Increase in statutory demand threshold for debts?
If you run a small business or any business for that matter, you may be interested in the current government consultation to increase the statutory demand threshold for debts. Currently, the threshold at which a creditor company can make a formal request requiring a debtor company to pay a debt (ie statutory demand) is $2,000. The consultation is seeking comments from interested stakeholders on the pros and cons of an increase in threshold and small businesses may be disproportionately affected so make your voice heard.
