Receiving an ATO red letter

Receiving an ATO red letter

If you have received a red letter from the ATO, acting quickly is critical. It is important to understand your position, what you options are and more importantly take steps to fix the issue.

What’s in a restructure?

What's in a restructure?

Restructuring your business involves a step back from the day to day operations and making significant change.

Working with a liquidator during insolvency

Working with a liquidator during insolvency

Working with a liquidator can be difficult for a business owner, you need to step back from control and the liquidator is calling the shots. It is important to understand your obligations and that the liquidator is not working for you.

372,000 Australian Businesses Were On JobKeeper When It Ended Last Month

Right up until it’s completion on Sunday 28th March, JobKeeper remained to be a critical economic lifeline for 372,000 Australian businesses. New research shows that almost a quarter of Melbourne based businesses were dependent on help from the scheme during its final phase. Businesses in regional parts of the country fared better than those in […]

Australian Businesses in a World after JobKeeper

Business owners, insolvency experts and bureaucrats are cautiously awaiting to see how the end of JobKeeper is going to impact the Australian economy over the coming weeks. Insolvency laws were introduced during the peak of the covid-19 lockdown to protect businesses. On top of this the $90 billion JobKeeper wage subsidy scheme made it possible […]

Thousands of Employees Face Redundancy as JobKeeper Ends

The JobKeeper scheme ended on Sunday 28th March. The ATO has warned employers that they could potentially lose access to the wage subsidy payments if they deny workers their redundancy entitlements.   The Treasury has estimated that up to 150,000 employees across the country are likely to lose their job as a result of the […]

250,000 More Australians Might Be Unemployed When JobKeeper Ends

Another 250,000 Australians could potentially find themselves unemployed when JobKeeper ends on 28th March 2021. The end of the scheme is anticipated to lead to thousands of businesses failing across the country. This will consequently lead to anywhere between 125,000 and 250,000 people left without a job.   There are many businesses that would’ve already […]

Treasury is considering an increase to the current Statutory Demand Threshold

The impact of the covid-19 pandemic has forced the government to make a huge number of changes to Australia’s insolvency framework. The Treasury is now deliberating about whether or not the current monetary threshold at which a statutory demand can be issued by a creditor should remain at $2,000 or should be permanently raised to […]

Zombie Businesses in The Age of Covid-19

Running a successful business takes a lot of hard work and with the covid-19 pandemic many Australian businesses are facing an uncertain future. Sudden lockdowns and social distancing rules have made it difficult for businesses to generate the amount of revenue that they used to make in a world before covid-19. Once the governments covid-19 […]