Australian government announces major changes to Franchising Code and Competition and Consumer Act
By Rebecca Bedford, Kate Watts and Ben Dodgshun
The minister for small business, the Hon Bruce Billson MP, has released an exposure draft of amendments to the Franchising Code of Conduct and relevant provisions of the Competition and Consumer Act 2010 (CCA) for public consultation.
Franchisors will now also face penalties for not complying with the code.
The amendments will apply to franchise agreements entered into or renewed on or after 1 January 2015. The changes follow an extensive review of the code conducted by Alan Wein, which commenced in January 2013. The key changes proposed in the exposure draft are summarised below…
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This page provides a link to all the relevant discussion papers.
Despite their prevalence, there has been some uncertainty in relation to the income tax treatment of earnout arrangements.