| Description |
xii, 78 pages ; 25 cm |
| Series |
Parliamentary paper / Parliament of the Commonwealth of Australia, 0727-4181 ; no. 190 of 2004 |
|
Parliamentary paper (Australia. Parliament) ; 2004, no. 190
|
| Contents |
1. Introduction -- 2. Overview of the proposed bill -- 3. Recovery of property amendments: proposed new Division 4A of Part VI of the Bankruptcy Act -- 4. Bankruptcy and family law amendments -- 5. Supervised account regime -- 6. Financial agreements -- Appendices |
| Summary |
The purpose of this Inquiry was to consider whether the Bankruptcy Legislation Amendment (Anti-Avoidance and Other Measures) Bill 2004 adequately addressed problems identified in a Joint Taskforce Report on the "Use of Bankruptcy and Family Law Schemes to Avoid Payment of Tax" (January 2002). The Taskforce had identifed the problem of a small but significant number of high-income debtors, typically high earning fee-for-service professionals, who use bankruptcy to avoid paying their taxation and other debts. The problems identified by the Taskforce formed the basis of the Terms of Reference for this Inquiry: (a) high income earners using bankruptcy to avoid paying debts that they can afford to pay, while continuing to enjoy a lifestyle made possible through the build up of assets in the name of third parties; (b) the uncertainty arising from the interaction between family law and bankruptcy; (c) the inadequacy of the current income contributions scheme in circumstances where a bankrupt chooses not to comply; and (d) the use of financial agreements to defeat the claims of creditors |
| Analysis |
Bankruptcy |
|
Creditors |
|
Family law |
|
Bills |
|
Legislative amendments |
|
Bankruptcy Act 1966 |
|
Bankruptcy Legislation Amendment (Anti-Avoidance and Other Measures) Bill 2004 |
| Notes |
"July 2004" |
|
At head of title: The Parliament of the Commonwealth of Australia |
| Bibliography |
Includes bibliographical references |
| Notes |
Also available in an electronic version on the Internet. Address as of 28 Sept. 2004: http://www.aph.gov.au/house/committee/laca/bankruptcy/report/front.pdf |
|
System requirements: Adobe Acrobat Reader required to view/print PDF files |
|
Commonwealth of Australia 2004 |
| Subject |
Australia. Parliament. House of Representatives. Bankruptcy (Anti-Avoidance and other Measures) Amendment Bill 2004
|
|
Australia. Parliament. House of Representatives. Bankruptcy Legislation Amendment Bill 2004
|
|
Bankruptcy -- Australia.
|
| Author |
Bishop, Bronwyn, 1942-
|
| ISBN |
0642784833 |
|
