Category Archives: Insolvent Trading

Talking with the ATO

50% of payment arrangements entered into with the ATO end in default according to information sourced by Smartcompany. During 2009/10 the amount due to the ATO totaled approximately $12.15 billion, apparently 10% more than the year before.  Of this, it is estimated that 60% relates to SMEs.
Also posted in In The News |

ZOOM

We summarized ASIC statistics for the top 6 industries at risk of insolvency. We also summarized ASIC statistics on the main reasons for business failure. ASIC statistics also reveal the reasons for failure within and across industries. In our last post we recommended business advisers keep a keen eye on clients in those higher risk industries. [...]
Also posted in ASIC, In The News, You're Not Alone |

Tax Blitz

The Australian Taxation Office has long had the ability to render company directors personally liable for tax debts through the Director Penalty Notice (DPN) regime.  This regime has undergone some recent changes. The major changes include: A director has three options (previously four) to avoid personal liability.  These are; Comply with the notice, that is, pay the amount; [...]
Also posted in In The News, Uncategorized |

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