Safe Harbour Reforms: Must the Captain Always Go Down With the Sinking Ship?

Insolvency Law Reform Act 2016 (ILRA) introduced a raft of new reforms in the Corporations Act and Bankruptcy Act to update and streamline Insolvency law in Australia. The reforms were introduced in two tranches, with the second tranche of reforms commencing just over two years ago on 1 September 2017 introducing new Safe Harbour provisions … Continued

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Investment Strategies for Different Age Groups

“An investment is the current commitment of money or other resources in the expectation of reaping future benefits” (Bodie, Kane & Marcus 2008,p.1) However, there is no “one size fits all” rule when it comes to investment strategies. Still, the following fundamental investment strategies can be applied to different age groups in order to help … Continued

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Do the Right Thing

In everyone’s “walk of life” there are rules and regulations. There are laws for laws the man or woman in the street hadn’t even thought there was a need for. Check out the 42 Laws of Cricket and the 24 Rules of Golf. All the laws, by-laws, rules and regulations are written for a purpose, … Continued

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Single Touch Payroll

Single Touch Payroll (STP) is a new way of reporting tax and super information to the ATO. If you are using a solution that offers STP reporting, such as payroll or accounting software, you will send your employees’ tax and super information to the ATO each time you run your payroll and pay your employees. … Continued

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UNFAIR TERMS IN SMALL BUSINESS CONTRACTS

Today the skills required to successfully run a small business are broad, – sales, marketing, accounting, production, supply chain management, negotiation, and human resources skills.  All, to varying degrees, are required in order to make a small business successful. However, in addition to all that, one area that is regularly neglected by business owners is … Continued

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Effect of Insolvency on ATO’s Garnishee Power

With the recent spotlight on the alleged overzealous use of debt recovery tactics such as s260-5 Garnishee Notices by the Australian Taxation Office (“ATO”) to recover taxation liabilities, it is worthwhile to examine the legislation surrounding and impact of these notices on individuals, businesses and the effect of an insolvency appointment. The Legislation Section 260-5 … Continued

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