Tax Insight: Reduced corporate tax rate – New passive income test

Yesterday, the Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017 was introduced in the House of Representatives, placing further limits on the eligibility for the reduced corporate tax rate, currently 27.5%. What’s changed? Currently, a company qualifies for the reduced corporate tax rate of 27.5% if they are a corporate tax entity … Read more

21st Edition – National Insolvency & Reconstruction Quarterly Review

Welcome to the latest edition of our National Insolvency & Reconstruction Quarterly Review for the period 1 July 2017 to 30 September 2017. A significant amount of activity has occurred in our space over the last quarter and we outline a few of those matters in this edition. In particular, our team: Examines some of … Read more

Pre-appointment work – where is the line?

The importance of a Declaration of Independence, Relevant Relationships and Indemnities (DIRRIs) and the independence of external controllers has been a focus for an extended period of time, since before the ASIC v Franklin decision. ┬áIn increasingly large and complex insolvency matters, the issues of independence and its perception of independence are matters that not … Read more

In the matter of Ten Network Holdings Limited (Administrators Appointed) (Receivers and Managers Appointed) and Others [2017] NSWSC 1247

Background The Ten Group of Companies (Ten Group) entered into voluntary administration on 14 June 2017 and appointed Mark Korda, Jarrod Villani and Jenny Nettleton of Korda Mentha as joint and several administrators (Administrators) of each of the companies within the Ten Group. On 7 August 2017, the Administrators invited the submission of recapitalisation and … Read more

Insolvency Law Reform – A new world for creditors after 1 September 2017

The Insolvency Law Reform Act 2016 (Cth) (ILRA) has introduced an extensive suite of changes to insolvency law. The reforms have been implemented in two tranches, the first of which commenced on 1 March 2017 and the second tranche of reforms commenced on 1 September 2017. As part of the reforms to insolvency law, the … Read more