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AFSA has recently launched a campaign to raise awareness of dodgy insolvency advisors who exploit people when they seek help to manage debt.
A reminder that new industry-wide conditions for all registered debt agreement administrators (DAAs) will commence on 1 January 2021.
Over 2020–2021, AFSA will provide information to help guide prospective applicants through the process of applying for registration.
The survey asked further questions about the health of the industry during the challenges presented by COVID-19.
Whilst the unprecedented global crisis continues due to the COVID-19 pandemic, it remains important for all personal insolvency practitioners to continue to remain vigilant and ensure that their fraud risk management capabilities remain effective.
Many businesses are experiencing financial stress due to the conditions created by the COVID-19 pandemic. Small business owners need to take action and properly manage financial and operational difficulties.
As part of AFSA’s ongoing efforts to provide relevant guidance to personal insolvency practitioners, we have published two new Inspector-General guidance documents.
Insolvency practitioners have faced a number of challenges since the COVID-19 pandemic took hold earlier this year, in particular the ability to obtain evidence from people being made bankrupt and their associated entities to effectively administer bankrupt estates.
When interacting with the ATO, the ATO Business Portal is the preferred method. The portal is an electronic service available to insolvency practitioners and can be used to manage the tax affairs of incapacitated entities.
The Bankruptcy Act 1966 gives the Official Receiver particular powers in certain situations to help trustees administer bankrupt estates.