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What are the 3 Types of Bankruptcies in Australia?
When you're dealing with unmanageable debt and can't pay everything off, understanding your legal options can feel overwhelming. The term "bankruptcy" is often used broadly, but in Australia there are...
What is a Director Identification Number? | A Guide to DINs
A Director Identification Number is a unique 15-digit identifier issued to every director of a company registered in Australia. Introduced under the Modernising Business Registers program, it became a new...
Receivership vs Liquidation | Understanding the Difference
Companies in financial difficulties may enter either receivership vs liquidation, depending on how their debts and creditor relationships unfold. While both are forms of external administration, they follow different legal...
How Long does Bankruptcy Last in Australia?
Bankruptcy in Australia lasts 3 years and 1 day, beginning on the date that your Statement of Affairs (bankruptcy form) is accepted by AFSA (Australian Financial Security Authority). This is...
What is Cross Border Insolvency?
When multinational companies collapse, legal proceedings can be a lot more complex than domestic businesses. Having assets, creditors and ops scattered across multiple countries means balancing different legal systems, which...
Are Business Losses Tax Deductible?
Yes, you can claim business losses as a tax deduction in Australia. If your business loses money, sometimes you can use those losses to lower your other income reflections. This...
What is a Deed of Company Arrangement in Australia
A Deed of Company Arrangement (also known as a DOCA) is a deal between your company and the people it owes money to. It promises them that you will pay...
Director Penalty Notice in Australia
A Director Penalty Notice is an official letter the Australian Taxation Office sends when your company hasn't paid certain tax debts. As a director, you can become personally responsible for...
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