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Hot Issues
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Global outlook summary: Down but not out
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Bookkeepers remind on incoming TPRS obligations
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Golden Rules for Deductions
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How's Australia going - vital statistics?
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Tax, SMEs set to be ‘political football’ in 2019 as election nears
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Cap lifted on popular financing option for clients
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Expiry of 900,000 interest-only loans set for January
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Australian Taxation Office (ATO) Scam Alert: Fake Demands for Tax Payments
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Tax Office sounds alarm on popular property strategy
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Our Advent calendar for 2018
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‘Please do not panic’: ATO boss addresses STP concerns
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Stop!! Don't do a paper Budget, use our online budgeting tools instead.
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Employee Christmas Parties and Gifts – Any FBT?
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Behavioural Coaching and your financial plans
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FBT – Christmas Parties and Taxi Fares
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Information needed to be the BBQ expert.
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Tax consequences of trust vesting
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Fringe Benefits Tax (FBT): employees’ private use of vehicles
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ATO to contact clients over bank details
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ATO claws back $850m in unpaid SG in FY 17-18
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Appetite for property in SMSFs shows signs of life despite tough market
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Superannuation gender gap narrowing, research shows
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Identification numbers for directors
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How financial advice helps create wealth.
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Australia's vital statistics
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Unlocking equity crowdfunding in Australia
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$20m boost for SME clients looking to exporting
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Work-Related Expenses
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ATO updates crypto guidance
Article archive
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Quarter 4 October - December 2018
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Quarter 4 October - December 2014
Quarter 4 of, 2016 archive
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Big-ticket tax set for government review
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FBT – Christmas Parties and Taxi Fares
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Unclaimed Monies - Christmas Project?
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Employee Christmas Parties and Gifts – Any FBT?
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‘Beware the tax man’ eyeing holiday period activity
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Merry Christmas for 2016, a Happy New Year and a prosperous 2017.
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Research reveals key to ‘high-performing’ firms
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Late payments hitting SMEs hard
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Estate planning issues flagged with $1.6m pension transfer cap
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Travel to a workplace: What’s in, what’s out
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New fleet “safe harbour” approach for car fringe benefits
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Struggling Business Turnarounds
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SMSF practitioners told to urgently address TRIS issues
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$20,000 write off is only available for small business, right? Well…
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Do you need an Employment Agreement?
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What does the new withholding tax mean for your clients?
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Is there a problem with using your company’s assets for yourself?
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Domestic (non-marital) Relationships
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SMEs at risk of ‘falling foul’ of ATO
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Scams, fraudsters and viruses
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Got your car log book ready?
Struggling Business Turnarounds

 

Many small business owners rush to apply short-term fixes rather than diagnosing the real problem.

       

 

SME companies can find themselves in financial distress even under the most buoyant economic conditions.  Underlying problems in core business models are intensified during difficult economic times.

A common solution is to borrow or refinance their way out of trouble.  Whilst a refinance is helpful for placating hungry creditors now, it does little to guarantee long-term cash flows and operational stability.

Specialist insolvency practitioners say it is the identification of this flaw and development of a turnaround plan to address this that is critical to long-term prosperity.

An effective turnaround involves a combination of short-term and long-term decision making, which must be executed quickly and communicated clearly.

Any turnaround requires time.  For SME’s who are in need of restructure, early consultation with an expert is vital.  That first consultation will often be free.

The solution may be an informal workout or through a formal insolvency process, such as Voluntary Administration with a Deed of Company Arrangement proposal (potentially funded by the owners).

 

 

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