News & Updates

  • Small Business Restructuring - The best option for your client, and you. Todd Barbour 13-02-2024

    As an accountant, identifying when SBR might be appropriate and guiding a client through the process could provide an opportunity for you to keep your client in business. Read More

  • Director Penalty Notices (DPNs) and the Australian Tax Office (ATO) Rommel Alfonso 01-02-2024

    As a company director, you are responsible for ensuring that your company’s tax and superannuation obligations are reported AND paid on time. If your returns are not lodged or paid in time, the ATO may attempt to recover the money owing from you personally. If you don’t want to risk being held personally liable it is critical that you understand what options are available to you BEFORE the ATO comes knocking at your door. Smith Hancock Partner Rommel Alfonso explains.............. Watch Video

  • Struggling With Creditors? How a Small Business Restructure Can Help Rommel Alfonso 14-04-2023

    A Small Business Restructure is an alternative to more traditional insolvency practices, and allows directors to retain control of the business, property and affairs of their company while a restructuring plan is formulated, Watch Video

  • Small Business Restructuring Rommel Alfonso 14-04-2023

    Small Business Restructuring (SBR) offer several major advantages for small businesses over traditional forms of insolvency by allowing directors to retain control of their business whilst a restructuring plan is formulated and removing the need for creditors meetings and lengthy reports to creditors. Find out more. Read More

  • Illegal Phoenixing and Creditor-Defeating Disposition: The First Court Ruling Rommel Alfonso 01-09-2022

    In May 2022, the first Court ruling was made on the new anti-phoenixing provisions included in the Corporations Act 2001 and it has provided interesting reading for those advising clients that are in financial difficulty, or whose clients may have customers experiencing financial difficulty! Read More

  • ATO and DPNs – Beware! Peter Hillig 27-05-2022

    The Australian Tax Office is flagging an important change in its approach to debt collection and insolvency, with a return to full-time status for its collections department and a renewed focus on the recovery of debts owing. Read More

  • Director Identification Number Regime Now in Place Rommel Alfonso 02-12-2021

    The Director Identification regime is now in place and all Directors, both existing and new appointments, will need to apply for a unique identification number. Read More

  • Severe Consequences for 'Shady' Pre-Insolvency Advice Peter Hillig 02-12-2021

    Pre-insolvency advice is firmly in the spotlight following a recent Court case involving fraudulent asset stripping before a liquidation... Read More

  • Director Resignation Changes Peter Hillig 26-10-2021

    Effective 18 February 2021, if a person stops being a director of a company, they or the company, must notify ASIC within 28 days. Read More

  • ATO - Change in Debt Collection Approach - Directors Beware! Peter Hillig 26-10-2021

    As the Government shifts its COVID 19 response from cash injection to cash recovery, we were interested to listen to a presentation from the Australian Taxation Office (“ATO”) on their debt collection strategy as we navigate our way through the pandemic. Read More

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