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Safe Harbour Industry News

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News about Safe Harbour

Insolvency Reform to Support Small BusinessesInsolvency Reform to Support Small Businesses

Insolvency Reform to Support Small Businesses

The year 2020 will not be forgotten any time soon and the impact of COVID-19 will remain well beyond the release of a vaccine. The pandemic has had no boundaries with the small business sector one of the hardest hit.

temporary relief for financially distressed businessestemporary relief for financially distressed businesses

Temporary relief for financially distressed businesses

For many businesses, 2020 will be the defining year in their business cycle. The economic impact of COVID-19 has placed an extraordinary amount of businesses under financial distress. Many have been forced to halt operations and re-evaluate whether resumption is a viable option.

boats in safe harbourboats in safe harbour

How Will Safe Harbour Impact Australian Company Directors ?

Company directors need to be aware that the safe harbour provision won’t cover all debts – it only covers those incurred in relation to the course of action taken.