In short: Student debts will be lowered for more than three million Australians under reforms designed to stop HECS loans growing faster than wages. Loan indexation will now match whichever is lower out of the Consumer Price Index or the Wage Price Index which the government says will prevent another shock increase like last year’s 7.1 per cent…
DetailsPersonal Finance Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Loans Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Personal Loans I’m an…
DetailsThe global economy avoided what could have been a systemic debt crisis during the turbulence of recent years, but vulnerabilities remain amid high debt servicing costs that pose an important challenge for low and middle-income countries. Some may yet confront major tests. When countries do falter on debt, restructuring is critical to containing the damage.…
DetailsBrett McGrath, President of the Law Society of NSW, has renewed calls for a debt relief scheme to incentivise lawyers to practice in rural, regional, and remote (RRR) areas. During a visit to Lismore, which experienced a significant exodus of lawyers following the devastating floods in 2022, McGrath highlighted the urgent need for legal services…
DetailsAdvertorial ARYZAs new head of corporate insolvency, Tom OConnor. Aryza, a leading provider of financial software solutions, announces the appointment of Tom OConnoras its Head of Corporate Insolvency. With an extensive career spanning over a decade in the insolvency sector and a proven track record in product development and client engagement, Tom brings invaluable experience…
DetailsSeveral of these factors contributed to the rising levels of formal insolvency appointments and distressed asset sales seen over the past year, which is likely to continue into 2024. In this article, we look back at, and think forward to, the trends and legal developments which businesses, insolvency professionals, accountants and investors need to be…
DetailsThere has been an increase in company insolvencies in Australia. Startups and early-stage technology companies have not been shielded from this, with recent high-profile collapses including Tritium and Milkrun. In this article we discuss insolvent trading risks, the state of the startup market, unique risks to startups and the protections offered by the “safe harbour”…
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…
DetailsThe family has raised questions after a father of three went overboard from a cruise ship after losing $9,000 over two nights on the P&O Pacific Adventure. Shane Dixon, 50, first lost $5,000, then borrowed money off his mother and lost another $4,000. Dixons family maintained he was lured by high-roller incentives into losing the…
DetailsA 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…
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