Posts tagged "insolvency"

Here are four steps governments should take in 2023 to support small business resilience and economic sustainability.

Small businesses are being warned to pay attention to their tax obligations and if in trouble, to speak up early to set repayment plans with the ATO.

The ATO is accelerating its use of company wind up applications, risk reporting firm Alares says, suggesting the return to pre-pandemic compliance measures is well and truly underway.

The last year has been tough on the building industry with around eight in 10 construction companies forced to use their own funds in order to complete a client's home.

The construction industry is weighing the need to combat inflation against the likelihood rising interest rates will deter new home buyers.

Extremely low insolvency rates through the COVID-19 pandemic mean there is now a "backlog", Creditorwatch CEO Patrick Coghlan says.

The ATO is ramping up its issuance of director penalty notices — which can hold current and former company directors personally liable.

Industry leaders in Western Australia are sounding the alarm over future business insolvencies after the collapse of two home builders.

The Morrison government says it is committed to continued reform of Australia’s insolvency regime, earmarking the treatment of trusts as an area of focus. 

One insolvency expert says the government's plan would effectively render bankruptcy “pointless”.

Bruce Billson is calling on the federal government to ‘reactivate’ temporary insolvency protections to help SMEs survive ongoing lockdowns.

The federal government plans to consult on further insolvency reforms, but the industry has warned against more “piecemeal” changes that could create even more complexity for business owners.