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24.01.2022 As Australias financial system adjusts to the coronavirus (COVID-19), the Reserve Bank of Australia (RBA) has kept the official cash rate at 0.25%. This is on the back end of two consecutive cuts to 0.50% and 0.25% in March. On 19 March 2020, Philip Lowe the RBA Governor stated At some point, the virus will be contained and the Australian economy will recover. In the interim, a priority for the Reserve Bank is to support jobs, incomes and businesses, so that when the health... crisis recedes, the country is well placed to recover strongly. Stay safe Check out our website for more information at https://www.liquidationhelp.com.au #liquidationhelp #liquidation #advisory #voluntaryadministration #insolvency #australiantaxationoffice #ato #rba #reservebank #interestrate #cashrate #australia #covid19 #covid19australia #mentalhealth #jobkeeper #stimuluspackages #monetary #fiscal

23.01.2022 Following on from our last blog on #GeorgeCalombaris, we now look at the recent increases that have taken effect from 1 July 2019 for minimum wage. Check out our most recent blog www.liquidationhelp.com.au//2019/8/1/minimum-wage-increases #liquidationhelp #liquidation #voluntaryadministration #advisory #finance #fwc #sme #hospitality #fastfood #award #insolvency #asic #fairworkcommission #employees #foodie #auspol #alp #lnp #minimumwage #ausbusiness #payroll #xero #myob #cloudaccounting #accounting

22.01.2022 Following on from our previous blogs around Single Touch Payroll (STP), it seems that Australian business are still not getting it right with STP or are not using STP at all. Check out todays blog for more information! http://www.liquidationhelp.com.au/blog/revisiting-stp #liquidationhelp #liquidation #voluntaryadministration #insolvency #asic #fairworkcommission #employees #ato #australiantaxationoffice #apra #advisory #afsa #ppsr #ppsa #construction #subbies #tradies #builders #accountants #bookkeepers #xero #myob #finance #australia #stp #singletouchpayroll #audit

22.01.2022 In the case of George #Calombaris #Made #Establishment empire, it looks like taxpayers have been left to foot the bill of $1million for #unpaidwages and leave entitlements owing under the #FEGscheme. For more information, check out our blogs on https://lnkd.in/gUeH_gP and https://lnkd.in/gpDqHYv #liquidationhelp #liquidation #voluntaryadministration #insolvency #asic #australiantaxationoffice #business #stp #xero #myob #cloudaccounting #accounting #gst #construction #labourhire #finance #hospitality #melbourne #covid19

21.01.2022 Did you know Directors have an obligation to prevent insolvent trading? What does that mean? It means incurring debt when you cannot pay them when theyre due. Check out our most recent blog for more information. www.liquidationhelp.com.au/blog/insolvent-trading #liquidationhelp #liquidation #advisory #liquidator #voluntaryadministration #insolvency #asic #fairworkcommission #employees #ato #fwc #law #directorsduties #debt #australiantaxationoffice #insolvent #insolventrading #twi #subbies #ausfinance #safeharbour #accounting #bookkeepers #cloudaccounting #xero #myob #stp #singletouchpayroll

19.01.2022 Corporate insolvency occurs when a company is no longer able to maintain its financial obligations as and when they fall due (i.e. your company cant pay the bills on time). Dont bury your head in the sandinsolvency for directors is something that should be taken seriously and actioned quickly. Find out today, our available solutions for you. For more information on Corporate Insolvency, check out www.liquidationhelp.com.au/corporate-insolvency

19.01.2022 Did you know that the ATO visited some Queensland sites linked to labour hire agencies as part of its efforts to deter and disrupt illegal phoenix activity? www.liquidationhelp.com.au//20/9/4/labour-hire-and-the-ato Check out our most recent blog for more information! #liquidationhelp #voluntaryadministration #liquidation #construction #advisory #labourhire #recruitment #ozbusiness #ausfinance #business #ato #asic #singletouchpayroll #stp #payroll #insolvency #tradies #tax #legal #blackeconomy #qld #Phoenix #cloudaccounting #xero #myob

