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ASBFEO INSOLVENCY PRACTICES INQUIRY

ASBFEO INSOLVENCY PRACTICES INQUIRY

Newsletter

by Paul Gidley17.02.20

The delivery date for the final report of the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Insolvency Practices Inquiry (the Inquiry) has been extended from 18 February to March
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DIRECTORS TO BE PERSONALLY LIABLE FOR OUTSTANDING GST – COMBATING ILLEGAL PHOENIXING BILL PASSES SENATE

blog article

DIRECTORS TO BE PERSONALLY LIABLE FOR OUTSTANDING GST – COMBATING ILLEGAL PHOENIXING BILL PASSES SENATE

by Jeff Shute12.02.20

Last week saw the long-anticipated Treasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2019 finally pass both Houses. The legislation contains numerous measures to combat illegal phoenixing.
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HOW TO AVOID PERSONAL LIABILITY FOR PAYG AND SUPERANNUATION OBLIGATIONS.

blog article

HOW TO AVOID PERSONAL LIABILITY FOR PAYG AND SUPERANNUATION OBLIGATIONS.

by Paul Gidley30.09.19

Confusion appears to surround the means by which company directors can extinguish personal liability for a company’s unpaid PAYG Withholding (PAYGW) and Superannuation Guarantee (SG) liabilities.
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OVERVIEW: ONE YEAR BANKRUPTCY

case study

OVERVIEW: ONE YEAR BANKRUPTCY

by Clare Corrigan18.09.19

You have probably heard about the approaching changes to reduce the three year bankruptcy period to one year. While we do not know the exact date the changes are to be implemented, one term.
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ARE RESTITUTION /COMPENSATION ORDERS EXTINGUISHED BY BANKRUPTCY?

case study

ARE RESTITUTION /COMPENSATION ORDERS EXTINGUISHED BY BANKRUPTCY?

by Clare Corrigan18.09.19

The short answer is YES they are, provided the amount payable was fixed prior to the date of bankruptcy and the Order has not been made under proceeds of crime law.
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CAN I KEEP MY HOUSE IF I GO BANKRUPT

case study

CAN I KEEP MY HOUSE IF I GO BANKRUPT

by Clare Corrigan18.09.19

The short answer is possibly. Equity in real property in which you have a legal or beneficial interest vests in your Trustee in Bankruptcy and your Trustee will look to realise that equity.
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WHAT DEBTS ARE EXTINGUISHED BY MY BANKRUPTCY?

case study

WHAT DEBTS ARE EXTINGUISHED BY MY BANKRUPTCY?

by Clare Corrigan17.09.19

After you are discharged from bankruptcy you are released from most “provable” debts. You are not, however, released from any “non- provable” debts.
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BANKRUPTCY MYTHS

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BANKRUPTCY MYTHS

by Clare Corrigan01.09.19

Common bankruptcy myths
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7 VIRTUES THAT MAY HELP YOUR SMALL BUSINESS CLIENT IN A DOWNTURN

blog article

7 VIRTUES THAT MAY HELP YOUR SMALL BUSINESS CLIENT IN A DOWNTURN

by Paul Gidley27.08.19

The media is ripe with warnings of an economic downturn. We attempt to provide seven virtues we’ve identified that help micro, small and medium enterprise (MSMEs) endure economic recession.
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INNOVATION CHAMPIONS – TURNING FAILURE INTO SUCCESS

blog article

INNOVATION CHAMPIONS – TURNING FAILURE INTO SUCCESS

by Luka Pilipovic22.08.19

Creativity involves thinking up new ideas. Most business owners have countless creative ideas that kick around for years until they are either forgotten or abandoned.
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BANKRUPTS CAN EXPECT A DELAY IN THEIR TAX REFUND THIS YEAR… AND LESS!

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BANKRUPTS CAN EXPECT A DELAY IN THEIR TAX REFUND THIS YEAR… AND LESS!

by Clare Corrigan31.07.19

When the federal government announced their tax offset earlier this month, many taxpayers may have expected a higher tax refund this year, however this is not the case.
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UNFAIR PREFERENCE PREVENTION BETTER THAN CURE FOR BUSINESS ADVISERS

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UNFAIR PREFERENCE PREVENTION BETTER THAN CURE FOR BUSINESS ADVISERS

by Paul Gidley30.07.19

Sometimes, getting paid by a client for accounting or legal services can be like pulling teeth. Imagine then if you finally get paid and a liquidator comes knocking demanding the money back.
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3 WAYS TO GET OUT OF BANKRUPTCY EARLY

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3 WAYS TO GET OUT OF BANKRUPTCY EARLY

by Clare Corrigan24.07.19

Typically, a bankruptcy term will automatically end 3 years and 1 day from the date the Statement of Affairs is lodged. What might not be well known is that the bankruptcy period can finish earlier.
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