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Who and what is a company public officer?

A public officer is a company’s representative to the ATO and is responsible for the company’s obligations under Section 252 of the Income Tax Assessment Act 1936.  The public officer is responsible for the company complying with the act and is also liable for the...

What happens to Superannuation in bankruptcy

If someone is in financial strife, one option is to declare bankruptcy.  But what happens to their superannuation (super)? The Bankruptcy Act 1966 defines super as a ‘on-divisible asset’ – in other words, it’s protected from creditors.  Therefore, once someone has...

Landmark Decision Puts Employees First in Insolvency

A recent High Court judgement has helped resolve uncertainty around the treatment of employees in the insolvency and winding up of trading trusts. In June this year, the High Court of Australia dismissed an appeal in Carter Holt Woodproducts Australia Pty Ltd v The...

Is an Employee Entitled to 6 Months Leave?

An employee of one of our clients wants to use a combination of accrued annual leave and long service leave entitlements to take 6 months leave. The question asked of us was whether our client’s business is legally obliged to accept the employee’s request for extended...

Common Mistakes When Changing Business Structure

There are four commonly used business structures in Australia: Sole trader- an individual operating as the sole person legally responsible for all aspects of the business. Like other structures, as a sole trader, you can employ people to help you run your business....

ATO to Report Small Business Debts to Credit Agencies

Tradespeople, cleaners, taxi drivers, farmers, doctors and lawyers could be inadvertently caught up by a proposed law that would allow the Australian Taxation Office (ATO) to report alleged debts to credit reporting agencies, according to submissions to a federal...