17.01.2022 The impact of COVID19 has no doubt been immensely difficult for Australia as a nation. The team at Liquidationhelp has our thoughts with those who have felt the emotional and financial pain within the last few weeks. We are also thinking of our healthcare professionals who are on the front line taking care of our fellow neighbours and friends. This post is to serve as a reminder that it is okay to talk about what youre going through. Whether it be a phone call, talking to yo...ur neighbour or a coffee over a zoom call. We encourage those of you who do need help, that there are options available to you. Lifeline - 13 11 14 Beyond Blue - 1300 22 46 36 Mindspot - 1800 61 44 34 National Debt Helpline: 1800 007 007 LiquidationHelp: [email protected] #liquidationhelp #liquidation #voluntaryadministration #administration #insolvency #advisory #corporate #advice #debt #cashflow #cash #coronavirus #covid19 #socialdistancing #mentalhealth #ruok #ruokday #lifeline #beyondblue #mindspot #nationaldebt #helpline #ausfinance #accounting #bookkeeping #startaconversation

17.01.2022 Hi All, Hope youre all having a great weekend! Check out our most recent blog regarding insolvency statistics for May 2019. www.liquidationhelp.com.au//16/insolvency-statistics-may-2

17.01.2022 Did you know a DPN issued by the ATO means as a director you are personally liable for tax debts? Check out the blog for more information. www.liquidationhelp.com.au/blog/whats-a-dpn #liquidationhelp #liquidation #voluntaryadministration #insolvency #asic #fairworkcommission #employees #ato #australiantaxationoffice #apra #advisory #afsa #ppsr #ppsa #construction #subbies #tradies #builders #accountants #bookkeepers #xero #myob #finance #australia #stp #singletouchpayroll #audit #dpn #business #feg #superannuation

16.01.2022 Did you know 6 September 2019 was the deadline placed by the ATO for its consultation paper on the ATOs plan to disclose business tax debt information to credit reporting bureaus/agencies? Check out our blog for more information. http://www.liquidationhelp.com.au//tax-debt-disclosure-to- #liquidationhelp #liquidation #voluntaryadministration #insolvency #asic #ato #australiantaxationoffice #apra #advisory #credit #debt #debit #ausfinance #australia #payroll #payg #gst #accounting #bookkeepers #cloudaccounting #xero #myob #reckon #quickbooks #legal #singletouchpayroll #stp #bas #taxes #audit

14.01.2022 Did you know that when lenders are calling up on their loans which have been defaulted they might involve an Insolvency Practitioner involved either as a Receiver, Receiver and Manager or Mortgagee in Possession? Check out our most recent blog for more information. https://www.liquidationhelp.com.au/blog/borrowers-defaulting #liquidationhelp #liquidation #voluntaryadministration #insolvency #asic #ato #receivership #advisory#afsa #ppsr #construction #tradies #builders #accountants #bookkeepers#xero #myob #finance #australia #singletouchpayroll #audit #ppsa #brokers #nab #anz #westpac #cba #hsbc #subbiesunited #mortgagee

13.01.2022 The Government has passed new laws that targets illegal #phoenixactivity and gives the #ATO more powers to chase directors personally under its DPN provisions. Check out our most recent blog for more info. #liquidationhelp #liquidation #voluntaryadministration #insolvency #asic #australiantaxationoffice #business #stp #xero #myob #cloudaccounting #accounting #gst #moneysmart #finance #construction #liquor #luxurycar #tax https://www.liquidationhelp.com.au/blog/illegal-phoenix

12.01.2022 Did you know that the PPSR is an online registry that allows security interest in personal property to be registered and searched. Its a very quick and easy insurance policy to protect you. Check out our blog for more information! www.liquidationhelp.com.au/blog/quick-tip-ppsr #liquidationhelp #liquidation #voluntaryadministration #insolvency #asic #fairworkcommission #employees #ato #australiantaxationoffice #apra #advisory #afsa #ppsr #ppsa #construction #subbies #tradies #builders #accountants #bookkeepers #xero #myob #finance #australia

12.01.2022 Welcome to LiquidationHelp! Check out our first blog post as we delve deeper into the world of insolvency. https://www.liquidationhelp.com.au//welcome-to-liquidation

12.01.2022 Did you know that the Australian Taxation Office (ATO) has added more than $15billion in revenue gained through tax audits and other compliance activities it undertakes against businesses and individuals in 2018-19? Check out our blog for more information! #liquidationhelp #liquidation #voluntaryadministration #insolvency #asic #fairworkcommission #employees #ato #australiantaxationoffice #advisory #afsa #ppsr #construction #tradies #builders #accountants #bookkeepers #xero #myob #finance #australia #stp #singletouchpayroll #audit #ppsa #taxaudit #tax #blackeconomy #phoenix #afp

