Turnaround Practitioner ~ Liquidator
What’s The Difference Between; a Turnaround Practitioner and a Company Liquidator? And why Accountants, Bookkeepers & Lawyers need BOTH in their bag of tricks… There is often confusion between the role of a Turnaround Practitioner and that of a Company Liquidator. Both serve the distressed business market and provide a valuable service. However, to those […]
Controlled Business Exit vs An Immediate Liquidation
What’s best for your client? Guide for accountants, bookkeepers & commercial lawyers A Controlled Business Exit vs An Immediate Liquidation… Or Both? Are any of your clients in financial distress? Struggling with growing debt or increasing cash flow pressure? Did you know working with a business owner in cash flow or debt distress can be […]
Director Penalty Notice (DPN)
Approximately $20 billion of unpaid ATO debt remained outstanding in 2016. With a growing $53 billion debt book to account for, accountants have now correctly predicted that the ATO would turn to stronger enforcement once JobKeeper concluded – this includes use of the Director Penalty Notice. Businesses or individuals with temporary cash issues can easily fall behind on […]
SME Recovery Loan Scheme – Help for Businesses
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 […]
Safe Harbour Success Story – Business Rescue
This article is about a recent safe harbour success. At ReGroup Solutions, we absolutely love getting a great outcome for clients. What makes this particular case different is that we were able to use the safe harbour provisions under section 588GA for the precise purpose for which the legislation was intended. The director engaged multiple […]
Cashflow Crisis? Speak with an expert…
The first rule of a cashflow crisis is: Never wait! Just like facing down an opponent in the movie Fight Club, facing up to a cashflow crisis will cause a rush of adrenaline, make your fears rise, and your heart beat quickly. And just like in the movie Fight Club, there are rules that apply. […]
Voluntary Administration – abdicating from your throne
Voluntary Administration – this is not the only restructuring option available to you When a company’s financial distress begins to slip downwards towards insolvency, time is of the essence. Directors need to make some quick decisions to protect the kingdom they have invested so much time and effort in building. A major ‘fork in the […]
Business Turnaround – Accountants, Become Superman!
Business Turnaround Business Turnaround is essential for economic growth – especially due to the COVID19 crisis. You might not have supersonic hearing, but as an accountant you are the closest thing to Superman that your clients are going to get. You might be the one person who can save a family business from insolvency. The […]
ATO 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 […]