Who and what is a company public officer?

A public officer is a company’s representative to the ATO and is responsible for the company’s obligations under Section 252 of the Income Tax Assessment Act 1936.  The public officer is responsible for the company complying with the act and is also liable for the...

What happens to Superannuation in bankruptcy

If someone is in financial strife, one option is to declare bankruptcy.  But what happens to their superannuation (super)? The Bankruptcy Act 1966 defines super as a ‘on-divisible asset’ – in other words, it’s protected from creditors.  Therefore, once someone has...

Landmark Decision Puts Employees First in Insolvency

A recent High Court judgement has helped resolve uncertainty around the treatment of employees in the insolvency and winding up of trading trusts. In June this year, the High Court of Australia dismissed an appeal in Carter Holt Woodproducts Australia Pty Ltd v The...