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.
Often when people take out a mortgage, their bank asks them to obtain mortgage insurance. But this doesn’t protect the borrower, it protects the bank. When a property is sold and there is a mortgage shortfall, the bank claims on the insurance policy and the insurer then chases the borrower for the mortgage shortfall debt.
Our success story tells of a client we helped negotiate an ATO Payment Arrangement for, in order for them to avoid liquidation.
When a property is sold and there is a mortgage shortfall, the bank claims on the insurance policy and the insurer then chases the borrower for the mortgage shortfall debt.
Throughout the years, we have assisted a number of individuals that were audited by the ATO, resulting in large tax debts including GIC and penalties. Read our success story
Bankruptcy can provide relief from your debts and an opportunity to reset your personal finances. But bankruptcy will be recorded on your credit rating report.
Many businesses sign multi-year commercial leases and then struggle to meet their lease obligations. In these circumstances, we can help you.
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.