Wednesday, 04 November 2020 06:46
COUNCIL MELTDOWN: Dream team will try to repeat their success
DALLAS SHERRINGHAM
THE successful team of Dick Persson and Rik Hart faced their greatest challenge this week when they set out to find the source of an $89M hole in Central Coast Council’s accounts.
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Saturday, 31 October 2020 08:32
TIME TO EXPLORE NSW ON A PLAYCATION
Return to the golden days: Rebooting Tourism
DALLAS SHERRINGHAM
TWO thirds of Sydney and Central Coast holidaymakers will take a road trip in the coming months as Domestic holidays take over from Cruises and Bali, according to the latest State Government research.
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Saturday, 31 October 2020 08:21
REFORMS TO SUPPORT SMALL BUSINESS RECOVERY
THE Federal Government will undertake the most significant reforms to Australia’s insolvency framework in 30 years as part of the economic recovery plan to keep businesses in business and Australians in jobs.
The reforms, which draw on key features from Chapter 11 of the Bankruptcy Code in the United States, will help small businesses throughout the Central Coast restructure and survive the economic impact of COVID-19.
Federal Member for Robertson, Lucy Wicks said: “As the economy continues to recover, it will be critical that distressed businesses have the necessary flexibility to either restructure or to wind down their operations in an orderly manner.”
“The Morrison Government will continue to stand by the small and family businesses, by doing all we can to ensure these businesses come out on the other said of the pandemic.”
The reforms will assist incorporated businesses with less than $1M in liabilities covering around 76 per cent of Australian businesses subject to insolvencies today, 98 per cent of which have less than 20 employees.
“Together, these measures will reposition our insolvency system to reduce costs for small businesses, reduce the time they spend during the insolvency process, ensure greater economic dynamism, and ultimately help more local businesses get to the other side of the crisis.”
“These reforms give more support for businesses across the Central Coast who have been hit hard by the COVID-19 Pandemic.”
Earlier this year the Morrison Government announced temporary regulatory measures to help financially distressed businesses get to the other side of COVID-19.
On September 7, 2020 the Government announced a further extension of this relief to December 31, 2020.
The new processes will be available for small businesses from January 1m, 021.
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