The Australian Tax Office has announced that whilst it remains committed to engaging with taxpayers about unpaid debts as the economy emerges from the COVID-19 pandemic, where taxpayers don’t engage … [Read more...]
SMALL BUSINESS INSOLVENCY REFORMS
On 10 December 2020, the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 (Cth) (the “Bill”) was passed by the Federal Parliament. The Bill makes a number of amendments to the … [Read more...]
Third Party Preference Payments Law Clarified by Victorian Court of Appeal
In Cant v Mad Brothers Earthmoving Pty Ltd [2020] VSCA 198 (“Mad Brothers”), the Victorian Court of Appeal has provided some much-needed clarity as to the circumstances in which a liquidator can claw … [Read more...]
Extension of Insolvency Relief
The Federal Government has announced that the temporary insolvency relief implemented in March of this year pursuant to the Coronavirus Economic Response Package Omnibus Act 2020 (Cth) (the “Act”) … [Read more...]
A window of opportunity for restructure
As a consequence of the financial impact that COVID-19 has had on the economy, Australia has entered a recession for the first time in 29 years. If your business is experiencing financial … [Read more...]
Coronavirus Economic Response Package Omnibus Act 2020 (Cth) response to the issuing of a statutory demand under the new laws
A recent decision of the Supreme Court of Queensland, Sunstate Land Pty Ltd v Hiview Design & Construction Pty Ltd[2020 QSC 181], is one of the few cases in which the application of … [Read more...]