Options for subcontractors after collapse of Probuild
Construction industry insolvencies are unfortunately very common and building company insolvencies usually do not result in any return for subcontractors....
PAST ARTICLES
When will the ATO start issuing GST Director Penalty Notices?
The ATO has had the ability to issue Direct...
Options for businesses affected by the 2022 floods
Many businesses in South East Queensland and Northern New South Wales have just started getting back to normal trading after the Covid-19 pandemic. However, some business are again facing are facing major disruption as a result of flooding which occurred in late February and early March 2022. ...
Hospitality Business Can’t Pay Its Debts – What Are The Options?
It is no surprise that hospitality businesses have been significantly impacted by the COVID-19 pandemic and the resultant government policies. ...
ATO focusing on recovery of unpaid super and large tax debts
Collectable tax debt has significantly increase to nearly $40 billion. The ATO is starting to target recovery. ...
Why get advice from an insolvency practitioner
Insolvency Practitioners can provide services beyond formal appointments. They can provide invaluable advice to directors. ...
ATO Director Penalty Notices; A simple summary of how they apply
The ATO can make company directors personally liable for unpaid GST, PAYG Tax and superannuation. The ATO does this by issuing directors with Director Penalty Notices....
Case Study; Director jailed after following dodgy pre-insolvency advice
A former director of Cap Coast Telecoms, Richard Ludwig has recently been jailed for five years with a non-parole period of 20 months. Mr Ludwig had previously pleaded guilty to dealing with proceeds of crime and breaching his duties as a director. ...
Case Study: How we settled a lease debt for $10,000
If you or your company owes a lease, or other type of debt you cannot pay and you would like to consider all options available, please contact us for a free no obligation consultation....
Queensland bankruptcy numbers still down
It was thought there may be an increase in personal insolvencies/bankruptcies in the second half of 2021 but this has not turned out to be the case. What will 2022 bring? ...
Can Your Bankruptcy Trustee Sell your Cryptocurrency?
Cryptocurrencies are fast becoming a popular investment for Australians considering its exponential growth in value over the past decade. Over the last few years, we find more bankrupts owning cryptocurrencies in one form or another. ...
Total Collectable Tax Debt Increases to $38.5 Billion
The ATO’s recent report on its activities for the 2021 financial year has shown that total tax debt, which the ATO considers is collectable, has increased to $38.5 billion. This compares to $26.5 billion for the 2019 financial year. ...
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