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Visit our dedicated small business restructuring site for small business owners facing financial distress.
The ACCC and ASIC have released a detailed guideline explaining how debt collection practices are regulated under Commonwealth consumer protection law. It sets out how each agency enforces the law, defines key terms such as 'debt' and 'debtor' (including alleged debts and debtors), and includes appendices covering agency responsibilities and a glossary of terms to help collectors and creditors understand their obligations.
Further Reading
Title | Short Summary |
|---|---|
ATO's Directors Penalty Notice Information | An explanation of the Director Penalty Regime, how directors can become personally liable for unpaid company tax debts, and why acting early matters. |
AFSA's Guide on Personal Bankruptcy and Company Liquidation | This guide, created jointly by AFSA in collaboration with ASIC and ARITA, offers essential insights into how personal bankruptcy and company liquidation interact. |
AFSA's Dealing with Debt | AFSA provides strategies and insights for small businesses grappling with debt management and the implications of bankruptcy. |
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