Insights

AFSA have reworded their regulatory priority re proposals to creditors for FY27 having removed the words “avoid bankruptcy” and “defeat creditors”. “Use of personal insolvency proposals to hide wealth resulting in unfair outcomes and undermining confidence in the process.” There was no acknowledgement that the previous priority did not make sense as discussed in our related post below. Credit where credit is due, at least this version is grammatically correct.

The Government introduced the Payday Super legislation to Parliament on 9 October which is expected to take effect on 30 June 2026. Much has been written about the worthy goal of reducing the $5.7 billion unpaid super problem balanced with the costs to business (especially small business) in terms of additional working capital requirements to make payments sooner. Much less has been said about the practical problem of getting each payment into a superfund on payday, as I iden

In good news for liquidators, ASIC has announced the estimated Industry Funding Levy for FY25 will be $29.50 per notifiable event (a...