Explain That by Velocity Legal

By Velocity Legal

Explain That is a podcast by Velocity Legal which unravels complex legal concepts and makes them easy to understand. Our host Andrew Henshaw (Managing Director of Velocity Legal) talks to a range of s... more

· Business

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FAQs about Explain That by Velocity Legal:

How many episodes does Explain That by Velocity Legal have?

The podcast currently has 47 episodes available.

Explain That by Velocity Legal episodes:

March 12, 2025Division 7A Explained (Part 1): How To Avoid Tax Traps
Do you advise business owners on Division 7A issues? Stay ahead of ATO compliance risks by understanding how unpaid present entitlements, company loans, and deemed dividends could impact your clients — and how to protect them from costly tax penalties.

In Part 1 of this two-part series, host Andrew sits down with Archana Manapakkam, Special Counsel in Tax Law, to break down:
What Division 7A is and why it matters for private companies?
Common mistakes business owners make when withdrawing company funds
How the ATO classifies loans as deemed dividends (and what that means for tax bills)
The risks of using company assets for personal use

Key compliance rules accountants and tax advisers need to know
Learn more about us at https://www.velocitylegal.com.au/
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17min
February 24, 2025 12C - Challenges for Franchisees
In this episode, the focus shifts to franchisees. Andrew Henshaw and Greg Thomas explore the critical aspects of selecting a franchise, emphasising the importance of understanding franchise agreements and disclosure documents. Topics such as due diligence, territory exclusivity, and ongoing compliance with the franchisor’s systems are highlighted. This episode also discusses key risks, such as entering into long-term agreements without a clear exit strategy and the potential challenges of running multiple franchise locations. Franchisees are advised to maintain good communication with franchisors and ensure they fully understand their legal obligations and business commitments.
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16min
February 17, 2025 12B - Legal and Business Considerations for Franchisors
This episode focuses on franchisors and the critical legal and business issues they face. Andrew Henshaw and Greg Thomas discuss the importance of getting the right advice from legal, financial, and business professionals. Topics covered include the significance of intellectual property, asset protection, and structuring the franchise system. This episode also delves into franchise agreement terms, including royalty fees, franchisee selection, and compliance with the Franchising Code. Franchisors are encouraged to consider long-term support, maintain strong relationships with franchisees, and ensure consistency across the franchise network.
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17min
February 10, 2025 12A - The Fundamentals of Franchising
In this episode, Greg Thomas introduces the concept of franchising, contrasting it with licensing and other business models. The discussion begins with a general overview of how franchising operates, focusing on the relationship between franchisors and franchisees. This episode highlights the Franchising Code of Conduct, outlining key elements like pre-contractual disclosure, marketing funds, and franchise agreements. We also touch on the Australian Competition and Consumer Commission’s (ACCC) role in enforcing transparency and regulation in franchising, emphasising the need for proper disclosure and business advice.
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21min
December 16, 2024 11C - The Future of Restraints of Trade
This final episode broadens the discussion to explore the interaction of restraints of trade with other areas of law, including the protection of confidential information. It offers practical tips for businesses managing risk when a departing employee seeks to take clients or information to springboard a new venture. Andrew and Katherine also look ahead and consider potential reforms that could impact the use of non-compete clauses in Australia.
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19min
December 09, 2024 11B - Case Studies on Restraints of Trade
Katherine and Andrew look at some recent cases that highlight how restraints of trade are interpreted and enforced by the Courts. The discussion considers a case where well drafted post-employment restraints ultimately fell down because the business did not come to court with clean hands. It also touches on the commercial context and two cases where restraints did and didn’t prevent a former business owner from competing after a sale transaction.
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19min
December 02, 2024 11A - Introduction to Restraints of Trade
This episode lays the groundwork by considering the role of restraints in protecting business interests. Katherine and Andrew discuss different types of restraints in employment and commercial contexts. The discussion provides an overview of restraint principles, the different protections restraints can offer, and what happens if there is a breach.
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20min
November 25, 2024 10C - Payroll Tax Investigations - What Can Be Done When the Revenue Office Comes Knocking?
The final episode offers practical advice on preparing for a payroll tax audit, even before one begins. Rajan Verma provides tips for ensuring that payroll records are well-maintained, contractors are correctly classified, and businesses are aware of the grouping rules. The conversation also covers recent legal cases, such as those involving medical practices and the Uber ruling, that illustrate the evolving landscape of payroll tax law. With advice on proactive steps and best practices, this episode equips businesses with the knowledge to mitigate payroll tax risks effectively.
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21min
November 18, 2024 10B - Payroll Tax Investigations - What They Are and How They Work
In this episode, Andrew Henshaw and Rajan Verma dive into the process of a payroll tax investigation. They explain the typical timeline and procedures, starting with the initial letter from the state revenue office. This episode highlights the importance of early preparation and accurate record-keeping to minimise penalties. Rajan shares insights from his own experience, noting how state revenue offices often uncover issues through sophisticated data matching. Listeners learn how to respond when selected for an audit and the importance of considering voluntary disclosures to mitigate potential penalties.
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16min
November 11, 2024 10A - Introduction to Payroll Tax and Why it Matters
In this episode, the discussion revolves around the basics of payroll tax, a state tax that applies to wages paid by employers. Rajan Verma explains the scope of payroll tax, including what counts as taxable wages, the extension of payroll tax to contractors and the grouping rules. The hosts emphasise the rising attention on payroll tax compliance, driven by technological advancements and increasing audits.
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20min

FAQs about Explain That by Velocity Legal:

How many episodes does Explain That by Velocity Legal have?

The podcast currently has 47 episodes available.