As part of our economic recovery plan, the Morrison Government is pursuing further measures to improve Australias insolvency framework for both small and large businesses.
In the 2020-21 Budget, the Government announced the most significant reform to Australias insolvency framework in 30 years. These reforms, which came into effect on 1 January 2021, created a new simplified restructuring and liquidation process for small companies and has given directors the control and flexibility they need to either restructure or wind down operations.
As a result of the strength and speed of Australias economic recovery and the temporary regulatory measures put in place to protect small businesses from insolvency during the p…
Read the full article at: https://www.miragenews.com/further-insolvency-reforms-to-support-business-553165/