12.01.2022 #ClivePalmer has been charged under Australian law as part of an #ASIC investigation. Section 184(2)(a) of the Corporations Act refers to the dishonest use of position as a director and Section 408C(1)(d) of the Criminal Code Act 1899 (Qld) refers to fraud by dishonestly gaining a benefit or advantage (both criminal breaches). ASIC has alleged that Mr Palmer dishonestly obtained benefits or advantages for the #PalmerUnitedParty pup and other companies by authorising the trans...fer of $10mill not for their intended purpose. ASIC has alleged that he dishonestly used his position as a director of Mineralogy Pty Ltd in obtaining those advantages The prosecution of Mr Palmer has been adjourned until 28 August 2020. What does this mean? Mr Palmer is currently defending his position and it means he has not been convicted (yet) and will be before the court again. #liquidation #liquidationhelp #voluntaryadministration #australiantaxationoffice #ato #stp #litigation #fairentitlementsguarantee #feg #singletouchpayroll #jobkeeper #construction #queensland #yabulu #queenslandnickel #qni #covid19 #socialdistancing #finance #accounting #bookkeepers #australia #xero #myob #reckon #cashflow #makeaustraliagreatagain

11.01.2022 The master #franchisee for #Miniso in Australia has entered #voluntaryadministration during the #covid19 #pandemic. The lowcost #retailer and varietystore is known for its #consumergoods cosmetics stationery toys and kitchenware. The business operates under a brand license from #hongkong based #tabataholdings. Miniso has 31 trading stores across #queensland #newsouthwales #victoria and #westernaustralia. The Administrators are working with key stakeholders to restructure and ...save the company. Voluntary Administration is an #insolvency procedure whereby the #directors of a financially troubled company appoint a Voluntary Administrator to recommend whether the company enter into a #deedofcompanyarrangement #doca (a deal to restructure) or enter into #liquidation. #liquidationhelp #insolvencyaustralia #corporate #restructuring #asic #ato #employees #landlord #xero #myob #accounting

10.01.2022 The team at LiquidationHelp is devastated by the news of the continuing bush fires and the families that have been affected by this disaster. The team have donated to the RFS to support the guys on the ground. If you live in a bushfire affected area, you should be aware that you dont need to worry about your tax affairs right now. The ATO knows many Australian communities are doing it tough, and theyre here to help you sort out your tax when youre ready. The ATO is updating their website so you know how theyre supporting those who have been affected. Visit the ATO website for more information https://www.ato.gov.au/Individuals/Dealing-with-disasters/ #rfs #ruralfireservice #bushfires #donate #fires #firefighters #emergencyservices #liquidationhelp #nsw #vic #qld #redcross #australia #aus #accounting #ato #asic

09.01.2022 Underpaid employees. Do you believe it is wage theft or due to poor systems or mismanagement? In 2019 #Australian businesses were found to have underpaid #employees in the millions and millions of dollars. Check our most recent blog for more information www.liquidationhelp.com.au/blog/underpaid-employees Leave your comments and thoughts below. #liquidationhelp #liquidation #voluntaryadministration #insolvency #advisory #corporate #calombaris #wesfarmers #bunnings #rockpool #grilld #woolworths #apeagers #tipsycake #dinnerbyheston #heston #stp #singletouchpayroll #fairwork #fwo #sunglasshut #accounting #xero #myob #finance #hospitality #australiantaxationoffice #ato

07.01.2022 #Masterchef #Australia judge #georgecalombaris underpaid more than 500 staff by $7.8m over a 6yr period and only received a $200k fine. What are your thoughts? Check out our most recent blog for more information. www.liquidationhelp.com.au/bl/2019/7//calombaris-underpays #masterchefau #liquidationhelp #channel10 #network10 #voluntaryadministration #liquidation #fairworkaustralia #singletouchpayroll #stp #melbourne #foodies #foodie #hospitality #xero #reckon #myob #accounting #bookkeepers

07.01.2022 The joint efforts of the Serious Financial Crime Taskforce (which is made up of #ato #afp #asic) has resulted in charges against a syndicate of 12 people for serious financial fraud. The taskforce is focused on pursuing people who deliberately try to rip off the country with outstanding taxation obligations and #fraud incurred by this syndicate and #illegalphoenixactivity. It is alleged that the syndicate involved legitimate labour hire companies who shifted the processing of... their #payroll services to separate payroll companies (to process wages, super, insurance and taxes). Employee and contractor wages, superannuation and insurance were correctly paid, but money allocated to be paid to the ATO for tax obligations was diverted and allegedly laundered through a variety of other entities. If you do decide to place your Company into #liquidation, contact a #RegisteredLiquidator who is an #insolvency specialist to avoid any risk of being involved in illegal phoenix activity or fraud. For more information check out ASICs media release on http://ow.ly/rrct50AEDOD #liquidationhelp #voluntaryadministration #australiantaxationoffice #stp #singletouchpayroll #insolvencyaustralia #jobkeeper #construction #labourhire #bookkeepers #australia #xero #myob #reckon #cashflow #makeaustraliagreatagain #tax #gst #superannuation #payg #phoenixactivity

