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
Most sales teams, up to 90%, are not performing at their possible best. The reason for unsatisfactory sales performance is often a combination of missing items in the puzzle. While some individuals are running at 120% of capacity, some people don’t even understand the products or tools available, and in many cases they come short … Continued
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
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
It belongs to the staff, it belongs to the creditors, it belongs to the Government, it belongs to lenders and it belongs to the customers. You as the business owner and director and guiding light are only its custodian. (In the interests of readability and space, hereafter, references to “he/his” are to be read as … Continued
It has been quite interesting to see the reaction that has erupted over the sudden expose of the fact that people with good noses, strong technical skills, a serious purpose and the opportunity to make a dollar will use whatever they can get to their own personal advantage and nobody cares; until they undermine the … Continued
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
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
The recent case of Chamberlain (Trustee) v Tilbrook  FCA 1586, NSD 1039 of 2017 highlights the steps a Trustee and their representatives will need to undertake in the event the receipt of a 139ZQ evades service and the features of a 139ZQ notice. As you may be aware 139ZQ is a notice that is … Continued
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