Key Insolvency Reforms You Need to Know!

The Insolvency protections, which were in place since March 2020 (known as the ‘insolvency moratorium’) has now come to an end. Accordingly, those protections afforded by the Coronavirus Economic Response Package Omnibus 2020 (Cth), such as the increase in debt owing before a creditor could issue a statutory demand (from $2,000 to $20,000), the extension [...]

2021-01-06T08:32:55+00:00January 6th, 2021|Business Advice, Corporate Advisory|Comments Off on Key Insolvency Reforms You Need to Know!

Changes to the Miscellaneous Award 2020, make sure your business isn’t caught out!

The Fair Work Commission recently made significant changes to the Miscellaneous Award 2020 (the Miscellaneous Award), which came into effect on 1 July 2020. It is important that all businesses review their current employment arrangements, to ensure that employees who were thought to be ‘non-award covered’ employees have not been caught in the wider net now cast [...]

2020-11-30T05:04:02+00:00November 30th, 2020|Business Advice, Compliance, Corporate Advisory, employees, Employment Law|Comments Off on Changes to the Miscellaneous Award 2020, make sure your business isn’t caught out!

Beware! Rise in dodgy insolvency providers ahead of surge in personal and corporate insolvencies

The personal insolvency regulator, the Australian Financial Security Authority (AFSA) has recently issued a warning around dodgy insolvency providers. It is anticipated that there will be a wave of business failures when the temporary insolvency relief measures come to an end at the end of this year. It is therefore a major concern of AFSA [...]

2020-11-25T23:22:37+00:00November 25th, 2020|Business Advice, Corporate Advisory|Comments Off on Beware! Rise in dodgy insolvency providers ahead of surge in personal and corporate insolvencies

Beware the new laws tackling Phoenix activity

Illegal Phoenix activity is when a new company is created to continue the business of an existing company that has deliberately liquidated to avoid paying outstanding debts, including creditors, taxes and employee entitlements. Throughout February to April 2020, the Treasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2019 was passed by Federal Parliament and the relevant [...]

2020-09-10T03:37:48+00:00September 10th, 2020|Business Advice, Corporate Advisory|Comments Off on Beware the new laws tackling Phoenix activity