Closing an insolvent business
If your business is unable to repay its debts, it could be insolvent. Closing a business can be a complicated and emotional time, but insolvent trading laws means directors should understand their options and make a decision as soon as possible. Seeking advice from insolvency professionals can make the process easier, help you stay fully compliant with the law throughout the process, and help you avoid unwanted surprises.
What is a statutory demand?
If your company has incurred outstanding debts, your creditors have the option to serve a statutory demand against you. The statutory demand is a type of debt recovery tool that when served brings consequences for your business.
De Luca Licence Suspension Warning to Construction Sector
Recently, De Luca Corporation had their licence suspended after failing to meet The Queensland Building and Construction Commission’s financial requirements. The building watchdog has since reinstated the licence, but the suspension has served as a reminder of the importance of adhering to the tight financial requirements enforced by the regulatory body.
Succession for Rural Families
A simple guide for farming families of the issues to consider
What is intellectual property?
A quick summary of the elements of intellectual property.
Tips for Cash Flow
Issue and collect invoices faster A troubling trend has developed in Australia. On average, invoices are serviced 26.4 days late beating out Mexico (18.6 days) for the world’s longest overdue rate. This concerning statistic should give pause to review your organisation’s invoicing architecture and if necessary, spur corrective action. To improve your invoicing function, here’s […]
Cash flow management
A solid cash flow allows your business to service debt, fund growth, and enjoy financial flexibility. The key to managing cash flow for any company, is to promptly follow up the funds coming in, while delaying expenses where reasonable.
Options for employers where an employee has died.
Related party premises leases
When applying the Small Business CGT Concessions, one of the threshold tests is firstly determining whether the asset being disposed of is an active asset. Pursuant to section 152-40 of the ITAA97, properties used mainly to derive rent are not classified as active assets unless the property is being used in the business of a connected entity or an affiliate of the taxpayer.
