WILL THE “IPSO FACTO” STAY REALLY HELP SMES TRADE OUT OF DIFFICULTIES?

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WILL THE “IPSO FACTO” STAY REALLY HELP SMES TRADE OUT OF DIFFICULTIES?

by Paul Gidley31.07.18

Contractual “ipso facto” clauses historically allowed a party to a contract to unilaterally terminate or modify the contract in response to an insolvency event affecting the counterparty.
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WILL CHANGES TO GST WITHHOLDING ON RESIDENTIAL PROPERTY SALES FOIL ILLEGAL ‘PHOENIXING’?

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WILL CHANGES TO GST WITHHOLDING ON RESIDENTIAL PROPERTY SALES FOIL ILLEGAL ‘PHOENIXING’?

by Paul Gidley28.06.18

After several failed attempts to prevent illegal ‘phoenixing’ regarding GST in the property development industry, the ATO has settled on a broad-brush legislative solution
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LIQUIDATORS ASSIST ASIC IN DIRECTOR PROSECUTIONS FOR PHOENIX ACTIVITY

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LIQUIDATORS ASSIST ASIC IN DIRECTOR PROSECUTIONS FOR PHOENIX ACTIVITY

by Paul Gidley02.05.18

According to recent information released by ASIC, it has won some minor battles in its ongoing war in combatting illegal phoenix activity, resulting in several convictions and disqualifications.
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KNOCKED OVER BY A FEATHER(STONE)!

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KNOCKED OVER BY A FEATHER(STONE)!

by Paul Gidley11.11.17

Recent Court rulings in Queensland may be the beginning of a paradigm shift by the legislature in favor of liquidators’ recovery powers.
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ARE PROPOSED ‘ILLEGAL PHOENIXING’ REFORMS COUNTERPRODUCTIVE?

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ARE PROPOSED ‘ILLEGAL PHOENIXING’ REFORMS COUNTERPRODUCTIVE?

by Paul Gidley20.10.17

Given the fine line between ‘illegal phoenixing behaviour’ and legitimate restructuring activities, the jury’s out on whether planned reforms can deliver the right outcomes.
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 Insolvenccyontherise

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INSOLVENCY FIGURES ON THE RISE

by Paul Gidley30.09.17

The Australian Securities and Investments Commission (ASIC) and the Australian Financial Security Authority (AFSA) have released their Insolvency Statistics for the 2015 – 2016 financial year.
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SAFE HARBOUR FOR GENUINE RESTRUCTURING

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SAFE HARBOUR FOR GENUINE RESTRUCTURING

by Paul Gidley27.09.17

Having incorporated some modification, of successful lobbying, the Treasury Laws Amendment (2017 Enterprise Incentives No.2) Bill 2017 – set to commence on 1 July 2018 – provides a ‘safe harbour
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Dangers of Director Loan Accounts

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Dangers of Director Loan Accounts

by Paul Gidley27.08.17

One trick which directors may be tempted to resort to when cashflow is tight, is to take funds from their company in the form of a loan rather than paying themselves a wage.
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MAKING SENSE OF INSOLVENCY RISK

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MAKING SENSE OF INSOLVENCY RISK

by Paul Gidley25.08.17

Any Australian business that only managed to stay afloat by using their debts due to the Australian Tax Office (ATO) as a type of unofficial/unauthorised overdraft facility.
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SURVIVING THE RISING INTEREST RATE AND ATO ONSLAUGHT

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SURVIVING THE RISING INTEREST RATE AND ATO ONSLAUGHT

by Paul Gidley24.07.17

Revelations that Melbourne Cup day could herald the first in a new cycle of interest rises, plus heightened collection efforts by the Australian Tax Office (ATO).
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Has Insolvency Law Reform Backfired?

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Has Insolvency Law Reform Backfired?

by Paul Gidley26.06.17

Changes to personal and corporate insolvency law, courtesy of the Insolvency Law Reform Act 2016, may result in greater compliance and additional costs.
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HAS THE ATO PUSHED ITS AGED PAYABLE PROBLEM INTO THE SME SECTOR?

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HAS THE ATO PUSHED ITS AGED PAYABLE PROBLEM INTO THE SME SECTOR?

by Paul Gidley27.03.17

Readers may recall Shaw Gidley predicting in our November 2015 newsletter that the ATO’s hard-nosed approach to debt collection may eventually result in their significant aged payable problem.
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