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Back to Basics: What is a Creditors Voluntary Liquidation? Brett Goldman, Assistant Manager A creditors voluntary liquidation or CVL, as commonly referred, is the process whereby the assets of a corporation are realised in an orderly manner and the proceeds distributed amongst creditors of the company in satisfaction of their claims against the company. Any […]

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The Sneakerboy Group of Companies today announced that Stephen Dixon of Hamilton Murphy Advisory has been appointed as Voluntary Administrator to the Companies. The Voluntary Administration appointment has been made due to short term financing difficulties being experienced by the Company.   The difficult but prudent decision has been made to initiate the Voluntary Administration […]

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Stephen Dixon and Trent Hancock are delighted to announce a recent change to our corporate structure. As a result, Stephen and Trent are now the equity Partners of HM Advisory Pty Ltd, trading as Hamilton Murphy Advisory. Richard Rohrt will continue his valued contribution to the firm as a consultant. We thank Richard for his […]

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Creditors are no longer entitled to utilise the right of set off pursuant to Section 553C against their outstanding debt owed in a liquidation as a defence against an unfair preference claim commenced by a liquidator. What is Mutual Set-Off? A Mutual Set-Off occurs when a company and a creditor have mutual dealings with each […]

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The Morrison government says it is committed to “further simplify and streamline” Australia’s insolvency regime, with three (3) key areas of focus in the federal budget and plans to spend $29.8 million over four (4) years, from 2022-23, on insolvency reforms.  The key areas earmarked include:  Plans to spend $7 million “to clarify the treatment […]

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Tax relief for small businesses means they have more money to take on an extra worker, offer an extra shift or buy a new piece of equipment. The Government will deliver more than $21 billion in tax cuts to small businesses from 2015-16 to 2024-25, with around $2.6 billion flowing in 2022-23. This includes lowering […]

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BOOSTING WOMEN’S ECONOMIC SECURITY & CREATING PATHWAYS FOR WOMEN LEADERS Budget 2022-2023 is providing $482.0 million to help women advance their careers and improve their economic security. The 2022-23 Women’s Budget Statement includes new measures to ensure women are even better equipped for the jobs of the future. Funding of $56.2 million is being provided to […]

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In the 2022 Budget Release, the government announced changes that will affect annual company registration payments and search fees via the Australian Securities and Investments Commission (ASIC) platform. Fees paid to ASIC for company searches on its website will be removed from September 2023 when the new “Australia’s Business Registers” online platform is due to […]

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From 1 July 2022, small businesses will need to pay super to employees who earn less than $450 per month, provided they meet other eligibility requirements. This change expands super guarantee eligibility so that employees can receive super regardless of how much they earn. As we move closer to 1 July 2022, the ATO suggests confirming that […]

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Hamilton Murphy is a proud participant of the Chartered Accountants Australia and New Zealand Achiever Program. Best wishes to all students applying to this exciting program. We are looking forward to welcoming our next Achiever intern over the winter. Applications for the Achiever Program are open until Sunday 27 March 2022. If you are studying […]

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