WCT Advisory Industry News
Anti Phoenix Law Passes Test
Article published in the Courier Mail Thursday, 15th September 2022.
Director Penalty Notices and SMEs
This is the fourth in a series of articles aimed at informing directors of their duties and options for small to medium enterprises if faced with insolvency.
Following on from our previous article, we will now look at one of the more prominent risks of, firstly not reporting activity and superannuation guarantee when due, and secondly not paying debts owed to the Australian Taxation Office.
Directors need to keep a sharp eye out for Director Penalty Notices from the ATO.
ATO to Ramp Up Debt Collection
After pausing its pursuit of unpaid taxes while jurisdictions were coping with COVID-19 outbreaks and lock downs, the ATO has started to chase debts again. So far, the ATO has targeted New South Wales, Victoria and the ACT.
Have you Lodged your Annual Financial Report with the QBCC?
Construction industry licensees must have sufficient working capital to meet Minimum Financial Requirements. Annual financial reports have been introduced to check the financial strength of contractor grade licensees in Queensland and its a big deal.
Working Capital Management
Working capital is a daily necessity for businesses, as they require a regular amount of cash to make routine payments and purchase basic materials/services and pay wages used in the generation of its products/services.
Contact WCT Advisory.
With over 65 years combined specialist experience in financial advisory, restructuring and insolvency, WCT Advisory greatly value our clients and are dedicated to creating practical and specialised solutions to their problems.
Contact us today and let us show you how we can help.