BANKS will allow businesses to collapse if they fail to pass on an expected rate cut today, small business leaders warned last night. Continue reading
Insolvency News and Blog
Tax Office armed with weapons to force businesses to blow whistle on themselves
A massive hole in the federal budget to the tune of $20 billion will become a game-changer for business and company directors as the government uses legislation to enhance the powers of the Australian Tax Office to grab billions of dollars in extra tax revenue to plug its holes. Continue reading
Former Melbourne director sentenced on insolvent trading charges
The former director of International Consulting Group Pty Ltd (ICG), Ms Anula Kumari Kauye, (also known as Anula Fidds) has been sentenced to a total of three years and two months imprisonment on charges brought by ASIC. Continue reading
Queensland building firms hit by insolvencies in tough economy
ONE Queensland construction business a day went into external administration in the past financial year, the highest level of corporate insolvency of any industry in the state. Continue reading
GFC II on its way
OUTGOING Commonwealth Bank chief executive Ralph Norris has warned that the European debt crisis has entered a dangerous phase, likening the current turmoil to the global financial crisis of three years ago. Continue reading
Profile of companies subject to external administration
Below are figures from a recent ASIC report regarding the typical specifications of companies entering into Liquidation or Voluntary Administration. Continue reading
Directors Penalty Notice – temporary reprieve from super liabilities
Directors have been given a temporary reprieve from potential personal liability to meet employees’ superannuation obligations if their companies fail following the government’s temporary removal of its proposal to extend the current Director Penalty Notice regime. Continue reading
Director Penalty Notices – Pressure is Building on Directors
Proposed legislative changes to the Director Penalty Notice regime is about to step up the pressure on company directors. Continue reading
FREE INSOLVENCY LIBRARY — 14th INSTALMENT
Here is Part 14—your last episode of this year FREE Insolvency video library. Continue reading
DIRECTOR PENALTY NOTICE—TEMPORARY REPRIEVE!
We have previously reported that the government is looking to extend the current Director Penalty Notice regime from unpaid PAYG to include unpaid superannuation. Continue reading
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