107 – Monthly Legal Updater July 2018

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In Show 107 – Monthly Legal Updater July 2018 originally broadcast on Facebook Live on Friday 6 July 2018 2018 we go through the changes to the law from the last month.

Show Notes

On the Monthly Legal Updater this week we look at the budget changes that will come into effect in July and August.

Comprehensive Credit Reporting

Additional information held by credit rating agencies will be made available to lender to make better lending decisions.  The credit reporting agency will now have a clearer picture of each individual’s credit history..

GST Collection Austra

As of the first of July GST on any residential property will now have to be directly paid to the ATO.

Tax rate changes

Tax rates for individuals have changed in Australia and come into effect July 1st.

Gambling in the USA

Sports gambling in the United States has been illegal since a law was passed in the 90’s.  The US Supreme Court has struck down that law.


  • ASIC is looking for accountants who are advising people of self-managed super funds will now have to be accredited.
  • Initial coin offerings are exploding in number. ASIC is now asking people to report more information about corrupt ICO deals.
  • Apple has been slapped with a $9 million fine for releasing software that bricked their devices and now issuing a fix.

More about this Show

We started Business Legal Lifecycle to create a simple way for you to understand complex legal terms.  Most importantly we want to help you to develop a plan to take your business successfully into the future.  There’s a startling statistic the underscores the importance of developing a solid plan.  The majority of business owners are just seven months away from losing everything.  A single aspect of your business that is not set-up correctly can shut down your whole operation very quickly.   Legal advice is not cheap and even when you can afford it there is often a divide between lawyers and their clients.  We want to close that gap once and for all.  We want to put legal knowledge and tools into your hand to prevent the worst from happening to you.

Twice a week we are going to deliver those tools right to your home or office with Business Legal Lifecycle TV.  We’ll start the week with Fast Fix Monday, a short 5-10 minute video that will tackle a single issue that businesses have to deal with.  Then on Wednesday’s our main show will feature with more fulsome discussions and interviews all delivered in a straightforward and easy to understand format.

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