As Bankruptcy Trustees, we are often asked to assist individuals of many and varied ages on personal insolvency options available to them. Individuals generally have differing financial circumstances and the advice provided needs to be considered on a case by case basis. With Australia’s ageing population, we have received enquiries (and anticipate in the future […]
Author Archive for: Martin
About Martin Vu
Martin joined Jones Partners in 2008 after obtaining a Bachelor of Commerce Degree from the University of New South Wales.
He is a member of the Institute of Chartered Accountants in Australia and the Australian Restructuring Insolvency and Turnaround Association.
Entries by Martin Vu
In August 2016, the Reserve Bank of Australia (“RBA”) cut the cash rate by a quarter of a percent to 1.5%. Last year also saw dramatic growth in median real estate prices particularly in Sydney city and metropolitan suburbs. The growth in the property market can be attributed to a number of factors including the […]
When loaning money, creditors commonly take security over a borrower’s assets. If this is not sufficient, the creditor may also seek security from related parties as collateral for the principal borrower’s obligations. One of the most common securities given is a personal guarantee. Where two or more parties guarantee a loan or debt obligations of […]
People often associate the word “liquidation” with insolvency or the failure/collapse of a company. While this may generally be the case, Members Voluntary Liquidations (“MVLs”) relate to the winding up of a solvent entity and fulfil quite an important purpose. MVLs occur where the company has sufficient assets to pay all its liabilities within a […]
Bankruptcy Trustees have a wide range of powers to recover property for the benefit of creditors. This power is not just limited to realising divisible property that was owned by the individual at the commencement of the Bankruptcy or which is acquired during Bankruptcy and prior to discharge. The provisions in Division 3 of the […]
The DPN Regime was introduced by the Australian Taxation Office (“ATO”) in 1993 as a method to ensure corporate compliance with taxation liabilities. Under the DPN regime, directors could become personally liable for the company’s debts under certain circumstances. The primary objectives of the DPN regime were to ensure directors caused the company to meet […]
Previously, the Australian Taxation Office (“ATO”) were able to issue Director Penalty Notices (“DPN”) to make directors personally liable for unpaid Pay As You Go (“PAYG”) Withholding tax obligations that were not paid by the due date. The ATO were able to issue a DPN to the director for an amount equal to the unpaid […]