A Director Penalty Notice currently relates only to unpaid PAYG and a director may be held personally liable and lose personal assets if they do not comply with a DPN within 21 days of issue. Continue reading
Tag Archives: solvency
Debt spiral looming for Australians
ONE in seven adults are so financially strapped that they cannot afford insurance cover for their homes and cars, a new study shows. Continue reading
Rise in middle-class bankrupts
PROFESSIONALS and people on high incomes are declaring bankruptcy faster than ever in Australia. Continue reading
Winding up a solvent company
The members of a solvent company may decide to wind-up the company under s491 of the Corporations Act 2001 (the Corporations Act). Continue reading
IMF warns credit crunch will be long lasting with the worst yet to come
THE International Monetary Fund has warned that the credit crunch will be deep and long-lasting, with the worst yet to come. Continue reading
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