What type of leader are you?
Most of us lead someone, somewhere, sometime. At work, at home and/or with friends. To the extent that we lead, we usually want to be good at it or like to think we are. But how do you picture or want to picture your leadership style? A benevolent dictator? An exemplar of unparalleled discipline, fabulous…
You can never stand in the same river twice
I keep hearing “When will we be returning to normal after COVID-19”, or from those who acknowledge some things may be permanently changed, the “new normal”. But I balk at the notion that we can ever be in a “normal” state. Returning to normal is not possible, no matter how defined. The world constantly changes,…
Directors – numbered for life
It’s on its way – a director ID (Director Identification Number). A unique identifier that a director will keep forever. The aim is to prevent the appointment of fictitious directors (Homer Simpson, Marilyn Monroe), and facilitate traceability of their profile and relationships with companies over time. Some detail: Expected to begin in the first half…
Positive psychology (a quest for the good life)
Is this for you? Or is it just “fluffy science” or “happiology”? Positive psychology is the scientific study of human flourishing, and an applied approach to optimal functioning. Positive psychology studies what makes life most worth living. Its theory is more than an edict to “be positive” and is far more than self-help material based…
Final chapter in Kleenmaid saga (ASIC’s final clean up)
Kleenmaid, a business founded by Andrew Young in 1980, was an Australian-owned domestic appliance importer and retailer, operating a chain of company and franchised stores across Australia. Its first product was an American-manufactured washing machine sold through appliance service agents. In 2008, rumours started to circulate about the financial stability of the company. Administrators were…
Super Duper – Pardon & Remission
(Super Guarantee Amnesty) Nearly two years after it was first introduced into parliament, the Superannuation Guarantee Amnesty was finally passed by parliament on Monday. The legislation still requires Royal Assent. Normally, if you are late paying your staff’s super: The super payments are not a deductible expense, and You will be charged stiff penalty interest…
Bancas Ruptus (Bankruptcy)
The word “bankrupt” is derived from two Italian words: banca (table or bench) and rotta (broken), which references Italian traders, who upon becoming insolvent, were said to have a “broken bench” (banca rotta) or in Latin, bancas ruptus. The word had its French equivalent, banqueroute. The term appears to stem from a widespread custom in…
On Truth and Lies – Mark Twain
“If you tell the truth, you don’t have to remember anything.” Mark Twain died on 21 April 1910. More than a hundred years ago. The only difference in his lifetime and ours, when contemplating lies and truth, is that today in the time it takes for the truth to put its shoes on, a lie…
Name & Shame: the new game for the ATO
The ATO’s hands are no longer firmly tied with confidentiality of taxpayer information provisions; the ATO can now divulge recalcitrant taxpayers. In a December 2017 LinkedIn article, I noted the Government’s announcement that it intended to introduce legislation to allow the ATO to report to Credit Reporting Bureaus (CRBs) the tax debt information of businesses…
Do you still have that asset? (Buying property owned by a deregistered company)
Recently I had an enquiry regarding a company from which I had retired as liquidator. The liquidation was long since finished and the company had been deregistered. The enquirer had acquired the company’s former business name and wanted to know if I had any leftover marketing material (or anything else) bearing the business name that…
One-year bankruptcies – Dead as a Dodo
Since October 2017 I’ve been writing about the controversial, long awaited, much anticipated and debated proposal to reduce the current minimum bankruptcy term from three years to one year. The proposal was contained in the Turnbull Government’s National Innovation Statement issued on 7 December 2015. Since then progress to implement the proposal has been slow,…
“Let me at the directors”
(Creditors’ right to pursue an insolvent trading claim) “I’m owed money…. I want to have a go at the directors for insolvent trading” Joe Supplier (creditor). The oft heard catchcry of the unsecured creditor at the start of a liquidation. Well, yes you can, subject to certain restrictions and conditions. But the ball starts in…