Queensland’s debt levels will blow out to more than $100 billion by mid next year $18 billion more than what was predicted before the coronavirus pandemic hit. Key points: The debt level before COVID-19 hit was forecast to be $84 billion The fiscal plan is the only major economic update for Queensland before the state…
September 7 2020 – 3:30PM House prices have increased at a much faster rate than income since the mid-1990s, which has led to three times the amount of people carrying mortgages and debt into retirement. When you pair this with the ageing population, it leaves many retirees strapped for cash, in what is supposed to…
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell has welcomed the federal governments extension of temporary insolvency and bankruptcy protections, to support struggling small businesses impacted by the COVID crisis. Regulations reducing the threat of creditors taking action against a small businesses impacted by trading restrictions have now been extended to 31 December…
A development company that once boasted a $3.5bn pipeline of apartment projects in southeast Queensland is exiting the state amid continuing uncertainty over the future of the construction sector. Urban Construct Qld and associated companies are being wound up voluntarily by its shareholders with a liquidator put in charge of the company’s affairs. The company…
Temporary insolvency and bankruptcy protections to assist financially distressed Australian businesses during the COVID-19 pandemic have been extended until 31 December 2020. The Federal Government will introduce regulations to extend the temporary increase in the threshold at which creditors can issue a statutory demand on a company, as well as the time companies have to…