“The reforms are a critical part of our economic recovery plan and will help to boost business confidence and dynamism across the economy by allowing viable businesses to survive as our economy rebuilds,” Mr Frydenberg said.
Loading
The changes come as Mr Frydenberg resets fiscal policy to drop old assurances about a return to surplus amid widespread estimates the October 6 budget will show a deficit of more than $200 billion.
The Treasurer will use a speech on Thursday to outline a two-step strategy that offers financial support during the recovery and is followed by a second phase that rebuilds the budget while keeping taxes low.
A crucial element of the formal strategy will be to maintain the existing cap on tax as a share of the ec…
Read the full article at: https://www.smh.com.au/politics/federal/businesses-can-keep-trading-bankruptcy-law-changes-to-keep-firms-open-20200923-p55ykb.html