Process of administration
What is administration A company will enter into administration when the directors of the company reasonably believe that the company is insolvent or will become insolvent. If this occurs, an administrator (who is a person external to the company) will be appointed to manage the company. A voluntary administrator can either be appointed by directors […]
ATO on your credit rating
Per the 2016/17 MYEFO, effective from 1 July 2017, the ATO will be given the power to disclose tax debt information to credit reporting bureaus where taxpayers have not previously engaged with the ATO in relation to the payment of their debts. Initially, the new measures will only be used in relation to business related […]
Getting Help – Debt Arrangements
Debt agreements are usually available to people who cannot pay their debts, but don’t want to go bankrupt. They are a binding agreement between you and your creditors that allows you to agree on an amount of money that you can afford to pay over a period of time to settle your debts. Debt agreements […]
Intercompany loans and debt forgiveness
What is an intercompany loan? Intercompany loans are loans that are made from one business unit of a company to another. Usually intercompany loans are made either to shift cash to a business unit that would otherwise have a cash shortfall, shift cash into a business unit where the funds are aggregated for investment purposes […]
Launch of our video platform
We have recently been working through a range of education and information videos to support our partners or to give you some understanding of the issues that arise in the management of taxation or restructure issues. Understanding that some of the issues that arise are complicated and need further explanation, each video tries to cover […]
Making sure you get paid
For your business to survive, you need to have cash flow. This means that it is essential that you get paid by your clients for the work that you do. There are strategies you can use to give you the best chance of making sure you get paid. Written contract setting out terms Having a […]
Debtors and collections
How do you control your debtors? A debtor is a party (either an individual or a company) who owes money to another party. Controlling your debtors will help your business get paid faster and avoid debt, which will also help you maintain a good cash flow. There are different methods you can utilise to ensure […]
What is the PPSR?
The Personal Property Securities Register (PPSR) is a national online register that can protect consumers when buying personal property by providing them with information. Personal property can include all forms of property other than real estate. This information can include whether the property you are buying has a security interest attached to it. If you […]
Understanding the PPSR
Setting up your registrations On the Personal Property and Securities Register (‘PPSR’), you can place a notice that shows that you have enforcement rights over personal property. You should have a security agreement in writing before you register a security interest on the PPSR. Before you register your security interest you will need to know […]
FBT and Christmas
With the 2017/18 festive season fast approaching, it is worthwhile having a refresher of the Fringe Benefits Tax (“FBT”) implications associated with celebrations and gifts. The provision of a Christmas party for employees will be subject to FBT (at a rate of 47% on the grossed-up taxable value) unless the Christmas party represents an ‘exempt […]
