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 […]
An Overview of The JobMaker Hiring Credit Scheme Eligibility Rules
On Tuesday 6th October 2020, the federal government announced a new scheme called the “JobMaker Hiring Credit”. This new incentive was established to encourage businesses to employ young job seekers who have been left unemployed as a result of the ongoing covid-19 pandemic. Timeline of Access to Payments & How Much Money Will Employers […]
Getting Young Australians Back (or) Into The Workforce: The Benefits of The Federal Governments “JobMaker” Scheme
Millions of young Australians have been left unemployed as a result of the ongoing covid-19 pandemic. In an attempt to get more people aged between 16 and 35 back into the workforce the federal government has introduced a new scheme called the “JobMaker Hiring Credit”. As outlined in the recent 2020-21 Federal Budget, the treasury […]
Distinct Lack of COVID-19 Support for Sole Traders
Distinct Lack of COVID-19 Support for Sole Traders Grants to keep small businesses operating amid COVID-19 restrictions have been welcomed, but concerns remain about how the $17.6 billion stimulus package might help Australia’s 1.5 million sole traders. So far there has been a distinct lack of support available to sole traders, as most stimulus measures […]
Putting Your Business into Hibernation
Putting Your Business into Hibernation New Federal Government Business Support Measures The government has announced further business support measures in the form of a $1500/fortnight wage subsidy, with the aim of keeping people employed in their current roles. Much of the government’s focus on business support has been on helping businesses to survive a period […]
Queensland COVID-19 Jobs Support Loans
Applications open Queensland COVID-19 Jobs Support Loans Applications are now open for the Queensland Government’s $500 million COVID-19 Jobs Support Loan scheme. This scheme is for Queensland businesses and non-profit organisations financially affected by COVID-19 to retain employees and maintain their operations. Low interest loans of up to $250,000 are available to assist with carry-on […]
Insolvency Amnesty Provides Breathing Room
The Australian Federal Government announced Sunday (22 March 2020) that it intends to make temporary amendments to insolvency and corporations laws in light of the challenges COVID-19 poses to many otherwise profitable and viable businesses. In particular, the government intends to relieve directors from the risk of personal liability for insolvent trading, where the debts […]
QLD Government COVID-19 economic relief package
The initial roll-out of the package has been somewhat vague, with more emphasis on how much the government will be giving, and less about the practical realities of eligibility and application processes. The following is a summary of where the Queensland Government’s $4 billion Covid-19 business support package will be going. $2.5 billion for workers […]
