AND UP GO THE NUMBERS

AFSA have just released their latest quarter of statistics for the December quarter, and they have indicated a 7.4% increase over the same period in the prior year, that’s a total of 7,578 individual bankruptcies. They have stated that increases were reflected in all Territory’s and States in “year-on-year terms”. Given that that we increasingly … Continued

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“WELCOME 2018”

Welcome to 2018! It’s the start of what I’m sure will ultimately prove to be a very interesting year, with a wide variety of issues escalating on the world scene, and a string of financial impacts that are either evident (AFR’s article that the Banks plan to cut staff by 20,000 this year), or perceived … Continued

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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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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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Let’s Have a Second Crack at that DPN!

Recently we have received, or in the alternate the accountant, solicitor or director involved has received and notified us in respect to Director Penalty Notices (DPN’s) that had recently been issued that relate to earlier outstanding tax liabilities which remain outstanding today but had purportedly been dealt with, and resolved, before. All so far have … Continued

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That Number Four Again

It was interesting to note the reaction to the stuff up in this week’s Academy Awards and the media aftermath that has ensued!  As everyone is aware the envelope, contents, passing or something of the last award was wrong and finally the member of the Big Four responsible declared their fundamental role in what occurred. … Continued

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