Insolvency reforms and debtor in possession
In its bid to continue to assist small businesses experiencing financial distress during the pandemic, the federal government has proposed new insolvency reforms for SMEs with liabilities of less than $1 million, these are referred to as debtor in possession and are similar to Chapter 11 in the United Stated. These reforms will require struggling […]
Changes to the insolvency landscape
What do the recent Insolvency Reforms mean? Josh Frydenberg, the Federal Treasurer for Australia, has announced a new restructuring regime for struggling small to medium enterprises (SMEs) which adopts a ‘debtor-in-possession’ model for companies owing less than $1 million. Given that the legislation is yet to be released, we don’t intend to comment in great […]
Debtor in Possession
With the new rules coming into operation in early 2021, it is opportune to work out if the debtor in possession structure will be appropriate for your business. The debtor in possession rules will allow a business to continue to trade, and for the owners to continue to operate the business without the limitations of […]
C&D Adapting to rapidly changing landscape
Over the next few weeks, there will be a new colour and a change of logo to the C&D presence as we continue to adapt to the changing economic landscape. The last six months have been challenging for most businesses and we have been in the same boat. Whilst missing our Yeronga home, the opportunity […]
Moving office
The team has relocated to 110A Hoff Street Mt Gravatt and will be operating from here for the rest of 2020. The change has brought a further flexibility that we feel better aligns with the changing marketplace and hopefully will allow us to be more adaptable. We are retaining the offices in Geelong and Sydney, […]
Accountants, Are Your Clients Ready for EOFY?
The Lead up to a New Financial Year. For businesses across the country, End of Financial Year is the time to wrap up the year that was and plan for success over the next 12 months. The end of financial year means change – some good and some that can a bit more challenging. With […]
Superannuation Payments to Contractors
The Australian Taxation Office (ATO) is actively targeting employers who aren’t paying employees and certain contractors their full compulsory superannuation guarantee entitlements. If caught not complying, the employer (or its directors if it is a company) could be at risk of receiving a 12-month prison sentence for failing to comply with the relevant laws. Which […]
Some of the Biggest Challenges Facing Cryptocurrency Investors
Since its inception over 10 years ago, Bitcoin has grown to become the leading cryptocurrency worldwide and even a household name. As a result, a growing number of Australian individuals and businesses have begun to look into how they can invest safely and securely in digital assets like Bitcoin to take advantage of its rapid […]
Self-Employment and Bankruptcy
Sole Proprietorship businesses (also known as “Sole Traders”) are the simplest and cheapest business structure to create in order to operate a business and that makes them a popular choice for business owners looking for flexibility in operations, management and exit. The Australian Bureau of Statistics (ABS) data shows that Sole Traders account for approximately […]
Three Measures to Consider During Times of Rapid Growth
In business, growth is often the goal. Generally, businesses experience slow growth in their formative years, allowing leaders to scale incrementally. But this is not always the case. Rapid growth can occur when a product or service hits the market and takes off unexpectedly. Business owners should consider this possibility in their business planning, to […]
