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Court-ordered winding up, also known as liquidation, is a legal process in which a court orders the dissolution of a company, and sale of its assets to pay off its debts. Typically, this process is initiated by a creditor or director who is owed a substantial amount of money by the company and has exhausted other means of payment recovery.…
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The Australian government has made several changes to tax and superannuation regulations that will affect small business entities. Here are some of the key points to keep in mind: Temporary Full Expensing and Instant Asset Write-Off The government will not extend the Temporary Full Expensing measure beyond 1 July 2023, which means that if eligible businesses planned to make significant…
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His widow stated that it did not constitute a BDBN as it did not show intention that it would bind the trustee of the Fund and therefore the trustee had discretion to distribute the funds elsewhere.
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The issue was whether the applicant, a trustee of the superannuation fund was validly removed in 2015, whether the respondent was validly appointed at that time as a trustee and whether a Binding Death Benefit Nomination (BDBN) dated 4 January 2017 is invalid?
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The COVID-19 Business Hardship Grant that was introduced by the SA Government for businesses impacted by health restrictions that were in place from 27 December 2021 to the 9th of January 2022.
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Trusts and companies are used to stream income between partners with unequal income rates. Millions of companies and trusts exist for the sole purpose of alienating income.
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So, you an employed physiotherapist who travels with the South Australian Men’s and Mixed Netball Championships to the Gold Coast for a week. You didn’t get paid but you did pay for food, travel, and tubs full of that magical cream that gets really hot when you rub it on things… are all these expenses deductible?
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Double taxation treaties as they apply to the treatment of capital gains.
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If no defence is filed by the debtor, the Magistrates Court will enter judgment against the debtor at your request 21 days after the date of service of your claim. Similarly, the District Court may enter judgment against the debtor if they fail to file a Notice of Address for Service within 28 days.
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Terms of Trade are important for businesses because they record the terms on which you provide goods or services to your customers. It constitutes a contract between you and your customer. Without Terms of Trade in place, you can be left with limited legal recourse against your debtors. Good Terms or Trade improve your chances of recovering bad debts.
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Narumon Pty Ltd (2018) QSC 185
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