Often when a business owner signs a credit application for their business, they don’t know that they are signing a personal guarantee let alone a guarantee, which has a charging clause. However, the risks and impacts of guarantees with charging clauses can be significant.
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.
There are many different ways you can be pursued for money you owe, with different timelines on each. We can run you through each and every one.
Submitting outstanding ATO lodgements in the belief that it will reduce exposure for your business may have the reverse effect. Find out what you can do here..
The Gawker case is a prime example of the personal liabilities that company directors can endure. How do you avoid or deal with these in Australia?
A turnaround and restructuring process is not easy, but these three local examples show it can be incredibly successful.
Selling your business to a related party is one way of addressing debts, but can you get it wrong? There can be serious legal ramifications if you do.
How much do you know about cashflow finance solutions? They can provide an alternate method of freeing up cash for your growing business.