Whew what a roller coaster the last 12 months have been! Global pandemic, quarantine, self-isolation, lay-offs, retrenchments, stand-downs, ‘unprecedented times’, home schooling, multi-industry and economic downturns, jobkeeper, Mark McGowan, hand sanitiser, social distancing, rise in mental health issues, masks, masks and more masks … and that is all without even touching on the UK, Europe,… Read more

As of 1st January 2021, the temporary COVID-19 debt relief measures introduced by the Government have been removed. The temporary debt protection period pre-covid was 21 days; in March 2020, the Government extended this period to 6 months for applications made up to 31st December.  However that period has expired and from 1st January current… Read more

AFSA has recently released updated insolvency statistics showing that in the March 2020 quarter, personal insolvencies rose by 4.0% when compared to the previous quarter. Capital City Stats There were rises in all capital cities except for Greater Perth, Greater Darwin and the Australian Capital Territory. New personal insolvencies in regions outside capital cities fell… Read more

It’s always nice to have over-estimated, right?  Well, no. What happened?   A recent announcement by the Government has advised of an accounting error in relation to the number of businesses claiming the JobKeeper payment.  It has been put down to the ATO relying of business-owners to accurately input their own claim data.  Confusion during the… Read more

Temporary debt relief On 25 March 2020, the Government introduced temporary measures  to support individuals and businesses during this crisis. These include: Six month temporary debt protection Changes to bankruptcy notices Impacts to people who are currently bankrupt If you have been financially impacted by Coronavirus (COVID-19), you may be eligible to receive financial assistance… Read more

Caronavirus or COVID-19 has thrown the entire world into chaos.  Whilst we are all attempting to adhere to social distancing in order to flatten the curve, there is also the financial chaos which needs to be dealt with. Have you been stood down / laid off / had your income reduced? If you are one… Read more

Get your Debt under Control You want to navigate to a Balance Transfer Credit Card to pay off your debt during that helpful interest free period, but you’re unclear on how it works. What mistakes could you accidently make? Don’t worry. We’re here to help. Here are some top tips to save you interest costs… Read more

Twice a year, the Indexed Amounts are updated.  “What are Indexed Amounts?”  I hear you ask?? Well!  These are the limits applicable to certain aspects under The Bankruptcy Act, such as; The amount of income you earn whilst Bankrupt, before being required to make contributions to your bankrupted debts; The limits applicable to the value… Read more