| 13:10 Australia/Sydney
The Australian Government introduced insolvency reforms for small businesses that came into effect on 1 January 2021, including temporary restructuring relief. These reforms extend some of the temporary measures introduced in March 2020 in response …
| 13:05 Australia/Sydney
New insolvency reforms apply to incorporated small businesses with liabilities of less than $1 million. Reforms include new debt-restructuring and simplified liquidation processes. Government is creating a new ‘class’ of registered liquidator …
| 12:37 Australia/Sydney
ASIC has written to insurers in Australia calling on them to consider action ahead of the imminent La Nina event season – La Nina event seasons have an increased likelihood of flooding, cyclones and hailstorms Research commissioned by ASIC …
| 08:00 Australia/Sydney
ASIC invites licensees to consider how they can enhance their remediation design and execution practices using its new practical field guide, Making it Right. It was created in response to industry demand and answers the frequently asked …
| 16:05 Australia/Sydney
You may be entitled to compensation via the Freedom Insurance Remediation Program if you were sold a Freedom Insurance life or funeral insurance policy issued by either AIA Australia, NobleOak Life, or Swiss Re Life & Health Australia between …
| 14:40 Australia/Sydney
Identify the issues you need to consider if financial difficulties are affecting your small business. Three important questions all SME company directors should ask if the business is facing financial difficulty. This video outlines information …
APRA's weekly data on the superannuation early-release scheme (issue 36)opens in new window
The Government’s Early Release Scheme commenced on 20 April 2020 and was closed to new applications after 31 December 2020. This final issue that APRA will produce in this format covers data submitted through to 31 January 2021 to allow additional time beyond the closing date for final applications to be provided to funds by the ATO and for funds to process applications and complete payments.
Current COVID-19 (coronavirus) scamsopens in new window
The ACCC's Scamwatch has received over 4850 scam reports mentioning the coronavirus with over $5 820 000 in reported losses since the outbreak of COVID-19 (coronavirus). Common scams include phishing for personal information, online shopping, and superannuation scams.
APRA's weekly data on the superannuation early-release scheme (issue 23)opens in new window
Over the week to 27 September, superannuation funds made payments to 36,000 members, bringing the total number to 4.4 million since inception. The total value of payments during the week was $267 million, with $33.8 billion paid since inception. The average payment made over the period since inception is $7,671 overall and $8,384 when considering repeat applications only.
Charity scams on the riseopens in new window
Figures from Scamwatch show that charity scam reports have increased significantly in 2020. Reported scams are up nearly 70% compared to the same period in 2019, driven by charity frauds linked to the bushfire crisis.
Small businesses navigate COVID-19 pandemic, misconduct and scamsopens in new window
In January to June 2020, small businesses reported 1,200 scams with $4.5 million in losses to the ACCC. While this is fewer reports than in the previous six-month period, it is a more than threefold increase in losses.