The coronavirus has had a massive impact on businesses. Whilst there are various government support schemes in place, many businesses have been losing money and one of the first things that businesses stop paying are tax debts. ...
mothball [verb] - to withdraw from use or service and keep in reserve; to stop work on an idea, plan or job, but leaving it in such a way that you can start on it again at some point in the future. ...
There have already been many businesses which have been financially impacted by coronavirus. In this article we look at what thoses businesses can do and how we can help. ...
This article is based on a publication issued by the Australian Restructuring, Insolvency and Turnaround Association, of which we are full members. The original article is available here...
Coronavirus has already had a devastating impact on businesses and it appears that the health impact could last for at least six months. The aftermath will be felt by businesses for years after this. ...
Most businesses have now been impacted by coronavirus. This has resulted in reduced trade or even forced shutdowns, with further government-enforced shutdowns likely to come. For a lot of businesses, their major ongoing expense is premises rent. ...
Coronavirus has already had a devastating impact on businesses. And at this stage, it appears the health effects could last for at least six months. ...
The Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 was passed by Federal Parliament in February 2020. The legislation introduces anti-phoenixing criminal offences including for those who facilitate illegal transactions and it provides a mechanism for Liquidators and ASIC t...
Most businesses we see have been insolvent for many months or years prior to the business owners coming to us. Sometimes this is because business owners don’t know that their business is insolvent or approaching insolvency. ...
Often financial problems can be resolved without the need for a company to go into liquidation. When we meet with a client, we will consider their circumstances and explore with them all options which may be available. ...
We have previously written about the proposal by the Federal Government to make Director Penalty Notice provisions apply to GST. The legislation making these changes was passed by both houses of Parliament on 5 February 2020....
In bankruptcy certain assets are able to be sold by your trustee and certain assets are ‘protected’ and you can keep them. Sometimes determining whether an asset can be sold involves complex issues, however, th...
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