Proposed changes to insolvency laws, currently before Parliament, could see the bankruptcy discharge period in Australia reduced from three years to one. Critics, including CPA Australia, say proposed changes to bankruptcy laws will cause more harm than good. Heres what you need to know.
By Zilla Efrat
The proposals, contained in the Bankruptcy Amendment (Enterprise Incentives) Bill 2017, were endorsed by the Senates Legal and Constitutional Affairs Legislation Committee in March following an inquiry.
This is not the first time that Australias bankruptcy discharge period has fallen to one year. The Bankruptcy Act 1966 previously allowed an early discharge after 12 months at …
Read the full article at: https://www.intheblack.com/articles/2018/04/06/australias-bankruptcy-laws-changing