Latest News

Hot Issues
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Debate heats up around $10k cash ban bill
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There’s still time to move to Single Touch Payroll (STP)
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Real Time World Population Growth - Wow!!
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ATO audits continue to target Lifestyle assets
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Property deduction errors down to ‘lack of understanding’: ATO
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Data can be great stuff! - Australia
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GST refunds for returned imported goods
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14k employers, $230m in super: Financial Services Minister defends proposed SG amnesty
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Bushfires 2019–20 (ATO)
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Accounting profession responds to bushfire crisis
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Helping your business survive a natural disaster - ATO
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Single Touch Payroll (STP) – now ensure super is paid on time.
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Beware of Australian Taxation Office (ATO) impersonation scams
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Australia by the Numbers
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‘Visible, valued and owned’: ATO outlines super priorities for new year
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Introductory Rates & Interest Free Periods
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Our Advent calendar for 2019
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Tax Office sounds warning on 8 types of super schemes
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Don’t forget sharing economy income
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Impress your friends with your knowledge!!
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Salary sacrificing and the superannuation guarantee
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Why so much super “stuff” this year?
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Reverse Mortgage?
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How the gig economy could create hidden tax issues for contractors and employers
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15,000 tip-offs as ATO black economy hotline rings hot
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What happens when interest rates hit the floor?
Article archive
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Quarter 4 October - December 2019
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Quarter 3 July - September 2019
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Quarter 2 April - June 2019
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Quarter 1 January - March 2019
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Quarter 4 October - December 2018
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Quarter 3 July - September 2018
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Quarter 2 April - June 2018
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Quarter 1 January - March 2018
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Quarter 4 October - December 2017
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Quarter 3 July - September 2017
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Quarter 2 April - June 2017
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Quarter 1 January - March 2017
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Quarter 4 October - December 2016
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Quarter 3 July - September 2016
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Quarter 2 April - June 2016
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Quarter 1 January - March 2016
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Quarter 4 October - December 2015
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Quarter 3 July - September 2015
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Quarter 2 April - June 2015
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Quarter 1 January - March 2015
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Quarter 4 October - December 2014
Quarter 4 of, 2016 archive
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Big-ticket tax set for government review
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FBT – Christmas Parties and Taxi Fares
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Unclaimed Monies - Christmas Project?
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Employee Christmas Parties and Gifts – Any FBT?
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‘Beware the tax man’ eyeing holiday period activity
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Merry Christmas for 2016, a Happy New Year and a prosperous 2017.
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Research reveals key to ‘high-performing’ firms
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Late payments hitting SMEs hard
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Estate planning issues flagged with $1.6m pension transfer cap
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Travel to a workplace: What’s in, what’s out
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New fleet “safe harbour” approach for car fringe benefits
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Struggling Business Turnarounds
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SMSF practitioners told to urgently address TRIS issues
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$20,000 write off is only available for small business, right? Well…
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Do you need an Employment Agreement?
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What does the new withholding tax mean for your clients?
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Domestic (non-marital) Relationships
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Is there a problem with using your company’s assets for yourself?
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SMEs at risk of ‘falling foul’ of ATO
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Scams, fraudsters and viruses
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Got your car log book ready?
Struggling Business Turnarounds

 

Many small business owners rush to apply short-term fixes rather than diagnosing the real problem.

       

 

SME companies can find themselves in financial distress even under the most buoyant economic conditions.  Underlying problems in core business models are intensified during difficult economic times.

A common solution is to borrow or refinance their way out of trouble.  Whilst a refinance is helpful for placating hungry creditors now, it does little to guarantee long-term cash flows and operational stability.

Specialist insolvency practitioners say it is the identification of this flaw and development of a turnaround plan to address this that is critical to long-term prosperity.

An effective turnaround involves a combination of short-term and long-term decision making, which must be executed quickly and communicated clearly.

Any turnaround requires time.  For SME’s who are in need of restructure, early consultation with an expert is vital.  That first consultation will often be free.

The solution may be an informal workout or through a formal insolvency process, such as Voluntary Administration with a Deed of Company Arrangement proposal (potentially funded by the owners).

 

 

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