In 2019, the Federal Parliament passed the Treasury Laws Amendment Act 2019 that allows the ATO to, among other things, disclose a business’ tax debt to credit agencies. It is meant to compel businesses to deal with their tax debt. The ATO has until recently, not used these powers, but this is beginning to change.
The Australian Securities and Investments Commission and the Australian Financial Security Authority recently released the statistics for insolvency appointments across Australia.
A debt agreement or bankruptcy are two options if you are facing financial difficulty – but how do you know which is best for you? The differences are explained here…
Phoenixing a company is often seen as the cheapest option – but there are many hidden costs. If you’re considering phoenixing your company, read this first.