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....
We are commonly asked to assist people involved in a business that has failed. Often one of the impacts of the business’ failure is that a bank loan to the business has not been paid. This loan is also often guaranteed by the person running the business but also by his or her partner, with the loa...
We have previously written about how the ATO intends to use information it gathers as a result of Single Touch payroll to assist it identify PAYG Tax and superannuation which is not being paid and then take recovery action. The ATO h...
A Charging Clause in an agreement or contract could mean that the creditor may be able to lodge a caveat over your property or similar....
Businesses that are not complying with their obligations to pay PAYG Tax and superannuation, single touch payroll will make it easier for the ATO to take recovery action. Single Touch Payroll comes into effect for businesses with 19 or fewer employees from 1 July 2019....
A client was recently referred to Pearce & Heers by his accountant. He was the director of a company, which was facing liquidation by the ATO in nine days’ time. ...
Historically the ATO has been able to issue lockdown Director Penalty Notices for unpaid amounts of superannuation if SGC Statements hav...
Pearce & Heers were recently engaged by a restaurant owner on the Sunshine Coast, whose company was facing liquidation proceedings by the ATO. The ATO had rejected a number of proposals for payment arrangements put forward by the company in the past. ...
Article by Mark Davidson Ever wondered what would happen to your property in bankruptcy and if it was possible to keep it? It depends on number of factors, however the key thing to understand is that your interest in a property upon becoming bankrupt vests in your trustee, on behal...
Address
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Brisbane Qld 4000
Phone
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Fax: 07 3221 8885
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Brisbane Qld 4001
Address
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2 Corporate Court
Bundall Qld 4217
Phone
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Fax: 07 3221 8885
