You may be reading this article because you’ve received a warning letter from the ATO notifying you of their intent to disclose your tax debt to credit reporting bureaus, or they may have already reported your tax debt. The ATO now have powers to disclose your tax debt to CRBs and the aftermath is a… Continue reading ATO now reporting your Tax Debts to Credit Reporting Bureaus (CRBs)
Navigating the complexities of business disputes and insolvency can be daunting. But what if there was a way to protect your interests while the storm rages on? Enter provisional liquidations, a powerful tool that can safeguard your assets and ensure the continuity of your business operations. In this blog post, we’ll dive into the world… Continue reading How Provisional Liquidations Can Help Protect Your Interests in a Dispute
All businesses experience turbulent times. It’s a fact of life. Entering into voluntary administration stabilises the situation, allowing you to hit pause, reset, and get back on track when your business is undergoing financial distress. An Administrator may be appointed by company directors, a company’s creditors, or the court. An administrator must be a registered… Continue reading Your comprehensive guide to Voluntary Administration in 2024
You may have clicked on this article, unsure if entering liquidation is right for you and your business. Many people are surprised to discover that even profitable, thriving businesses may choose to enter liquidation. But what does it actually mean when a business goes into liquidation and why would a thriving business choose this as… Continue reading Guide to Liquidation
Despite international borders opening in February, the tourism and hospitality industry is still struggling to return to business as usual. Labour shortages are one of the biggest impediments to getting back on their feet. While domestic visitors are returning and taking holidays, international visitors have been slow to return. According to the Australian Bureau of Statistics,… Continue reading Tourism Industry feels the pinch from lower visitor numbers and staffing shortfalls.
The Australian Tax Office (ATO) has now begun their recovery debt collection by sending Director Penalty Notices and Director Penalty Notice Warnings. We had seen that the ATO recently paused their debt recovery processes due to the pandemic, and it looks like they are now in pursuit of unpaid taxes. A Director Penalty Notice (DPN)… Continue reading What to do if you receive a Director Penalty Notice
Dealing with creditors can be overwhelming when you don’t know your rights, where to seek help or what to do. When you fall behind on your bills, rent, loan, credit card or debts, your creditor may obtain a debt collector. The debt collector will then be in contact with you to retrieve the debt for the… Continue reading The best way to deal with creditors
Many people are surprised to discover that even profitable, thriving businesses may choose to enter liquidation. But what does it actually mean when a business goes into liquidation and why would a thriving business choose this as their path?
When a solvent company permanently stops trading and shuts down, it begins the process of Members’ Voluntary Liquidation, a formal process that allows a solvent company to wind up affairs. Many businesses opt for this option, and in this article, we’ll explore the various benefits involved and the steps that company’s need to take in… Continue reading Members’ Voluntary Liquidation Explained
Debt is a normal part of doing business. Every company will have some debts that must be managed on a regular basis, and good debt management is about always being aware of the debts you have and dealing with them in a timely and structured manner.