An Overview of the Small Business Insolvency Reforms Introduced on 1st January 2021
On 1st January 2021 the Australian federal government’s small business insolvency reforms came into effect thus replacing the temporary insolvency protections which were introduced on 25th March 2020 during the peak of the covid-19 pandemic. The reforms in the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 were passed through federal parliament on Friday 11th […]
The Future of Rural Australian Motels In The Age of Covid-19
The ongoing covid-19 pandemic has caused mass disruption in virtually every industry on the planet. Motels in small country towns across Australia are experiencing their fair shares of ups and downs as international travel is off the table and Australian tourists are restricted to travelling domestically. Craig Dangar from C&D Restructure & Taxation Advisory […]
The Benefits of Debtor in Possession & The Implications of the Small Business Insolvency Reforms Introduced on 1st January 2021
On 11th December 2020 Federal Treasurer Josh Frydenberg announced that the Australian Government would be making changes to Australia’s insolvency framework to help small businesses who have been affected by the economic impacts of COVID-19. The proposed changes came into effect on 1st January allowing businesses with liabilities of less than $1 million to restructure […]
Insolvency reforms and debtor in possession
In its bid to continue to assist small businesses experiencing financial distress during the pandemic, the federal government has proposed new insolvency reforms for SMEs with liabilities of less than $1 million, these are referred to as debtor in possession and are similar to Chapter 11 in the United Stated. These reforms will require struggling […]
Changes to the insolvency landscape
What do the recent Insolvency Reforms mean? Josh Frydenberg, the Federal Treasurer for Australia, has announced a new restructuring regime for struggling small to medium enterprises (SMEs) which adopts a ‘debtor-in-possession’ model for companies owing less than $1 million. Given that the legislation is yet to be released, we don’t intend to comment in great […]
Debtor in Possession
With the new rules coming into operation in early 2021, it is opportune to work out if the debtor in possession structure will be appropriate for your business. The debtor in possession rules will allow a business to continue to trade, and for the owners to continue to operate the business without the limitations of […]
C&D Adapting to rapidly changing landscape
Over the next few weeks, there will be a new colour and a change of logo to the C&D presence as we continue to adapt to the changing economic landscape. The last six months have been challenging for most businesses and we have been in the same boat. Whilst missing our Yeronga home, the opportunity […]
Moving office
The team has relocated to 110A Hoff Street Mt Gravatt and will be operating from here for the rest of 2020. The change has brought a further flexibility that we feel better aligns with the changing marketplace and hopefully will allow us to be more adaptable. We are retaining the offices in Geelong and Sydney, […]
What is the Right Governance Structure for my SME?
Under modern governance principles, there is a difference between the governance of an organisation and the operations of the business of the organisation. Governance generally refers to a number of governing functions in relation to an organisation, which are well articulated in ‘Tricker’s framework’ of corporate governance. Formulating and monitoring the strategic direction of the […]
Asset protection for ATO claims
It relates to the Australian Taxation Office (ATO). The ATO can issue garnishee notices under section 260-5 of Schedule 1 of the Taxation Administration Act 1953 (TAA). Under the notices, the Commissioner is empowered to recover tax and related liabilities, including judgment debts and certain other debts from third parties who owe money to or […]
