What should you do if you provided a personal guarantee and your business is struggling? One of the things you can do is to negotiate a settlement.
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.
Plutus Payroll Australia managed to misappropriate approximately $167 million in PAYG tax owed to the ATO. With these funds they lived a lavish lifestyle, buying expensive houses, fast cars and travelling to exotic places. Single Touch Payroll reduces the chances of this type of fraud happening.
Director Penalty Notices (DPNs) are just one of the broad range of powers available to the Australian Taxation Office to pursue delinquent debtors.
Business owners often struggle with the operational and financial aspects of their business. We provide 5 tips for business success here.
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 »
It is a common scenario that when a company goes into liquidation the directors will have debts they are liable for because of personal guarantees.
The ability to issue a Garnishee Notice to a tax payer’s bank or employer is just one of the many powers available to the ATO to try and recover debts owed. A Garnishee Notice will ordinarily be issued to a tax payer’s bank for the payment of all (or a set percentage) of funds held… Read more »
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…