A Las Vegas casino has denied Bruno Mars racked up a $50 million (39 million) gambling debt. A representative for MGM Resorts International issued a formal statement on Monday to describe a supportive relationship with the Uptown Funk singer, and refute reports Bruno, 38, had incurred multimillion dollar debts at the company’s casinos. “We’re proud…
A 16-year-old Melbourne boy was able to gamble nearly $100,000, including at suburban pubs, despite his mother desperately seeking help, a court has heard. The Melbourne magistrates court heard that when his mother discovered his gambling habits, she began a frantic mission to get him help, only to be repeatedly turned away. In April last…
Last week I scored a trifecta, managing to upset people in three ways. First, for my supposed anti-immigration stance, second, for hating on Elon Musk (the bromance is still strong with some readers, even though his car company is as bad as the rest in terms of spying on drivers) and, finally, from animal lovers…
Breakfast Seminar | Event | Canberra This event will be held on Thursday, 14 March 2024. We are delighted to extend a special invitation to you for our upcoming seminar Insolvency Trends, Small Business Restructuring, Industry Pressures & Solutions focused on providing a comprehensive update on the insolvency market, small business restructuring, and addressing critical…
Australia has not been immune to the economic impacts of global financial and geopolitical events. The recent global economic downturn has brought about a heightened focus on financial stability and risk management in Australian businesses. Sponsors and financiers alike are now navigating a complex economic terrain marked by: volatile markets; supply chain disruptions; asset re-valuations;…
With businesses collapsing at levels not seen since 2012, Grant Thornton Australias John McInerney suggested that the small business restructuring scheme could be a more favourable option than a payment plan. He made the comments ahead of his session at the ACE24 Accounting Conference and Expo 2024, where he will unpack how accountants can help…
What is the Small Business Restructuring process? Australias Small Business Restructuring (SBR) process is a formal insolvency process introduced by the Federal Government in 2021 to give small businesses the opportunity to restructure their debts while directors remain in control of the business, under the supervision of a restructuring practitioner. The SBR process involves a…
South Australian small businesses are facing a choice between calling in the liquidators or bringing in restructuring firms to go on payment plans amid mounting tax debts owed to the Australian Tax Office (ATO). At an information night held three weeks ago by licensed small business restructuring (SMB) firm Small Business Restructuring Specialists, five clients…
More than three million Australians will have their student debt wiped in a bid to win over younger voters crushed by the cost of living crisis. Education Minister Jason Clare on Sunday announced the government would cap the Higher Education Loan Program (HELP) indexation rate, eliminating about $3 billion of student debt. The capped rate…
Every year on June 1, student debt in Australia is indexed to inflation. In 2023, high inflation pushed the indexation rate to 7.1%, the highest since 1990. This year, if there is no policy change, student debt balances will be increased by 4.7%. After sustained community pressure to change the way debts are indexed, the…