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25.01.2022 Per www.primelegaltax.com.au Did you know that the government is making changes to our insolvency framework to better serve Australian small businesses, their creditors and their employees?Aimed to help small businesses recover from Covid 19, the changes will introduce new processes suitable for small businesses from 1 January 2021, reducing complexity, time and costs to small business. Essentially this is like a get out of jail free card for businesses facing financial st...rife in the form of unpaid bills or taxes. To be eligible for this, your business must have: 1) All super to be paid up to date for all employees 2) All ATO compliance up to date with the ATO 3) Combined total debt owed to creditors including the ATO less than $1million. In essence, the Government has updated old and antiquated insolvency laws that simply don’t help small businesses when they get into financial strife. Often a voluntary administration is too costly and then a liquidation is too scary with black marks being left against the director’s personal name. More often that not directors can end up personally bankrupt from liquidating their companies and all their years of hard work is just washed away, often along with their personal assets. This new reform has essentially stripped out all the ugly bits and left the bits in that apply to small business owners. They are allowed to keep trading and stay in control of their business whilst their debts are renegotiated to a much lower level. This not only gives the business owner breathing space, but it will keep people in jobs whilst the economy rebuilds after COVID. What the SME business owner also needs to know is that the ATO also has the power to transfer unpaid GST into the name of the Director, making them personally liable for not only staff PAYG, staff Super but now GST as well. This extension of the Directors Penalty Regime came into force earlier this year. So now any business owner with ATO debt and no plan in place to reduce it is basically a sitting duck. The ATO has announced that they are back to debt collection from Jan 2021. Book a Consultation www.prime legal tax.com.au T 0409813622 admin@legalexch
23.01.2022 Coogee beach must be pre 1959 ?
19.01.2022 Some possums paid us a daytime visit - look like young ones tbtg
18.01.2022 So why do numerous 7 Elevens & Vape shops actually sell E Cigarettes in Syd quite openly if they are in fact illegal in NSW ?NSW Health Advisory Under the NSW Public Health (Tobacco) Act 2008, it is illegal to sell e-cigarettes or e-cigarette accessories to a person under 18 years of age. It is illegal to display, advertise or promote e-cigarettes. E-cigarettes that do not contain nicotine are legal in NSW. Adults can buy and use e-cigarettes that do not contain nicotine.... The sale and use of e-liquid nicotine, including in e-cigarettes, is against the law. E-cigarettes are not harm-free and may expose users and bystanders to chemicals that are harmful to health. The Therapeutic Goods Administration has not approved e-cigarettes as an aid to help smokers to quit. NSW Health continues to carefully monitor the evidence to ensure the regulation of e-cigarettes is balanced and proportionate to the risks and benefits that they present. The Australian Chief Medical Officer and all state and territory Chief Health Officers have issued a statement outlining the emerging link between e-cigarette use and severe lung disease. See more
16.01.2022 Found by a good citizen on Coogee beach today STOP dumping these now
15.01.2022 A to be long since forgotten souvenir I bought in LA in 2019
15.01.2022 2016 Luck at Melb cup but can it be repeated
10.01.2022 1918 revisited should be mandatory on Public transport , buses etc
05.01.2022 USA Judge blocks Tik Tok ban - means OUR RIGHT TO CHOOSE upheld
03.01.2022 Pauline Hanson squashed in Qld election
