Payday Super and Director Penalty Notices: The Risk Nobody Is Talking About
Most commentary on Payday Super has focused on the cash flow impact — the end of the quarterly super buffer, the requirement to fund super on every payday, the sectors most exposed to the timing change. There is a second consequence that has received far less attention, and for directors it is potentially more serious […]
Practical Indicators Accountants Shouldn’t Ignore
Most businesses don’t wake up one morning and discover they’re insolvent. The warning signs are usually there long before things reach that point. The problem is that they’re often dismissed as temporary setbacks. A slow-paying customer. A tax debt that will be cleared next quarter. Suppliers are becoming a little more impatient than usual. On […]
Signs Your Business May Be in Financial Distress and What Directors Should Do
Financial pressure can build quietly within a business. Missed payments, growing liabilities, and ongoing cash flow strain are often treated as temporary challenges. When these issues persist, they may indicate growing financial distress and increasing insolvency risk. For directors, these issues can quickly escalate if left unchecked. Recognising the early signs of financial distress allows […]
Liquidation: A Guide for Australian Businesses
Liquidation in Australia A Practical Guide for Directors and Creditors If you are reading this, chances are things feel pretty serious right now. Maybe the ATO is chasing you, creditors are calling, or you have received a legal notice you are not quite sure how to handle. Whatever brought you here, you are not alone, […]
Downloads – Whitepapers, guides, and brochures
Insolvency information for directors, employees, creditors and shareholders | ASIC Home – Fair Entitlements Guarantee (dewr.gov.au) Winding up a company | Australian Taxation Office (ato.gov.au) Director penalties | Australian Taxation Office (ato.gov.au)
FAQs – Common questions and detailed answers about insolvency processes
How Do I Know if It’s Time to Speak to a Professional? If you are experiencing any of the following insolvency indicators, it’s time to contact our team today. Received a Director Penalty Notice (DPN) The ATO issues a DPN to directors, potentially making them personally liable for the company’s debt. Accruing and Overdue Tax […]
ATO’s Tougher Stance: What Small Business Directors Need to Know About Director Penalty Notices (DPNs)
As the Australian Taxation Office (ATO) continues to ramp up its recovery actions throughout 2024 and into 2025, we can expect a significant increase in Director Penalty Notices (DPNs). The ATO is aiming to recover around $30 billion in overdue debt, much of which comes from small businesses. For Directors, it’s crucial to understand that […]