TIME TO RE-THINK PROTECTION STRATEGIES
TIME TO RE-THINK PROTECTION STRATEGIES by Jeannet McCrea Traditionally, many businesses and professionals have utilised the time-tested strategy of putting the family home in the name of their spouse to protect their family home from creditors. This strategy was tested recently by the Australian Taxation Office (ATO) in the decision of Commissioner of Taxation v […]
NOT ALL ADVISORS ARE CREATED EQUALLY
NOT ALL ADVISORS ARE CREATED EQUALLY by Gavin King CA Over the years, I have countlessly witnessed firsthand the damage that can be caused when someone gets the wrong advisor to help them fix the problems with their business. Yes, the scenarios may vary, and a few details may be different but the story is […]
NEW DIRECTOR RESIGNATION RULES
NEW DIRECTOR RESIGNATION RULES by Padmini Saheb Section 203AA of the Act (“Act”) provides that a Resignation of a Director will now take effect: If, within 28 days after the day the person stopped being a Director of the Company, ASIC is notified of that fact, the day the person stopped being a Director of […]
DIRECTOR IDENTIFICATION NUMBERS – ALL YOU NEED TO KNOW ABOUT THE NEW REGIME
DIRECTOR IDENTIFICATION NUMBERS – ALL YOU NEED TO KNOW ABOUT THE NEW REGIME by Bradley Vos Director Identification Numbers (“DIN”) have finally come into effect in Australia from 1 November 2021 much to the delight of Insolvency Practitioners and the business community. This article provides a brief overview of what this new regime is, the […]
AVOIDING THE LIQUIDATOR
AVOIDING THE LIQUIDATOR by Gavin King CA A Company becomes insolvent when it is unable to repay its debts as and when they fall due. The Corporations Act 2001 provides that the Director(s) of a Company have the responsibility or obligation not to trade the business of the Company if the Company is Insolvent. This […]
LET’S GO… OFF INTO A BRAVE NEW WORLD!
LET’S GO… OFF INTO A BRAVE NEW WORLD! by Schon G Condon RFD To say that 2020 and 2021 have been different is an almost unbelievable understatement of the tallest order! Everyone has had to cope with an amazing amount of change, an inordinate amount of mental and in some cases, physical stress, and a […]
RIDING THE WAVE OF EASY CREDIT
RIDING THE WAVE OF EASY CREDIT by Gavin King CA Australia is on a huge wave of easy credit as a result of a number of factors including historically low interest rates and booming house prices along with the increasing availability of easy credit from buy now pay later providers as well as short-term internet-based […]
WHY A LOCKDOWN IS NEVER LOCALISED…
WHY A LOCKDOWN IS NEVER LOCALISED… by Schon G Condon RFD As I’m writing this, Sydney and parts of NSW have entered another lockdown – one which will have far-reaching consequences for not only this city, but for our nation as a whole. Just as there appeared to be a “return to normalcy”, we are […]
INSOLVENCY REFORMS TO ASSIST SMALL BUSINESSES RESTRUCTURING
INSOLVENCY REFORMS TO ASSIST SMALL BUSINESSES RESTRUCTURING by Padmini Saheb From 1 January 2021, the Government undertakes Insolvency Reforms to plan to keep businesses in business and Australians in jobs. The Reforms, are to assist Small Businesses restructure and survive the economic impact of COVID-19. The Key Elements of the Reforms are: The introduction of […]
CRISIS AVERTED…BUT AT WHAT COST?
CRISIS AVERTED…BUT AT WHAT COST? by Schon G Condon RFD Exactly one year ago, it appeared that the global economy was going to fall into a “zombie-filled abyss” due to the pandemic. However, with the International Monetary Fund (IMF) forecasting 6% growth this year (and 4.4% in 2022), it means that the predicted economic catastrophe […]