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Timothy Beresford has been appointed as the new Chief Executive of the Australian Financial Security Authority. Timothy’s five-year appointment will start on 2 May 2022.
Recent floods have devastated many areas in Queensland and New South Wales, impacting thousands of Australians. AFSA expects practitioners to act with extra sensitivity and empathy in the current circumstances.
We have recently launched a campaign to support small businesses that may be experiencing financial difficulty, especially because of the COVID-19 pandemic.
We recently made changes to our insolvency guidance to make it easier to navigate and use, after having considered stakeholder feedback.
At the end of July 2021, AFSA announced a change in the way bankrupt estates would be distributed to registered trustees. To ensure the process was efficient and easy, the changes were initially trialled as a beta launch.
We have released a progress report to evaluate the effectiveness of the beta launch.
In April 2022, we will be seeking feedback from debtors and creditors to seek their perspectives of personal insolvency administration.
The ATO have provided an update on unfair preference claim forms, Online services for business, and their WebEx education sessions.
We’ve outlined some court decisions that have recently been handed down relevant to personal insolvency in Australia.
At the beginning of the COVID-19 pandemic in March 2020, AFSA provided additional aggregations of insolvency statistics on a fortnightly basis. From April 2022, these statistics will be released monthly.