A Gold Coast pre-insolvency advisor has been sentenced to eight months imprisonment, which is to be served by way of an intensive correction order. This follows an investigation and subsequent prosecution instigated by the ASIC.
Can’t Pay your Tax Debt? Negotiating a Payment Arrangement with the ATO
If you or your company can’t pay its tax debt its important you negotiate a payment arrangement with the ATO to avoid recovery action over your tax debt.
What directors need to know about insolvent trading
Company directors have a general duty to prevent a company from trading if it is insolvent. A director of a company which continues to trade whilst it is insolvent may be liable for insolvent trading.
Signs of Company Insolvency?
Directors can face insolvent trading claims if they continue trading when their company is insolvent. So how do you determine if a company is insolvent?
What is a Director Penalty Notice?
As a director, you must ensure your company complies with certain tax and super obligations – failure to do so, will result in your personal liability.
ASIC Taking Steps to Stop Illegal Phoenix Activity
The ASIC is currently taking steps to combat illegal phoenix activity. The ASIC has advised “illegal phoenix activity is a serious crime and may result in company officers (directors and secretaries) being imprisoned.
ATO Garnishee Notices: Don’t risk an empty bank account!
The ATO has actively issued Garnishee Notices recently. If you owe the ATO a debt which is not on an arrangement, act fast to avoid an empty bank account.
Categories
- ATO Debts
- Bankruptcy Assistance
- Business
- Business insolvency
- Business Solutions
- Corporate finance insights and updates
- Corporate liquidation
- Debt Agreements
- Debt management
- Financial Dispute Resolution
- Financial Dispute Resolution
- Informal Arrangement
- Informal Arrangements / ATO Payment Arrangements
- Liquidation
- Money management and bankruptcy
- Personal Debt Solutions
- Personal Debts
- Personal finance insights and updates
- Personal Insolvency Agreements
- Pre-Insolvency Advice
- Turnaround and Restructuring
- Uncategorized
- Voluntary Administration and Deed of Company Arrangement
Archives
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- November 2019
- October 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- December 2016
- November 2016
- October 2016
- August 2016
- June 2016
- May 2016
- July 2015