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ATO resumes debt recovery – Directors’ potential personal exposure

With the end of Jobkeeper and a growing $53 billion debt book, the ATO has announced that from the end of March 2021 it will be focussing on recovering taxation debts, including “taking debt and lodgement compliance action”. Now is the time for Directors and their advisors to ensure they fully understand the tax laws […]

Benefits of Member Voluntary Liquidation

Hamilton Murphy Advisory encounters many situations where long established “asset rich” company structures continue to be maintained where it may be preferable and more beneficial that that the assets now be in the hands of the shareholders. Members Voluntary Liquidation enables the company assets to be distributed (transferred) to the shareholders with the following potential […]

Safe Harbour

Attempting to salvage a company on the brink of collapse through restructuring efforts is something that is cautiously approached by directors or those acting as shadow directors due to the risk and threat of an insolvent trading liability. This risk is particularly concerning because the ability to determine a company’s solvency at a specific point […]

Biggest Changes to Insolvency Rules in 30 Years

Insolvency Reforms to Support Small Business – More Options for SMEs On 23 September 2020, the Federal Treasurer announced proposed reforms to the Australian insolvency regime with an implementation date of 1 January 2021. This Bill has now been passed both Houses of Parliament, effective 10 December. The proposed reforms provide business owners in financial […]

Proposed Insolvency Reforms – Time To Act

There has been a lot of press and discussion around the Government’s proposed reforms to the Corporations Act particularly with respect to streamlining the insolvency process for small businesses. Whilst the proposed reforms have only just been tabled in parliament with an intended effective date of 1 January 2021, whether that date is achieved or […]

Gender Diversity Firm of the Year, 2020

We are honoured to have participated and won the WIRV, Gender Diversity Firm of the Award 2020. Congratulations to all of the finalists. We would like to acknowledge and thank the entire Hamilton Murphy – Restructuring | Insolvency | Bankruptcy team for their continued contribution, we are extremely proud of each and everyone of you.

Hamilton Murphy Advisory named as a finalist for the 2020 WIRV Awards!

Hamilton Murphy – Restructuring | Insolvency | Bankruptcy are thrilled to be named as a finalist for the 2020 WIRV Awards, Gender Diversity Firm of the Year! Hamilton Murphy approaches gender diversity and career progression by providing a supporting environment for all staff to grow. Most recently, more females have been promoted into management roles than […]

The Australian Law Reform Commission

The Australian Law Reform Commission The Australian Law Reform Commission report, Corporate Criminal Responsibility (Report 136, 2020), was tabled in Parliament yesterday, 31 August 2020, by the Attorney-General, the Hon Christian Porter MP. The implementation of the 20 recommendations made by the ALRC will significantly strengthen and simplify the Commonwealth corporate criminal responsibility regime. The […]

New Anti-Phoenixing Legislation

The Federal Government has recently passed new legislation further strengthening its ability to combat illegal phoenix activity and those who engage in it. Illegal phoenix activity has been described by the Australian Securities & Investments Commission as being where a new company is created to continue the business of an existing company that has been […]