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…
DetailsCredit: Pixabay/CC0 Public Domain Middle managers play an important role in an organization undergoing structural change. They are the ones who must implement the changes, but conversely, as employees, they will be subject to the very changes they put in place. This can often put them in a place of conflicting demands, where they must…
DetailsWhat 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…
DetailsSouth 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…
DetailsBy Gloria Methri Today Affordable Credit Clearer Clearscore Fair4All Finance has partnered with ClearScore to develop debt consolidation loan technology that will boost access to affordable credit for people in financially vulnerable circumstances. ClearScores proposition Clearer allows direct settlement of consumer debts, unlike most other debt consolidation loans. This eliminates the risk of funds being…
DetailsDebt relief can help you improve your credit score. Getty Images/iStockphoto If you’re thinking about enrolling in a debt relief program, you may be apprehensive about the impact doing so could have on your credit score. After all, these services may cause your score to fall, making it more difficult to access loans and credit…
DetailsAt a time of increased public debt globally, the rise of socio-economic and climate challenges as well as advances in technologies, that cut across traditional markets and policy areas, the importance of managing public debt successfully has grown. Governments worldwide implemented extensive fiscal measures to help mitigate the economic impact of the pandemic, leading to…
DetailsIt has been 33 years since the “recession we had to have” in 1991. Fears that Australia would enter a technical recession during 2023 didnt eventuate. At the time of writing, our economy continues to still be resilient (relying on massive population growth through migration) despite ongoing decreasing consumer sentiment but another year of slow…
DetailsAustralia will see a raft of reforms to the national bankruptcy system introduced so that debtors involved in personal insolvency matters receive fairer outcomes. On Monday, Attorney-General (A-G) Mark Dreyfus said key changes would lift the stigma associated with filing for bankruptcy. The changes include increasing the timeframe in which a debtor may respond to…
DetailsAttorney-General Mark Dreyfus said the amendments would ensure a fairer outcome for debtors in the personal insolvency system. Subscribe Subscribe to Regulation Asia to gain access to APACs leading platform for news, analysis, research and verified data on financial regulation. Select subscribe below to view our subscription packages or you can email us at [email protected]…
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