The continuous lockdowns in a number of states in Australia is having a crippling effect on business. Many businesses won’t survive. But if you want to give your business the best chance of survival, we can help.
It has been a tactic for directors to backdate their resignation to avoid liabilities to a Liquidator, the ATO and creditors in general. But the Federal Government has brought in an Act to combat this.
Issuing garnishee notices is one of the methods the ATO utilises to recover tax debts.
It is important to speak to a professional before a garnishee notice is issued by the ATO.
The ATO has taken virtually no recovery action to collect tax debts since the start of the Covid-19 pandemic. This has led to many businesses simply racking up more debt.
There are various issues which directors should be aware of when considering the new Small Business Restructure scheme as an option to solve a company’s debt problems.
Numerous businesses have unmanageable debt and will have to make difficult decisions.
We at Cactus Consulting can advise you on the available options if your business is in financial difficulty and is finding it hard to keep up with costs and expenses.
In this article we look at the options that are available to your company if it is unable to pay its debts at the end of the JobKeeper scheme.
In this article, we answer some of the frequently asked questions relating to the Federal Government’s simplified liquidation process, including the cost of carrying out the liquidation.
The Australian Securities and Investments Commission and the Australian Financial Security Authority recently released the statistics for insolvency appointments across Australia.