In the first 6 months of the current financial year, (July to December) BICB reported liquidations averaged 50 per month compared to 25 per month last year. This is significantly higher, 100%, than last year. Growth in members data would account for some of this increase.
Liquidators were appointed to 61 companies listed in BICB’s database during the month of December 2018. This is the highest ever recorded for a single month by BICB. QLD-16, NSW-13, VIC-20, SA-4, WA-7, NT-1.
Just because a liquidator asserts you have received an unfair preference, does not necessarily mean you have or that there are no potential defences available to you. The Corporations Act 2001(Cth), enables liquidators in certain circumstances to claw back payments made by a debtor company to an unsecured creditor where the payment was made to
Changes to QBCC financial (effective from 1st January 2019) mean that licence holders in Categories 1-3 (turnover between $600,001 – $30,000,000) will need to provide reports annually about their financial position prepared under the Australian Accounting Standards including: – a profit and loss statement; – a debtors and creditors report; and – a statement of
Australia’s Housing Industry Association (HIA) has warned that tighter lending standards risks exacerbating the downturn in residential construction activity already under way. The HIA is forecasting that housing starts will slow to 183,230 by the 2020/21 financial year, more than 50,000 less than the peak of 233,970 homes that began construction in the 2015/16 financial
Tax Integrity — disclosure of business tax debts — amendments The Government will amend the 2016-17 MYEFO measure Tax integrity — improve the transparency of taxation debts to increase the threshold of business tax debts that can be disclosed to credit reporting bureaus from $10,000 to $100,000; introduce a requirement that the Minister consult with
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