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RESTARTING YOUR BUSINESS IN THE SHADOW OF “COVID” DEBT

RESTARTING YOUR BUSINESS IN THE SHADOW OF “COVID” DEBT As businesses are re-emerging from COVID affected trading conditions, the ATO has signaled its intent to highlight non-compliant taxpayers. Whilst the ATO has to date restrained from instituting recovery action, providing a reprieve for businesses. This has also meant that non-viable businesses remain in the marketplace. […]

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DIRECTOR RESIGNATIONS

DIRECTOR RESIGNATIONS From 18 February 2020 new laws encompassed within the Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 (Bill) commenced having passed through Parliament and receiving royal assent on 17 February 2020. These laws included: Creditor defeating dispositions Director resignations DPNs for GST, WET and LVT Retention of tax refunds. Please refer to our previous […]

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SIMPLIFIED LIQUIDATION

On 10 December 2020 the Federal Government passed the Corporations (Corporate Insolvency Reforms) Act 2020 (Cth) which included measures designed to assisting small business with restructuring as well as a simplified liquidation. Our recent blog on Small Business Restructuring which can be found at the following link: Small Business Restructuring Process (SBR) These laws commenced […]

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SMALL BUSINESS RESTRUCTURING PROCESS

On 10 December 2020 the Federal Government passed the Corporations (Corporate Insolvency Reforms) Act 2020 (Cth) which included measures designed to assisting small business with restructuring as well as a simplified liquidation. These laws commenced on 1 January 2021 and are now another option available to eligible small business that are suffering financial distress. Over […]

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