Over 18 months have passed since the COVID Pandemic caused a significant change in the enforcement policy within the ATO’s debt/tax recovery teams. While initially this policy was (at least in part) mandated by the Federal…
Licence Please?
Consumers seeking the services of debt management firms are often at their most vulnerable and experiencing significant financial hardship. Unfortunately, there is now substantial evidence from a range of industry stakeholders, including consumer advocates, industry ombudsman,…
Peak Indebtedness Rule abolished
The ‘peak indebtedness rule’ is no more (or at least, pending any appeal) following the recent decision of Badenoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns Limited (in liq) (receivers and managers…
Proposed “pause” to ATO debt recovery action against small businesses
As part of the 2021-22 Budget, the Federal Government announced a proposal that would enable small business entities (including sole traders) with an annual turnover of less than $10 million to apply to the Administrative Appeals…
Update to Corporate Insolvency Reforms and Simplified Debt Restructuring for Small Business
As a result of the impacts of the COVID-19 pandemic on commercial enterprise within Australia, the federal government introduced temporary relief for financially distressed companies to assist them to navigate this crisis. Among other things, this…