LATEST
NEWS

  If you’re facing bankruptcy, you might be wondering what happens to your tax refunds. In order to help, we’ve put together some general guidelines on how the Australian Taxation Office (ATO) deals with this during bankruptcy. The ATO can keep tax refunds to cover any unpaid tax debt if: You are an undischarged bankrupt; and You owe money to

READ MORE

The proposal by the Bankruptcy Amendment (Enterprise Incentives) Bill 2017 was to encourage greater entrepreneurial action by reducing the heavy penalties under the current regime. Under the current regime the bankruptcy period is 3 years.  Under the proposed amendments the bankruptcy period would be reduced to one year. By reducing the Bankruptcy period to one year, it will help to

READ MORE

A Bill to reduce the period of bankruptcy from 3 years to 1 year was introduced by the government in October 2017. It hasn’t become law as yet, but if the bill is passed by parliament bankrupts will be discharged 1 year from the date of filing their statement of affairs. What happens after I am discharged? You don’t need

READ MORE

People always want to know how long bankruptcy will last before they decide to go ahead with it. Bankruptcy is currently for a period of 3 years, however, a new bankruptcy bill was introduced into Federal Parliament in October 2017 and it proposes to reduce the period of bankruptcy to 1 year. If the bill is passed by Parliament you

READ MORE

Have you ever thought about the effect that declaring bankruptcy can have on your job? Bankruptcy can have a negative impact on certain jobs and professions which you may be employed in. The current career you have now or what you plan to do in future should always be considered before filing for bankruptcy. The act of filing for bankruptcy

READ MORE