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May 2015
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Welcome

As we approach the middle of the year, we have already seen 2 interest rate reductions lowering the official cash rate to 2% - the lowest since the Central Bank was established in 1959. With what real effect though - ther than if you own property in certain NSW or Victorian postcodes! Will the Federal Government May Budget deliver the shot in the arm that the economy needs? There are many that are desperately hoping it will. However, the results from a recent NAB survey commented "until confidence lifts significantly, it is difficult to see a sustained economic recovery developing - to date, rate cuts have not appeared to do much".

Confidence is a state of mind - individuals and business [particularly family businesses] must believe that there is actually an opportunity to be gained by setting up and most likely going into debt to "give it a go". Whilst offering one-off tax concessions may assist, it isn't the solution. With the continued decline in national bankruptcy numbers [which we believe are likely to be at their lowest levels since 1996 by 30 June 2015] and corporate insolvency numbers [well off their peak from post GFC levels] one could ask why isn't more happening activity-wise. This is an issue we shall be considering in our 2015 Jones Partners Insolvency Report out later this year. In the meantime, we hope you enjoy the articles and welcome any feedback or enquiry.

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Bankruptcy and the Family Home Part 2 -The Doctrine of Exoneration
Bankruptcy and the Family Home Part 2 -The Doctrine of Exoneration
Written By Bruce Gleeson,
FCA Principal
In the February 2015 newsletter I wrote about bankruptcy and the family home and typically what happens when an individual enters into bankruptcy and has an ownership interest in the family home....
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When can a bankruptcy get extended?
When can a bankruptcy get extended?
Written By David Shannon,
CA Principal
When an individual enters into voluntary bankruptcy, they generally remain bankrupt for a period of three (3) years. Under the provisions of the Bankruptcy Act ("the Act"), a person is bankrupt for a peri...
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Repeal of the Loss-Carry Back Tax Offset: Why companies may now be liable?
Repeal of the Loss-Carry Back Tax Offset: Why companies may now be liable?
Written By Daniel Soire,
CA Principal
The Minerals Resource Rent Tax Repeal and other Measures Bill 2014 ("the Bill") received Royal Assent on 5 September 2014 and became law. IMPORTANTLY, the Bill included the repeal of the loss carry-back t ...
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