07.01.2022 With Single Touch Payroll in place, did you know the ATO will be looking to build its data sharing arrangements with other government agencies? Check out todays blog for more information. https://www.liquidationhelp.com.au/blog/2019/9/4/more-stp-1 #liquidationhelp #liquidation #voluntaryadministration #insolvency #asic #fairworkcommission #employees #ato #australiantaxationoffice #business #stp #xero #reckon #cloudaccounting #quickbooks #accounting #ozfin #finance #labourhire #construction #hospitality

05.01.2022 From 1 April 2020, the ATOs powers were extended to personally penalise directors for not paying GST, LCT and WET. Parliament in February 2020 passed the Treasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2019 to include GST, LCT and WET under the DPN regime. Check out our blog on https://lnkd.in/gT-qcHt #liquidationhelp #liquidation #voluntaryadministration #insolvency #asic #australiantaxationoffice #business #stp #xero #myob #cloudaccounting #accounting #gst #construction #labourhire #moneysmart #finance #construction #liquor #luxurycar #tax #financialservices #phoenixactivity #ato #taskforce

04.01.2022 ARITA (the body that represents those who specialise in the fields of restructuring, insolvency and turnaround) has recently shared some steps for businesses facing financial difficulties in light of COVID19 and the current economic climate. (1) Be honest with yourself -- Admit to yourself youre in a tight spot (2) Do your financial accounts (3) Are you already broke? -- The law says you are insolvent if you cant pay your debts as and when they fall due... (4) Talk to your bank & lenders (5) Talk to the Australian Tax Office / Office of State Revenue (6) Talk to your suppliers (7) Get qualified help from an ARITA member (8) Look after your mental health -- Chat to your doctor, check out Beyond Blue or call Lifeline if you are in urgent need of help. Contact the team at LiquidationHelp or check out ARITAs link here https://www.arita.com.au//8_essential_steps_if_your_busine. #covid19 #liquidationhelp #liquidation #insolvency #voluntaryadministration #debt #credit #australia #business #accounting #cloudaccounting #xero #myob #reckon #coronavirus #advisory #finance #australiantaxationoffice #payroll #construction #hospitality #socialdistancing

03.01.2022 The Australian Bureau of Statistics has released its Business Impacts of COVID-19 Survey, July 2020 (link is in profile) The key takeaways are: 42% of Australian businesses are currently accessing support measures such as wage subsidies, deferring loan repayments or renegotiating rental or lease arrangements.... One in ten businesses reported that if support measures were no longer available, they would expect to close the business. As the Government presently is intending to reduce assistance from September onwards, the likelihood is that there will be an increasing number of insolvency appointments from early next year. Given the current historically low interest rates, the inevitable pressure that the government will place upon the banks not to enforce and the high cost of receiverships, I consider that the great bulk of these appointments will come from the debtor side (meaning voluntary insolvency appointments started by directors). Rather than the banks calling on their loans, I suspect that the banks will try to pressure the borrower to enter a formal insolvency appointment. #liquidation #liquidationhelp #voluntaryadministration #insolvency #australiantaxationoffice #ato #AustralianBureauOfStatistics #stats #AustralianBusiness #smallbusiness #stp #singletouchpayroll #debt #payg #gst #audit #hospitality #covid19 #accounting #accountant #bookkeeper #bookkeeping #jobkeeper #australia #xero #myob #payroll #reckon #cashflow #insolvencyaustralia

01.01.2022 LiquidationHelp now has a dedicated information page on COVID19 and the #restructuring and #insolvency options available for businesses in financial distress. Contact our team on [email protected] or be on the look out for updates on www.liquidationhelp.com.au/covid19 #liquidationhelp #liquidation #voluntaryadministration #doca #financialdistress #ausbusiness #debt #cpaaustralia #caanz #mentalhealth #ruok #lifeline #beyondblue #covid19 #coronavirusaustralia #coronav...irus #covid19australia #coronavirus #stayhomesavelives #iso #accounting #bookkeeping #socialdistancing #australiantaxationoffice #myob #xero #hospitality See more