Latest Developments in Insolvency

Director Penalty Notices – its personal

You may have heard of the expression, director penalty notice (“DPN”), if not,  it is import that you seek professional advice concerning such notices. A DPN is a method by which the Australian Taxation Office (“ATO”) can make directors personally liable for unremitted group tax, PAYG and superannuation. If you fail to lodge and pay for three months the DPN is deemed,...

Read More

Is the ATO winding up your company?

In order for the Australian Taxation Office (“ATO”) to wind up a company it must first deliver a creditors statutory demand which will provide details of the amount that is due, what your options are and when the amount must be paid by. Do not ignore this document. Instead, contact your accountant, legal or professional advisor who are aware of...

Read More

Members’ voluntary liquidation – free fact sheet

BARRY HAMILTON & ASSOCIATES MEMBERS VOLUNTARY WINDING UP FACT SHEET Keeping a private company registered with the Australian Securities & Investments Commission (“ASIC”) is often not cost effective, especially where the company has ceased trading and has no further business activities. The company may also have assets that can be more effectively distributed through a voluntary winding up. The starting...

Read More