CONDON IN THE COMMUNITY

On Friday 9th March the drums were beating on Condon Associates office balcony and all for a very good cause.  A wonderful lady named Ruth Magodo is raising funds to send young adults to Africa in hope that they will appreciate how lucky they are to call Australia home. At the last minute Ruth was … Continued

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IS YOUR BUSINESS’S TAX DEBT UNDER CONTROL?

As originally proposed in the 2016-17 Mid-Year Economic and Fiscal Outlook, the Federal Government has released draft legislation that would allow the Australian Taxation Office (ATO) to disclose overdue tax debts to credit reporting agencies, when certain conditions are met. Public consultation on the bill and the explanatory memorandum for the bill took place from December 2017 … Continued

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PROPOSED CHANGES TO GST WITHHOLDING ON NEW RESIDENTIAL PREMISES, WHO IS MAINLY AFFECTED BY CHANGES?

Once the Treasury Laws Amendment (2017 Measures No. 9) Bill 2017 has been enacted, the responsibility for paying GST on certain real estate transactions will shift from developers to purchasers. From 1 July 2018, purchasers of new residential premises or land within a subdivision in Australia may need to remit part of the purchase price … Continued

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Innovation through insolvency law reform: Bankruptcy period to be reduced from three years to one year.

Given that start-ups and entrepreneurs are a large contributor to new jobs and innovation in Australia, the Federal Government has taken several initiatives to foster a culture where innovation and entrepreneurship is encouraged. One of these initiatives is improved insolvency laws. As part of the National Innovation and Science Agenda, the Bankruptcy Amendment (Enterprise Incentives) Bill … Continued

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Be aware when proving Your Claim as a Creditor in an Insolvent Estate from South African Perspective?

It is interesting how the differences in insolvency law from one country to another affects creditors’ decisions when lodging their Formal Proof of Debt Form (“POD”) in an insolvent Estate. I was stunned when I received an email from one of the creditors of a Bankruptcy refusing to provide me with his POD, he was … Continued

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Welcome to 2018, and some thoughts on R&D

Hi everyone and welcome to 2018, no doubt it will continue to be more of “different” but “normal”! 2017 essentially closed quietly notwithstanding that it’s been a year of significant change for the Insolvency profession. Whilst steps were taken to align the operations of both the Bankruptcy Act and the Corporations Law, it is still … Continued

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