Many businesses sign multi-year commercial leases and then struggle to meet their lease obligations. In these circumstances, we can help you.
GST Director Penalty Notices are Here
From 1 April 2020, the ATO will be able to issue Director Penalty Notices for a company’s unpaid GST. This article summarises how GST Director Penalty Notices will apply.
The cost of illegal phoenix activity
The direct cost of illegal phoenix activity was estimated to cost between $2.85 billion to $5.13 billion for the period from 1 July 2015 to 30 June 2016.
Garnishee Notices; How the ATO will garnishee your wages
Have you got a personal tax debt you are struggling to pay? This might include a debt for income tax or a debt under a Director Penalty Notice.
If you do, you need to be aware that the ATO can issue a Garnishee Notice to your employer to recover the debt.
Director Penalty Notices – Don’t Get Caught Out
Director Penalty Notices (DPNs) are just one of the broad range of powers available to the Australian Taxation Office to pursue delinquent debtors.
How a Sole Trader settled Business Debts and Avoided Bankruptcy
It can be difficult running a business as a sole trader. You need to be generating fairly significant revenue in order to generate a profit after your expenses have been paid. Given that you do not have the protection a company affords you it can be catastrophic for you personally if the business starts making… Read more »
Considering how to exit a business? 5 options explained…
Do you want out? If you’re considering how to exit a business, make sure you’re across all the options. Miss something important & it might end up costing you…
Debt Settlement – How a franchisee owner settled a landlord debt and avoided bankruptcy
It is a common scenario that when a business leasing premises from someone fails there will be a significant debt owed to the landlord. This is the case because usually under the terms of the lease, landlords can claim rent for the remaining period of the lease (i.e. another 4 years after the lease has… Read more »
Insolvency advice for directors: 6 things NOT to do before liquidation
Directors facing insolvency often make rash decisions & create further problems. If you’re struggling, take some advice: 6 things NOT to do before liquidation…
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
Archives
- 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