Rent relief negotiations are a vital component of the survival strategy for many businesses experiencing significant disruption due to COVID-19. The National Cabinet’s mandatory Code of Conduct for landlords and SME tenants provides guiding principles for negotiating rent relief arrangements wher...
A company is insolvent if it is unable to pay amounts that it owes to creditors when they become due and payable. There are various relevant in determining when a company is insolvent, some of which are set out here. ...
A members’ voluntary liquidation (MVL) is the formal process of winding up a solvent company. During the MVL process, any surplus assets are distributed to a company’s members and the company is ultimately deregistered. ...
On 6 March 2020, the Federal Government introduced a Superannuation Guarantee Charge (SGC) amnesty. The amnesty allows employers to disclose and pay previously unpaid SGC whilst taking advantage of some benefits. ...
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...
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