ATO continues to lift the corporate veil on company directors The Australian Taxation Office (ATO) has been very active in sending reminders to directors of small businesses about their lodgment and payment obligations. After tax legislation changes on 30 June 2012, the volume of reminders reflects a stronger stance on directors’ tax obligations and purposeful protection for employee entitlements for unpaid superannuation by employers. A director typically receives a notice for a Company’s debt under the ATO’s firmer action approach […]
We are Sydney based Chartered Accountants and Business Advisors. We understand the often-sensitive nature of our engagements. As an independent specialist firm, we are able to provide confidential, industry-leading expertise with an emphasis on value, simplicity and clarity in our areas of practice – turnaround and restructuring, forensic accounting and litigation support, insolvency and advisory transaction services.
Some Sydney and regional based clients or referrers have been with us for decades, while others come specifically with their most important, difficult or commercially sensitive matters – when their reputation is in jeopardy, they are at the crossroads or before implementing key initiatives.
Need for a safe harbour for reorganization attempts by directors More options needed for companies in difficulty At a time when Australia is seeking to encourage business growth, the current laws on insolvent trading often prevent the best stakeholder outcomes from being achieved. Australia led the world with the introduction of the voluntary administration regime in 1993. However, a review of insolvent trading legislation in jurisdictions including United Kingdom, New Zealand, Canada and the United States indicates that Australia has […]
Are your clients at risk when the PPSR transition period ends on 31 January 2014? Are you aware of your obligations to advise your clients? NZ experience shows advisors may be at risk The introduction of the Personal Property Securities Register (PPSR) on 30 January 2012 protected businesses that buy, sell and lease goods. The PPSR enables businesses to register their interest in the goods they supply or lease, and confirm unencumbered title for goods being purchased. The introduction of […]