partner visa sponsor going bankrupt... - Page 5

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partner visa sponsor going bankrupt... - Page 5


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  #41 (permalink)  
Old 07-09-2014, 02:08 PM
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That is interesting because when I did bankruptcy at uni it was bankruptcy act 1966.

Here is a page for you: https://www.afsa.gov.au/debtors/bank...-when-bankrupt

Look at point 21. There is alot of interesting things.

The thing that I remember about law is that it can be interpreted different ways too and sometimes it is not black and white.

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  #42 (permalink)  
Old 07-09-2014, 10:26 PM
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He doesntThe law changed this year! New rule under section 48 dated 2014 PS LA 2011/17 - Debt relief (As at 3 July 2014)

He doesn't earn over the indexed amount ive already said that. And quite literally it kn there in black and white it is an irrecoverable debt once listed on a bankruptcy.


Last edited by hime-sama; 07-09-2014 at 10:35 PM.

  #43 (permalink)  
Old 07-09-2014, 10:38 PM
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Quote:
Originally Posted by hime-sama View Post
He doesntThe law changed this year! New rule under section 48 dated 2014 PS LA 2011/17 - Debt relief (As at 3 July 2014)

He doesn't earn over the indexed amount ive already said that. And quite literally it kn there in black and white it is an irrecoverable debt once listed on a bankruptcy.
That is not a law. It is a practice statement issued by the ATO which is determined by law. All they did was update the previous practice statement based on the legislation.

Check out paragraph 49 which mentions that they may re-raise it if the circumstances change.


Last edited by Mish; 07-09-2014 at 10:47 PM.

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  #44 (permalink)  
Old 07-09-2014, 10:43 PM
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Well even so its still legally binding amd states they can't touch him. It even says that at the top. This is for use of the public so they know where they stand


  #45 (permalink)  
Old 07-09-2014, 10:50 PM
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Quote:
Originally Posted by hime-sama View Post
Well even so its still legally binding amd states they can't touch him. It even says that at the top. This is for use of the public so they know where they stand
It can be withdrawn at any time.

But paragraph 49 states that if the circumstances change they may re-raise the debt.


  #46 (permalink)  
Old 07-09-2014, 10:52 PM
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It shows that legislation and practice statements are both not clear cut. Ring the ATO and ask them.

I know of someone who had theirs re-raised but they got a better job during the bankruptcy period, so their circumstances changed.


  #47 (permalink)  
Old 07-10-2014, 07:40 AM
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I rang the bankruptcy lawyer: she said they can only re raise tax debts of companies and directors of companies not individual/sole traders. She's been dealing with this stuff for sixteen years day in day out. I didn't post on this forum to be hounded about bankruptcy anyway I asked if it would affect immigration not the legal ins and outs of it thats why I paid for a professional to deal with it.


Last edited by hime-sama; 07-10-2014 at 07:52 AM.

  #48 (permalink)  
Old 07-10-2014, 07:46 AM
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That is good to know in your case. Not sure what happened in the case of the person I know.


  #49 (permalink)  
Old 07-10-2014, 09:02 AM
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"Partner Visa going Bankrupt" the title you posted was Bankrupt not Immigration, 16 years is a long time most good agents in this field demand about $1,000 per hour of their time or more.

I suggest you pay 2 hours of a Tax Lawyer specialist to get better advise - I believe your advice is marginal - don't forget they take your money regardless of what happens. And be happy for people that want to help you on what they know or FAR more than 16 years experience in on job knowing that the ATO never lose.

Maybe Ask Paul Hogan? I know others with many tax debts, some in the millions, the ATO is supported by the Government that needs and will need for long as much tax money as it can find. It is that simple!

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  #50 (permalink)  
Old 07-10-2014, 09:15 AM
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Quote:
Originally Posted by ampk View Post
Maybe Ask Paul Hogan? I know others with many tax debts, some in the millions, the ATO is supported by the Government that needs and will need for long as much tax money as it can find. It is that simple!
That is very true! Also because they are government funded they could very well amend the bankruptcy act down the track. Especially if the government is in need of money.

Ampk are you an Accountant?


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