Phoenixing: Will the problem ever be fixed?
Phoenixing has been an issue in corporate Australia for many years. Phoenixing is a process whereby businesses/individuals transfer assets from an old entity to a new entity without regard for dealing with creditor claims in the old entity or paying little or no consideration for the transfer of assets to new entity. In February 2019, […]
Revenue Recovery and Levelling the Playing Field
It’s common knowledge that the Australian Taxation Office (ATO) is often one of the last creditors to be paid and is used by businesses and taxpayers intentionally or unintentionally as the “Bank of Last Resort”. In recent years there has been a lot of talk on phoenix activity, tax avoidance etc. and its effect on […]
The Capital Raising Journey for Fintechs
Start-ups often rely on their founder’s ambition and investment, however, there comes a time when outside capital is needed to finance further growth, execute a full or partial exit for owners, or optimise the capital structure. Many successful fintechs looking to accelerate growth arrive at this crossroad and, whilst access to finance may not always […]
The Reality of Build to Rent in Australia
The Build-to-Rent Property Model is Increasingly Garnering Interest From Property Developers Across the Country. Developers such as Grocon, Lendlease and Mirvac are all looking at implementing the model in Australia. Property finance experts Development Finance Partners have investigated the build-to-rent model in the context of Australia’s financial systems and taxations structures. The build-to-rent model is […]
What is the Right Governance Structure for my SME?
Under modern governance principles, there is a difference between the governance of an organisation and the operations of the business of the organisation. Governance generally refers to a number of governing functions in relation to an organisation, which are well articulated in ‘Tricker’s framework’ of corporate governance. Formulating and monitoring the strategic direction of the […]
Do The Assets In A Self-Managed Superannuation Fund Vest In The Trustee?
With the continued rise of Self-Managed Superannuation Funds (“SMSF”) bankruptcy trustees are frequently considering the effect bankruptcy has on the fund and if they have any interest in the fund. A bankrupt needs to be aware that they cannot sit back and do nothing in order to protect their SMSF. SMSF and Bankruptcy SMSF’s are […]
Case Study: FEG Rejects Employee Long Service Claims
A business can be sold either on an enterprise or equity basis. An equity sale is associated with far greater risk than an enterprise sale, as acquiring the shares increases risk around contingent claims, particularly the Australian Taxation Office (ATO), employee and consumer claims that may not be apparent at the time of the purchase. […]
C&D Advisory Newsletter March 2020
In this month’s newsletter, we tackle the issue of negative review blackmail, and how to head it off at the pass. Our Principal Consultant covers the importance of having the right business structure, and we also take some time to celebrate the achievements of two of our staff members. March 2020 Newsletter
GST Director Penalty Notices
In July 2019, the Federal Government introduced the Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 to seek to introduce GST Director Penalty Notices. The legislation was passed by both houses of Parliament on 5 February 2020. The legislation amends director penalty provisions so that Director Penalty Notices can be issued for GST, as well as Luxury […]
Ongoing Economic and Socio-Economic Impacts of the Australian Bushfires
More than 10 million hectares have been burnt during the summer bushfire crisis and more than 2000 homes destroyed. The fires are predicted to cripple already-lagging consumer confidence, devastate Australia’s agriculture and tourism industries, and destroy a significant number of small businesses. The previous record for bushfire cost was set in 2009’s Black Saturday fires, […]
