ATO Now Issuing “Director Penalty Warning” Letters
Over the last couple of days our phones have been lighting up with people who have received Director Penalty warning letters from the ATO. These appear to have gone out in bulk to COVID affected businesses. The letters warn of possible personal liability if company...
Insolvency Activity Returning to Construction Industry?
The construction industry is considered by many to be one of the first indicators of an incoming wave of insolvencies. This is especially relevant at the moment because ATO enforcement plays a big role in protecting the health of the industry by weeding out poorly run...
2021 Insolvency Statistics – low and staying low!
ASIC has just published the December 2021 Corporate Insolvency Statistics allowing us to run the totals for the 2021 calendar year. In 2021 4,511 companies entered some form of external administration (which includes liquidation, voluntary administration, and...
Considerations for Business Coming Out of Lockdown
Now that most states are out of lockdown, our phone lines are starting to get busy again with directors thinking about what trading looks like in the next “new normal”. If you have a viable business, the best case scenario is you pay the past debts and just get back...
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