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If you’re unwell, you go to the doctor early—because the sooner a problem is diagnosed, the better the chances of recovery. Running a business is no different. Too often, business owners ignore early signs of distress, hoping things will turn […]

What is a personal guarantee? A personal guarantee is a legally enforceable promise to fulfill an entity’s obligations if it is unable to do so. Personal guarantees are a tool available to creditors to pierce the corporate veil and hold […]

In the current economic climate, a substantial number of Australian companies and individuals have accumulated significant debt with the Australian Taxation Office (ATO).   Often, the best way to address spiraling debt will involve placing the company into voluntary administration or […]

Insolvent trading refers to a company that is unable to meet debts when they fall due, that continues to incur debt. Determining the period of trading while insolvent is a complex question of law and accounting. Company directors have a […]

Economic uncertainty following the COVID-19 pandemic has placed significant financial strain on families, leading to an increase in bankruptcies. When bankruptcy intersects with family law, proceedings often become complex and contentious. If the matrimonial home has equity, a tug-of-war between […]

During the pandemic, an unprecedented level of fiscal support was provided to Australian companies. Many struggling firms were able to survive, sustained by a steady diet of taxpayer capital, existing in a commercial fantasyland. Additionally, record-low interest rates during the […]

The ATO’s approach With billions of dollars in outstanding company tax debt, the Australian Taxation Office (ATO) is under strict instruction to raise revenue and crack-down on poor compliance. What are Director Penalty Notices? A DPN (Director Penalty Notice) is […]

What is a personal guarantee? A personal guarantee is a legally enforceable promise (made by a natural person) to fulfil a third party’s obligations – such as those of a company – if it is unable to do so. Personal […]

Christmas is a joyous time, but for small business owners, it can also be a high-stakes, anxiety-inducing period. For many, financial viability depends on this seasonal influx in revenue. Unexpected challenges during this critical time can significantly increase the risk […]