Duty to Prevent Insolvent Trading
An updated guide for directors Section 588G of the Corporations Act 2001 is crucial for directors to understand, as it imposes strict obligations to prevent insolvent trading. Accountants play a vital role in educating clients on these responsibilities, particularly when businesses face financial distress. What is section 588G? This section places a duty on company […]
Hot off the press! – Director Penalty Notice reforms and Superannuation Guarantee amnesty
Royal Assent was given to the Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 on 18 February 2020,which, amongst other things, will bring a major shake up to the Director Penalty Notice (DPN) regime enforced by the Australia Taxation Office (ATO). This is a major update that accountants and advisors should be aware of moving […]