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.
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.
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.
The Australian Federal Government is proposing a simplified small business restructuring process (SBRP). We have covered the key features of the proposal here: The Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 passed the House of Representatives on 8 December 2020 after three readings. It will now be debated in the Senate, and it is set… Read more »
The Australian Federal Government has recently announced reforms to the current insolvency regime. One of the proposed reforms is aimed at simplifying the restructuring process for eligible small businesses.
There are signs hat the stimulus measures introduced during COVID19, might be keeping businesses which would otherwise have folded, alive.