Changes to The Statutory Demand Threshold, The Personal Bankruptcy Threshold and Ceasing A Director
Ceasing a Director The ASIC has announced that from 18th February 2021 onwards there will be new requirements in regards to ceasing a company director in accordance with the Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 which was passed by Parliament in February 2020. The announcement which was made on 9th February 2021, […]
Treasury is considering an increase to the current Statutory Demand Threshold
The impact of the covid-19 pandemic has forced the government to make a huge number of changes to Australia’s insolvency framework. The Treasury is now deliberating about whether or not the current monetary threshold at which a statutory demand can be issued by a creditor should remain at $2,000 or should be permanently raised to […]