Retail tenants and landlords listen up! Changes to the laws governing retail leases in Victoria came into effect this week that impact you. The Retail Leases Amendment Bill (‘the Bill’) amends key aspects of the Retail Leases Act 2003 (‘RLA’) and Building Act 1993 (‘Building Act’). The below amendments are effective from 1 October 2020, except for those regarding essential safety measures which came into effect … Continue reading Retail Leasing Update »

Putting an estate plan in place is one of things business owners often push to the side for “another time”. In reality however, having a strategic estate strategy in place is the only way you can ensure that everything you’ve worked so hard for is secure and that your wishes are carried out. We’ve explained the Top 7 Considerations you need to prepare your estate plan … Continue reading Top 7 Considerations for the Preparation of an Effective Estate Plan »

Commercial Tenants and Landlords find themselves in lockdown once again in Victoria. The second round of Stage 3 lockdown restrictions have brought increased pressure to bear on businesses that have been forced to once again shut down or significantly reduce their ability to generate revenue, potentially affecting the ability of some to financially survive this pandemic. As previously reported in our News Hub ( https://staging.prismalegal.com.au/victorian-regulations-commercial-leasing-rent-land-tax-relief/ … Continue reading Landlords and Tenants in Lockdown: Revisiting Commercial Rent Relief »

  The economic impact of COVID-19 is now set to be more devastating with the reintroduction of lockdown in Victoria, which has again forced businesses to either close or drastically limit capacity and service offerings. Given that the economic and legal measures the government has taken in recent months are due to expire at the end of September, the scene is set for the perfect … Continue reading Unlocking the Economic Impact of COVID-19: Business Support Deadlines Imminent »

We are excited to announce Prisma Legal has joined forces with Monash University Faculty of Law with our Principal Lawyer, Fotini Kypraios, supervising  the 2020 Monash University Startup & Innovation Law Clinic. After a successful pilot of the Startup and Innovation Law Clinic in 2019, which Prisma Legal was also a part of, Monash University has again offered the opportunity to final year law students … Continue reading Prisma Legal & Monash Law Clinics Collaboration »

We’re half way through government relief protecting directors from the consequences of insolvent trading. Further to the extension of Safe Harbour measures provided by the Federal Government, which were intended to shield directors from the impact of COVID-19 (see our article published on 3 April 2020 in the News Hub), the Coronavirus Economic Response Package Omnibus Act 2020 (Cth) (CERPO Act) grants temporary immunity to directors from … Continue reading Directors, Time to Look Out Before Solvency Relief Expires »

The classic Barrel of Monkeys is not just about fun and games. Believe it or not, it’s about collaboration, connection and trust.  Victory is only possible by keeping all the monkeys connected. COVID-19 has shown us that there is nothing more important than connection in business and in our personal lives. The global pandemic has turned the world upside down. Literally. The financial impact has been … Continue reading Staying Connected is not Monkey Business »

Long awaited COVID-19 Regulations have come into force in Victoria clarifying commercial leasing rental relief that tenants can negotiate with landlords and providing practical guidance about how parties can reach agreement on rent and land tax savings. The COVID-19 Omnibus (Emergency Measures) (Commercial Leases and Licences) Regulations 2020 (Regulations) were made on 1 May 2020 and have a retrospective effect from 29 March 2020. The … Continue reading New Victorian Regulations Clarify COVID-19 Commercial Leasing Rent and Land Tax Relief »

  The Victorian Parliament passed a package of temporary changes to laws in 14 different areas dealing with COVID-19 issues at 7.00 pm on Thursday 23 April 2020, including commercial and retail leases.  Although the COVID-19 Omnibus (Emergency Measures) Bill 2020 (‘Bill’) does not provide any further certainty in respect of the adoption of the National Cabinet Mandatory Code of Conduct (‘Code‘),  it allows for … Continue reading Commercial and Retail Leases: New COVID-19 Bill Passed by Victorian Parliament »

  If it’s a little quieter than usual due to the current COVID 19 lockdown challenges, now is the time to work on your business, not only in your business. Where do you start? Glad you asked! We’re big on lists. We thought it was time to share the love. Here’s a checklist we prepared for you earlier:   1. Get your Fine Print Right: … Continue reading COVID-19 Lockdown Business Checklist – Review Reset Refresh »