Small Business Restructuring Specialists – William Buck

What is the Small Business Restructuring process? Australias Small Business Restructuring (SBR) process is a formal insolvency process introduced by the Federal Government in 2021 to give small businesses the opportunity to restructure their debts while directors remain in control of the business, under the supervision of a restructuring practitioner. The SBR process involves a…

Parents failing to submit tax returns are skewing child support payments – ABC News

In short: Experts say some parents do cash-in-hand work, salary sacrifice, set up business structures, and lodge late tax returns to avoid child support payments. Services Australia, which administers the scheme, referred 168,082 parents to the Australian Tax Office in 2022-23 for having overdue tax returns. What’s next?: The federal budget allocated $5 million for…

Selecting the right private debt fund for clients – Money Management

With the private debt marketplace described as a minefield to navigate, research house Zenith Investment Partners has shared tips to help advisers select the right fund. Private debt is among the growing asset class of alternatives as investors seek alternative sources of income. Types of products can include corporate lending-bilateral, corporate lending-syndicated, PE sponsor-backed lending…

ARYZA appoints experienced insolvency practitioner – Insolvency News Online

Advertorial ARYZAs new head of corporate insolvency, Tom OConnor. Aryza, a leading provider of financial software solutions, announces the appointment of Tom OConnoras its Head of Corporate Insolvency. With an extensive career spanning over a decade in the insolvency sector and a proven track record in product development and client engagement, Tom brings invaluable experience…

ATO 'hellbent' on chasing down $34bn in small business debts – Accounting Times

Insolvency professionals warn the Tax Office is using DPNs and legal action to take a “far more aggressive” recovery stance. The ATO is hellbent on chasing down $34 billion worth of debts owed by small businesses using director penalty notices (DPNs) and legal action, insolvency professionals say. Insolvency Australia (IA) members said that recent activity…

Personal insolvencies spike as business failures and economic strain take toll – SmartCompany

Data from the Australian Financial Security Authority (AFSA) has found a significant rise in personal insolvencies for the March 2024 quarter. According to the report, there has been a 19.5% increase compared to the same period last year. Unsurprisingly, economic challenges have been contributing to this rise, including cost of living pressures. However, a large…

Designer Projects Victoria Pty Ltd: Melbourne home building company liquidated after being fined for underpaying worker – Daily Mail

By Stephen Johnson, Economics Reporter For Daily Mail Australia Published: 17:56 AEST, 24 June 2024 | Updated: 13:02 AEST, 25 June 2024 A major home building company has collapsed just 18 months after it was fined more than $40,000 for underpaying a worker… Read the full article at: https://www.dailymail.co.uk/news/money/article-13561889/Designer-Projects-Victoria-Pty-Melbourne-home-building-company-liquidated-fined-underpaying-worker.html