Search
Your search for "part x" matched 17 page(s).
Showing results 1 to 10.
Part X - Personal Insolvency Agreement
Part X (Part 10) of the Bankruptcy Act allows a debtor to enter into an arrangement with their creditors to satisfy their debts without being made bankrupt. This arrangement is called a Personal Insolvency Agreement. A debtor will usually use a…
A Part X - PIA could be to your and your creditors’ benefit
Macks Advisory’s recent handling of a Barrister’s insolvency benefited both him and the people to whom he owed money. Under Part X of the Bankruptcy Act 1966 a Personal Insolvency Agreement (PIA) was negotiated by Peter Macks as Trustee between the…
How a Part X Personal Insolvency Agreement could be of life-changing benefit to you
Thousands of directors are investigating how a Part X Agreement might benefit them as the Australian Tax Office (ATO) steps up efforts to recover $46bn in unpaid tax deemed recoverable. Such Agreements provide regulated means of managing personal…
Both insolvents and creditors benefit in the Part X regime
The Part X regime provides a framework for debtors to deal formally with creditors by way of a proposal which satisfies creditors and clears debtors of debt if agreed to. Part X is part of the Bankruptcy Act and is often considered as an option by…
Bankruptcy - Part X
A person is legally insolvent if they are unable to pay their debts as and when they fall due. A person may become bankrupt in one of two ways. They may bankrupt themselves by filing and lodging a debtor’s petition and a Statement of Affairs with…
SA wine industry coming to grips with its demons: Part 2: WET rebate
In the second of a two part series (part one is located here), we look more specifically at the Wine Equalisation Tax (WET) rebate and the Sustainability Australia Winegrowing (SAW) program. The Federal Government Treasury Department has issued a…
Engage
Macks Advisory helps companies unlock value in insolvent or near-insolvent situations. Macks Advisory is a boutique advisory firm specialising in Corporate Advisory, Restructure & Turnaround and both Corporate & Personal Insolvency. Our…
Bankruptcy is not the only option
Often people are faced with an ongoing struggle to meet their current financial commitments, which is accompanied with the feeling that it is all too hard. This is so overwhelming that they believe it would be easier for all parties concerned if…
10 expectations SMEs may have of their accountants
What the owners of small to medium enterprises (SMEs) want from their accountants, and what their accountants give them, may not coincide. Tax matters: Getting their tax returns done by accountants with precision and on time is a primary…
Clearly there's need for action to curb the late payment scourge.
Late payments are one of the biggest drivers of cash flow issues plaguing SMEs and a primary reason for insolvencies, according to Australian Small Business and Family Enterprise Ombudsman (ASMFEO) Kate Carnell. She says that since an inquiry by her…