On 11 March 2021, the Government announced a new SME Recovery Loan Scheme which will assist eligible businesses to access finance to maintain and grow their businesses when JobKeeper concludes at the end of March 2021. The SME Recovery Loan Scheme is designed to support the economic recovery, and to provide continued assistance, to firms […]
READ MOREATO disclosure of Tax Debt!
Scary? ATO disclosure of tax debt to credit agencies ATO disclosure?! There’s nothing quite like a government agency telling other agencies that you have a large tax debt, is there? If you thought that your debt was safe in your own knowledge, think again! Since 21 February 2020, the ATO has been allowed to disclose […]
READ MOREDirector Penalty Notice – What Does This Mean?
So What Is The Director Penalty Regime? The Director Penalty Regime is the mechanism through which the Deputy Commissioner of Taxation (DCT) attaches personally liability to directors equal to any unpaid Pay As You Go (PAYG) and Superannuation Guarantee Charge (SGC). Draft legislation has been proposed as part of the 2018/19 budget reforms to expand the […]
READ MOREBudget Reforms To Combat Illegal Phoenix Activity
In the 2018-19 Budget, the Government announced a package of reforms to the corporations and tax laws to combat illegal phoenix activity. The proposed reforms include a range of measures to both deter and disrupt illegal phoenixing and more harshly punish those who engage in and facilitate this illegal activity. The exposure draft legislation includes reforms […]
READ MOREA Win for Local Business: ReGroup Solutions Turnaround Practitioners
The leaders of the Gold Coast Professional Services scene attended the jam-packed inaugural ReGroup Solutions breakfast at RACV Royal Pines on Thursday 19 July 2018 to learn about Turnaround Practitioners. The informational and networking event, hosted by partners Ben Heaney and Michael Durbridge, focused on the emerging profession of business rescue, restructuring and turnaround. There […]
READ MORELabour Hire Industry Shake Up
The Long And Short Of It There are less than sixty days to lodge an application for a labour hire licence. The practical approach for clients that operate a labour hire business would be to quickly undertake a fair assessment as to whether their company will pass the financial viability test. If there are legacy […]
READ MORE17-428MR ASIC reports on corporate insolvencies 2016/17
Imagine the positive impact to people’s lives if just half of these 8,425 companies could have been turned around…. On 12 Dec 2017, ASIC published its annual overview of corporate insolvencies based on statutory reports lodged by external administrators for the 2016–17 financial year. The total number of external administrators’ reports lodged in 2016–17 was […]
READ MOREA Comprehensive Package of Reforms to Address Illegal Phoenixing
The Turnbull Government is taking action to crack down on illegal phoenixing activity that costs the economy up to $3.2 billion per year to ensure those involved face tougher penalties, the Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP, announced today. Phoenixing – the stripping and transfer of assets from one company […]
READ MORESafe Harbour by AICD
Landmark ‘safe harbour’ legislation, a reform that could energise businesses and the economy, has passed the Senate.
READ MOREWhy More Aussies Are Using Mortgage Brokers Over Banks
It’s no surprise that recent MFAA data shows more Australian property seekers prefer using mortgage brokers, rather than bargaining directly with banks. Over half of Australia’s new home loans in the last three months of 2016, were created by mortgage brokers. While both banks and brokers can help you find a good home loan, there […]
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