Australian lawyers are cleaning up on salary. The Hays Salary Guide FY26/27 shows legal recorded the highest salary growth of any sector, with 21% of lawyers pocketing rises above 20%, well clear of the 7% national average. Top-tier Sydney equity partners are drawing $850k+, while grads start at $95k (excl super). See the full salary breakdown at mid-tier & top-tier firms here: Point Blank

⚖️ Consumer: Hismile has copped $138,600 in penalties after the ACCC issued seven infringement notices over social media videos depicting supposedly spontaneous reactions from random shoppers who were, in fact, Hismile employees. Separate videos for its Glostik Tooth Gloss product also drew fire for implying permanent stain removal when the product only temporarily concealed stains. Hismile admitted the conduct was, or was likely, misleading under the Australian Consumer Law. It's also given a court-enforceable undertaking committing to a compliance program and public notice: ACCC

⚖️ Employment: A criminal conviction isn't, by itself, grounds for dismissal. The Fair Work Commission confirmed this in Bowen v Queensland Rail Transit Authority, where a Queensland Rail tutor driver who pleaded guilty to common assault, breach of bail and drug possession successfully argued his dismissal was unfair. The key issue was connection — the employer couldn't demonstrate the convictions had any real impact on the employment relationship, and couldn't point to measurable reputational damage given Queensland Rail was never named in media coverage: Burn Legal

⚖️ Tax: The High Court has ruled 5-2 in Commissioner of Taxation v Bendel that unpaid present entitlements (UPEs) from a trust to a corporate beneficiary aren't loans under Division 7A, and can't be treated as deemed dividends. The majority's reasoning centred on the fact that a loan requires an obligation to repay, and simply sitting on an unpaid entitlement doesn't create that obligation. The expanded definition in s 109D(3), covering "financial accommodation" and transactions "in substance" a loan, didn't change that conclusion. The result turned heavily on the specific trust deed wording, so the decision won't cover every UPE arrangement. The Commissioner's decision impact statement is still pending: Mallesons

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Trump and Iran have agreed to end their war, with both sides signing a memorandum of understanding in Switzerland on 19 June. The US naval blockade lifts tonight, the Strait reopens, and oil prices dropped 3% on the news. Sixty days of negotiations follow on sanctions, frozen assets and Iran's nuclear program: Bloomberg, AFR

WA is getting a judicial watchdog. Legislation hitting parliament this week will establish a nine-person Judicial Commission to field complaints about judges and magistrates, covering everything from bullying and inappropriate comments to mental capacity. Anyone can lodge a complaint. If serious misconduct is proven, the report goes to the AG, then parliament, and ultimately the governor can remove the officer: ABC

⛽️ Exxon Mobil is running the ruler over Woodside Energy as a potential acquisition target, with the US giant keen to bulk up in LNG and Asian markets after its $60bn Pioneer deal in 2024. Woodside's $59bn market cap makes it no small ask, but tightening global LNG supply since the Iran war has sharpened Exxon's appetite: Bloomberg

🏥 Sigma Healthcare has pulled the pin on its US$10bn ($14bn) tilt at UK pharmacy giant Boots, after shareholders revolted over the sheer scale of the deal and doubts about whether the Chemist Warehouse model travels offshore: AFR

🏦 The ACCC has cleared Magellan's $1.6bn merger with Barrenjoey Capital, with completion now expected in early July. Post-merger, Magellan will rebrand as Barrenjoey Group, switching its ASX ticker from 'MFG' to 'BJY': Capital Brief