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How does a section 73 proposal work?

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A section 73 proposal is a formal proposal presented to a creditor under section 73 of the Bankruptcy Act 1966. This mechanism provides bankrupt individuals with an opportunity to end their bankruptcy early. If the section 73 proposal is accepted by the creditor, the bankruptcy is annulled and it is as if it never happened.

Corporate Governance and Technology

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Commentators have suggested that Companies with boards that not only have an understanding but also embrace technology in their corporate governance roles will have a great advantage over those that do not. However, Australian boardrooms and executives have been considered significantly less technologically savvy then their overseas counterparts.

How will the proposed changes to superannuation effect you?

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The Government recently announced the following proposed changes to those made in the recent Federal Budget.

What is the Harman principle?

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The Harman Principle is a rule expressed as an implied undertaking to the Court not to use documents or information that is obtained under a court order for any purpose other than that for which it was given. The rule continues to apply until such documents or information becomes evidence in the proceedings in an… Read more »

Does a CGT exemption apply to you?

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Are you thinking of selling your property? Before you do, you should familiarise yourself with Capital Gains Tax (CGT) and determine whether any exemption applies to you.

Directors appointed to the Board of a Subsidiary Company

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Are you a director that has recently been appointed to the board of a subsidiary company? If you are, then it is important that you remember that your duty is to the subsidiary company to which you are a director, not the parent company which appointed you.

Executors: Conflicts of Interest

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Are you an executor of a friend or family member’s estate? Being able to identify a conflict of interest is an important skill for any executor. Failure to identify possible conflicts of interest can often have significant consequences.

Workplace Policies – A great idea for any business

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Managing staff can be one of the most challenging things for any business. Disputes with employees can cost the business time and money. A great way to minimise disputes and to effectively manage your employees is by having appropriate workplace policies in place.

Correction obligations on credit reports

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The amendments of the Privacy Act 1988 (Cth) had a significant impact on the credit reporting system. The amendments brought the introduction of a comprehensive reporting system as well as a new corrections system.

Cyber Security

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With the rapid increase and continued threat of cyber-attacks, cyber security is now more important than ever. Cyber-attacks can have a detrimental impact on a company. The ramifications can affect a company’s financial stability as well as leaving its customers feeling vulnerable.