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AFSA has changed the way we distribute bankrupt estates to registered trustees (RTs) working in the private sector.
AFSA is seeking your feedback on proposals to improve the accessibility of our guidance resources. Consultation closes on 1 October 2021.
From 2 August 2021, Australian personal insolvency laws have applied to Norfolk Islanders.
On 1 July, AFSA updated IGPS 14 - Referring offences against the Bankruptcy Act 1966 to the Inspector-General.
AFSA published guidance last year on virtual creditor meetings in light of the COVID-19 pandemic. We have since amended our webpage to make clear that such a meeting may be at a physical location, by phone conference, a web-based video conferencing facility or a combination.
A new online course is available for financial service professionals that focuses on how to help co-workers and clients experiencing mental health concerns, particularly those experiencing financial difficulties.
Sometimes bankrupt individuals own investment properties which are leased at the date of bankruptcy and therefore vest in their trustee. This raises the question of how the rental receipts should be treated.
It has been more than six years since the Full Federal Court delivered its judgment in Di Cioccio v Official Trustee in Bankruptcy. We’ve revisited the case again in light of a couple of subsequent decisions.
In July 2021, AFSA released the Personal Insolvency Compliance Program 2021-22, Regulatory Charter, and Regulatory Cooperation and Support Policy.
The ATO’s new service, ‘Online services for business’, is now available with a number of new features.
Non-compliance of a 77A notice is a complex area where we need to establish that a respondent of the notice is in possession of the books of the associated entity. In this edition, we explore some examples to understand section 77A and associated entities.
We’ve outlined some court decisions that have recently been handed down relevant to personal insolvency in Australia.
New laws have been introduced to bring Western Australia into line with the federal approach to splitting superannuation for de facto couples and extend federal bankruptcy jurisdiction to the Family Court of Western Australia.
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