CONDON IN THE COMMUNITY

CONGRATULATIONS MUNA LALOO Many of you are probably unaware but Western Sydney University offers international support by assisting migrants displaced by civil war and/or global unrest to rebuild their lives. They do this by each year providing Refugee Scholarships to students to assist with their studies. In 2014, Muna Laloo, a valued member of the … Continued

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THE RAMIFICATIONS OF NEW TECHNOLOGY

In todays “digital age” where staying ahead of the competition is vital, new technology is important for any business to introduce as it gives an edge over competitors and gives customers access to the state-of-the-art technologies that they crave. It is also important that all legal and regulatory factors are considered before any technology is … Continued

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CLAIMING TAX DEDUCTIONS WITHOUT NEEDING A RECEIPT

As tax time approaches every year taxpayers are required to lodge their tax returns before the deadline advised by the Australian Taxation Office. While completing and lodging their tax returns, taxpayers are entitled to benefits such as tax deductions. Some deductions require the collection of receipts and other records to assist them in getting a … Continued

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IPSO FACTO…? SO WHAT …?

Recent changes to the Corporations Legislation have brought in new conditions in relation to ‘ipso facto’ clauses and how they apply in situations of financial difficulty moving forward. So what is actually an ‘ipso facto’ clause? It is first crucial to determine what may actually constitute an ‘ipso facto’ clause. These are clauses that are … Continued

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THE HARBOUR IS NOW SAFE; …OR IS IT?

Recent changes to the Corporations legislation have brought in new provisions commonly referred to as the ‘Safe Harbour Amendments.’ These amendments have primarily been designed to give Directors of failing or financially unwell companies an opportunity to put into place a rescue strategy without being fully exposed to the punitive provisions of the Act. That … Continued

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Condon Forum 4

Condon Forum – Tax Update

The Condon Forum (“It’s Accrual World – Tax Still Hasn’t Gone Away”) was held on 31 May 2017. Michael Collett (Tax Principal, Nexia Australia), Brett Young (Barrister, State Chambers) and Schon Condon (Managing Principal, Condon Associates Group) shared their experience and professional knowledge on the latest in taxation. Thank you to Joel Brooks from Chef’s … Continued

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Recent NSW Court of Appeal Decision – Unfair Preferences Will Come Back to Bite You!

Recent NSW Court of Appeal Decision – Unfair Preferences Will Come Back to Bite You!

As those in the insolvency industry know, or ought to know, unfair preferences are payments or transfers of assets that give a creditor an advantage over other creditors. Pursuant to section 588FA of the Corporations Act (“the Act”), the normal procedure for a Liquidator to successfully prove a preference claim is as follows: The company … Continued

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Managing Caution in An Organisation

Managing Caution in an Organisation

Today we are seeing increasing instances where the failure to apply a reasonable degree of caution can leave a business or organisation in a real world of hurt. Whether it is simply not maintaining software upgrades, opening emails that are clearly not right, or rushing into opportunities that should really be properly thought through. In … Continued

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