payments

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ANSWERS TO HOW PAYMENTS FROM THE COVID-19 ECONOMIC RESPONSE PACKAGE ARE TREATED IN BANKRUPTCY

by Shaw Gidley17.04.20

The Government responded to the COVID-19 pandemic by introducing measures to mitigate the negative economic impact that it has caused to business and individuals.
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NEW ILLEGAL PHOENIXING LEGISLATION MEANS DIRECTORS PERSONALLY LIABLE FOR GST

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NEW ILLEGAL PHOENIXING LEGISLATION MEANS DIRECTORS PERSONALLY LIABLE FOR GST

by Jeff Shute03.04.20

On 18th February the Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 came into force. With it came new criminal offences and civil penalties.
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HOW IMMUNE ARE ACCOUNTING AND LAW FIRMS TO THE COVID-19 ECONOMIC DOWNTURN?

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HOW IMMUNE ARE ACCOUNTING AND LAW FIRMS TO THE COVID-19 ECONOMIC DOWNTURN?

by Luka Pilipovic25.03.20

COVID-19 has resulted in unprecedented cash flow challenges for many industries. Accounting and law firms will not be immune to the infectious consequences of the COVID-19 economy.
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BUSHFIRES, FLOODS, NATURAL DISASTERS, THE CORONA VIRUS AND INSOLVENT TRADING

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BUSHFIRES, FLOODS, NATURAL DISASTERS, THE CORONA VIRUS AND INSOLVENT TRADING

by Luka Pilipovic21.02.20

Various government and private institutions have put in place measures to help businesses affected by the recent bushfire crises in Australia.
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ASBFEO INSOLVENCY PRACTICES INQUIRY

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ASBFEO INSOLVENCY PRACTICES INQUIRY

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

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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.

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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

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OVERVIEW: ONE YEAR BANKRUPTCY

by Shaw Gidley18.09.19

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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 extinguished

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ARE RESTITUTION /COMPENSATION ORDERS EXTINGUISHED BY BANKRUPTCY?

by Shaw Gidley18.09.19

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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 house

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CAN I KEEP MY HOUSE IF I GO BANKRUPT

by Shaw Gidley18.09.19

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?

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WHAT DEBTS ARE EXTINGUISHED BY MY BANKRUPTCY?

by Shaw Gidley17.09.19

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 Shaw Gidley01.09.19

Common bankruptcy myths
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