place from 9pm AEDT 20 March 2020 Travel restrictions are subject to change. Please check back regularly for updates from our Global Mobility & Immigration Law experts.
In the same way that we are all looking to solutions to keep our society protected, there are special measures that many businesses can take to ensure that they ultimately remain solvent. Madison Marcus’ Head of Restructuring and Insolvency, Gerard Breen, has examined the rapidly developing situation for businesses and what measures they can take to ensure that they survive this crisis before calling in the administrators